Fri, 11 Oct 2024 | BUSINESS SALE
Walsall-based accountancy firm BK Plus has made its first acquisition in Buckinghamshire with the addition of High Wycombe based Haines Watts.
BK Plus offers a range of services such as accountancy, auditing and buying and selling a business for mainly SMEs, owner managed businesses and entrepreneurs. The firm said that the Haines Watts deal marked the ‘next phase of our journey toward becoming one of the leading national players while retaining a strong commitment to local service delivery’.
BK Plus, which has a strategy of buying professional services firms with a focus on local SMEs, describes itself as ‘one of the fastest growing accountancy firms in the UK’. Since being founded in 2021 it has expanded to 23 offices and established regional hubs across the country such as the South West.
According to its most recent filing to Companies House for the year to March 31st, 2023, its turnover had jumped to £8.5 million in 2023 compared with £5 million in 2022. Pre-tax profit, meanwhile, more than doubled to £931,475.
Haines Watts is just the latest in a series of acquisitions it has made this year, since securing backing from private equity firm Palatine in 2023. This includes the acquisitions of Walker Moyle Chartered Accountants, Atkins Ferrie and Pooleys Chartered Accountants in Cornwall, Casson Beckman Chartered Accountants in Fareham, Andorran in Gloucestershire and KJ Watkin & Co in the Midlands.
BK Plus said the Haines Watts office will be led by Gary Heywood as the Office Managing Partner, joined by his three partners and a team of over 30 staff. It said they bring extensive experience advising corporates and owner-managed businesses, ‘along with deep expertise and a reputation for excellence in the town and surrounding area’.
Ed Hill, Group Managing Partner at BK Plus said: “The acquisition of a firm of this size and reputation is a fantastic result. The whole team has a proven reputation for offering technically complex advice to a broad range of clients and the expertise to service clients of all sizes.”
He added that BK Plus was keen on continuing to expand its office numbers and would “welcome conversations with like-minded practices'.
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