Johnston Carmichael expands with Dundee opening

Johnston Carmichael, Scotland’s largest independent accountancy firm, has opened a Dundee office as part of a strategic expansion of its operations

The firm has established a new hub in the city to provide services to Dundee’s growing sectors including technology and life sciences based in a landmark building in Dundee One on the Dundee Central Waterfront near the V&A. According to the Tech Nation 2018 report, Dundee’s digital technology sector was worth over £200m to the economy in 2017 and supported over 2,500 jobs.

Johnston Carmichael reported £45.4m in revenues for the financial year ended 31 May 2018 up from £43.7m, although net profit before members’ remuneration declined from £12.2m to £11.8m. The firm, which was founded over 80 years ago, has 750 staff and partners across 12 locations, and is the PKF member firm in Scotland.

Sir Pete Downes, former principal and vice-chancellor of the University of Dundee and a leading figure in the pharmaceutical industry, has been appointed as a senior adviser to the firm to support the expansion.

The Dundee office will have a team of four and will be headed up by newly appointed restructuring director Jenn Stewart, who is a licensed insolvency practitioner. Innovations taxes senior manager Andrew McMillan and business advisory manager Ryan Milne will also be based out of Dundee and the firm plans to hire a further tax specialist in July. They will be supported by an experienced mobile specialist team of 12 staff, including head of entrepreneurial taxes, Andrew Holloway and head of technology and life sciences for the firm, Shaun Millican. This team operate across Scotland in a supporting capacity, covering clients based all over Scotland. 

Sir Pete Downes said: ‘Johnston Carmichael is a highly ambitious firm with the experience and knowledge to help Dundee’s businesses to achieve their growth plans. I am pleased to be working in partnership with Johnston Carmichael as it seeks to harness the collective strength of the city and create a community that will generate economic opportunities for all.’

Andrew Walker, board member and partner at Johnston Carmichael, who has led the establishment of the office, said: ‘Dundee has an extraordinary technology community spanning gaming, life sciences and manufacturing with an exciting academia producing dynamic spin outs.

‘Opening in Dundee is a very important and symbolic milestone in our firm’s growth and development. We have long harboured ambitions to build a strong presence in one of Scotland’s largest and most ambitious cities.  

“We will be using our expertise and deep knowledge of the technology sector to support the city’s businesses at all stages of their growth journey from start-ups to scale-ups, helping them to prosper and progress.’

Johnston Carmichael has a strong track record in advising technology businesses at all stages of their journey from start up to scale up, with clients including the highly successful healthcare tech firm, Current Health, and Intelligent Growth Solutions, responsible for the innovative design behind Scotland’s first vertical farm.

The Dundee office brings to 12 the number of offices operated by Johnston Carmichael across Scotland. Other local branches include its Forfar and Perth practices.

Sara White

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