Thu, 01 Feb 2024 | BUSINESS SALE
Accountancy firm BK Plus has completed its first acquisition since securing backing from private equity firm Palatine. The West Midlands-based company has acquired Abrams Ashton, a firm that provides tax expertise to small and medium-sized businesses.
Abrams Ashton is based in St Helens and serves SMEs in the surrounding area. Following the acquisition by BK Plus, the company will continue to operate from its current offices at the St Helens Waterside Court Business Park, with partners David Cowen, Sally Fuller and Darren Leigh remaining in their roles.
BK Plus Chief Executive Shaun Knight said that the acquisition “will be a great addition to our local offering in the North West” and that Sally Fuller and David Cowen would boost the company’s existing “impressive tax offering across the region.”
He continued: "As a firm, our stated policy is to offer first-class service to the SME sector in their local area using local partners and staff. It was clear from the beginning of our discussions that all three partners share this philosophy."
David Cowen stated that BK Plus was “the obvious choice” for Abrams Ashton, due to the company’s similar philosophy in dealing with clients. He added that joining with a larger firm would provide the company with new opportunities “as well as significant investment in staff and technology to improve our client service offering still further."
The deal comes after Palatine acquires a significant minority shareholding in BK Plus in 2023. Palatine partner Richard Thomas said: "The strategic acquisition of Abrams Ashton further enhances BK Plus' footprint in the North West and continues its ambitious growth strategy."
After securing backing from Palatine in September last year, Shaun Knight commented:"There is an unprecedented opportunity within the accounting sector to acquire with like-minded firms across the country. Our growth to date demonstrates this, along with a significant pipeline of opportunity. Localness is the key to our core principles; this mirrors Palatine's structure and is key to our decision in choosing them.”
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This IFA firm in South Wales boasts a robust client base with 540 active households and an impressive £140m in funds under management.
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