Wed, 19 Feb 2025 | BUSINESS SALE
Duncan & Toplis, one of the largest accountants and business advisers in the UK, has acquired Derby-based accountants, Underwood Green.
With locations across Lincolnshire, Leicestershire, Nottinghamshire, North London and now Derbyshire, the acquisition is part of Duncan & Toplis’ largest-ever period of growth, coinciding with the group’s 100 year anniversary.
Underwood Green, with over 20 years experience in the industry, will now rebrand, with all around 13 team members including directors Gary Underwood and Richard Green remaining in their roles and in their existing premises at Pride Park in Derby. The deal sees Duncan & Toplis expand into another new location, broadening the group’s service offering to clients across the Midlands, and follows hot on the heels of the acquisition of North London-based ALG.
Damon Brain, CEO of Duncan & Toplis, said: “This is a very exciting time for Duncan & Toplis, as it is the first time our group will have an office in Derbyshire. We’ve supported clients in Derby and Derbyshire for many years but, with the acquisition of Underwood Green, we’ll be welcoming a fantastic new team who are based in the city."
Brain said the Underwood Green team have a "terrific reputation" in the area and that they are two very like-minded businesses.
"I’m looking forward to welcoming all team members to Duncan & Toplis and providing them with great career opportunities, at the same time as taking great care of clients they love working with," Brain said. “We want to continue to grow and expand the team at our new location in Derby, particularly our tax advisory team, and are looking for talented individuals to join us.”
Gary Underwood, director and co-founder of Underwood Green, said: “Joining forces with Duncan & Toplis is a great opportunity for us and our clients. Being a part of Duncan & Toplis, we’ll be able to offer a wider range of services and even greater support.”
Richard Green, director and co-founder of Underwood Green, added: “Becoming a part of Duncan & Toplis is a thrilling step for us - their values and ambition align closely with our own. We're excited about the incredible benefits this will bring, for our clients and for our team, who will gain fresh opportunities to grow within an ambitious and fast-growing group."
The acquisition of Underwood Green has received full regulatory approval and Duncan & Toplis is continuing active acquisition discussions with other like-minded businesses.
Find out more about M&A trends in the financial services sector
This general practice firm presents a significant opportunity for growth, especially by expanding services in inheritance tax planning.
This client is entering the market for the first time, seeking a friendly and approachable firm to manage both staff and client relationships going forward.
Client comes to the market for the first time with a view to finding a friendly and professional firm that understands the value in retaining quality team members and will put them at the forefront of the deal.
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