Wed, 05 Apr 2023 | BUSINESS SALE
Accountancy disruptor Cooper Parry has announced its latest acquisition with a deal for London-based financial planner Future Perfect. The acquisition is the private equity-backed company’s third in the space of two months and it has plans for further M&A as it seeks to achieve its growth ambitions.
The acquisition follows soon after Cooper Parry’s takeovers of two other London-based firms: tech-based accountancy ihorizon and Acclivity, a boutique advisory firm specialising in providing accountancy, tax and consultancy services for high-growth early-stage businesses and entrepreneurs.
Cooper Parry is headquartered in Derbyshire, with bases at East Midlands Airport and Birmingham. Following its acquisitions so far this year, the company’s headcount has expanded to more than 540 staff and it is seeking to achieve five-fold growth by 2025.
In its most recent accounts at Companies House, for the year to April 30 2022, the company reported turnover of £44 million, up from £34 million a year earlier, while operating profit stood at £16 million, compared to £13.1 million in 2021. At the time, the company’s net assets amounted to £8.3 million.
Commenting on company’s acquisitive activity, Cooper Parry CEO Ade Cheatham (pictured above) said: “It’s been an incredibly fast start to the year and we’re on a roll. This Future Perfect deal is another sign of Cooper Parry’s 100 per cent commitment to size and scale through the PE-backed acquisition of high calibre firms – who are the right fit – to help drive our ambitious client-first growth.”
Cooper Parry Wealth CEO Stephen Jones added that the company and Future Perfect shared “a very similar philosophy” and “a genuinely likeminded approach”, meaning that “the client experience should be very smooth from the word go.”
Future Perfect founder Sue Royle commented: “We were really impressed by the dynamic culture and ambition to be a leading financial planning force in the UK. It’s clear that everything’s in place to deliver an enhanced experience for our clients.”
Co-founder Nick Crowe said: “In recent years, we’ve had a good deal of interest from other businesses. We have always had some key non-negotiables. Cooper Parry Wealth ticked every box – and plenty more. They are well-established, credible and will provide our client base with a perfect new home.”
Find out how accounting firms are using acquisitions to broaden their focus and provide more services to clients.
Read about growing M&A activity across the professional services industry.
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