Mon, 21 Jul 2025 | BUSINESS SALE
An accountancy firm based in Swansea has completed its first acquisition, in a deal supported by a six-figure loan from the Development Bank of Wales. Unity Accountancy has acquired Llanelli-based counterpart Quotanet.
The deal will bring seven members of the target company’s staff, along with its local client base of more than 700 businesses, under the management of Unity Accountancy, while enabling former Quotanet owner Roger Bowen to explore other business opportunities.
Unity Accountancy was launched in January 2023 by digital accounting expert Cerith Williams and co-director Ben Ruddle. The acquisition of Quotanet is hoped to be the first of many acquisitions for the company, with plans for the next acquisition to be completed before the end of the calendar year.
Cerith Williams said that the acquisition of Quotanet "was an obvious growth step for us", continuing: "We’ve always planned on growing through acquisition, but their strong local networks and experienced team made them the ideal choice.”
The acquisition was supported by a £280,000 loan delivered through the Development Bank of Wales’ Wales Flexible Investment Fund.
Sally Phillips, Investment Executive at the Development Bank of Wales, said that the combination of the two firms "will mean SME customers in this part of south-west Wales will have access to high-end, data-driven intelligence, which will support business growth in the area in turn.”
"We’re glad to have brought these two leading financial services together, and look forward to Unity’s further growth as they take on future acquisitions."
Post-acquisition, Quotanet’s longstanding customer base will be advised using Unity Accountancy’s data-driven approach.
Unity Accountancy utilises AI technology and cloud-based accounting software to provide long-term financial and tax advice for business customers using real-time data. According to the company, automating the traditional accounting processes enables them to focus on providing value-added service for customers, while using live intelligence to identify trends and guide financial planning.
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