Wed, 10 Jul 2024 | BUSINESS SALE
The AMS Group, a national full-service professional services provider, has acquired an audit firm based in Manchester. The acquisition of Chadwicks is expected to strengthen AMS Group’s presence in the North West mid-market.
Chadwicks was established more than 40 years ago and has a 60-strong workforce operating across three offices serving more than 2,500 clients. Founder and Managing Director Michael Chadwick said the company had been “approached by a number of organisations but the outlook taken by the AMS Group team stood out.”
He continued: “As the founder of a family-run business, I recognised the strong alignment in our cultures and values.”
"Given the current trajectory of the accounting industry, partnering with an advisory-led platform like the AMS Group, rather than a mainstream consolidator, was essential. This decision assures that my clients and staff will have a bright future, which has always been my top priority."
AMS Group was founded in 1982 and specialises in generating value for mid-market clients. The company has more than 200 employees working across ten-plus offices nationwide and is on track to surpass its target of £20 million revenue in 2024.
AMS Group Chief Executive Ebrahim Sidat said that the acquisition of Chadwicks was “a key milestone in achieving our vision to serve the mid-market", adding that the addition of around 55 new staff members would give the group “the capacity to take on additional accounting and audit clients”.
Sidat continued: "Chadwicks brings a very experienced client management team, which will continue post-acquisition, and would create a more robust platform for future growth. Chadwicks also has a healthcare team and sector specialism to support the market-leading healthcare team within the group.”
"In line with the AMS Group's client relationship-led approach, and the addition of five strategic acquisitions in the past three years, we can now add more value to the Chadwicks' client-base by providing them with more of the services they require."
AMS Group senior partner and Head of Business Development David Clegg said that the acquisition would “substantially increase” the group’s capacity “to capture more of the 'lost opportunities' that we were unable to onboard from our client origination team.”
He added that he was confident the acquisition would enable the group to “achieve greater organic growth due to our enhanced market position, whilst also maintaining high client satisfaction rates for future years."
Read about the growth of dealmaking in the UK professional services industry
This established firm in West Yorkshire offers a significant opportunity with £160 million funds under management and a stable office and staff base, providing continuity post-acquisition.
This is a rare opportunity to acquire a highly profitable client bank with an average portfolio size above £800,000.
This unique opportunity offers you the chance to acquire a well-established accountancy practice with a loyal client base and strong recurring revenue, located in Bristol.
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