Mon, 01 Jul 2024 | BUSINESS SALE
Professional services firm Xeinadin has announced the acquisition of three accountancy firms based in the South of England. Marden & Co, MacKenzies Accountants Limited and Tax Agility have joined the firm.
The deals take Xeinadin’s total number of acquisitions to 23 within the last two years, as M&A continues to drive the firm’s efforts to establishing itself as the UK’s most trusted advisor for business owners.
The multidisciplinary business advisory and accountancy firm now comprises more than 135 offices and over 2,000 employees across the UK. The company operates from nine regional hubs, serving a wide range of sectors and, in November 2023, was named the UK’s 18th-largest accountancy firm by Accountancy Age.
Following the acquisition, Surrey-based Marden & Co, Isle of Wight-based MacKenzies Accountants and London-based Tax Agility will rebrand as Xeinadin, while continuing to operate under their managing directors.
Xeinadin said that the three firms would benefit from “significant additional resources, including centralised back-office support and the power of a collaborative international group”, adding that integration into the wider company would provide them with access to ”market-changing insights” that would enable them to better serve their clients.
Announcing the acquisition, Xeinadin said that it was “tapping into the South as a thriving hub for SME growth, ensuring small businesses continue to grow and navigate their business and financial journeys through both successes and challenges.”
According to a recent Xeinadin survey of 1,000 UK SMEs, the South of England is a hotspot for small business growth, with more than half (52 per cent) of SMEs in London and the South seeing revenue growth over the past year.
Xeinadin CEO Derry Crowley commented: “Welcoming Marden & Co, MacKenzies, and Tax Agility into the Xeinadin family marks another key milestone in our growth strategy. These firms, trusted partners to local businesses, align perfectly with our mission to deliver personalised, future-focused tax and business advice to SMEs."
Tax Agility Managing Director Donovan Crutchfield said that the deal would strengthen his firm’s service portfolio, while improving its processes and infrastructure. MacKenzies Managing Director Venetia Smith added that the deal would benefit both clients and staff “while allowing us to remain central to our local business community.”
Read more about the factors driving M&A in the accountancy sector
An exciting opportunity to acquire a well-established independent financial advisor firm with £125m in funds under management in Wiltshire.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
This firm represents a superb opportunity to establish a hub, with staff and offices already in place.
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