Mon, 01 Jul 2024 | BUSINESS SALE
Professional services firm Xeinadin has announced the acquisition of three accountancy firms based in the South of England. Marden & Co, MacKenzies Accountants Limited and Tax Agility have joined the firm.
The deals take Xeinadin’s total number of acquisitions to 23 within the last two years, as M&A continues to drive the firm’s efforts to establishing itself as the UK’s most trusted advisor for business owners.
The multidisciplinary business advisory and accountancy firm now comprises more than 135 offices and over 2,000 employees across the UK. The company operates from nine regional hubs, serving a wide range of sectors and, in November 2023, was named the UK’s 18th-largest accountancy firm by Accountancy Age.
Following the acquisition, Surrey-based Marden & Co, Isle of Wight-based MacKenzies Accountants and London-based Tax Agility will rebrand as Xeinadin, while continuing to operate under their managing directors.
Xeinadin said that the three firms would benefit from “significant additional resources, including centralised back-office support and the power of a collaborative international group”, adding that integration into the wider company would provide them with access to ”market-changing insights” that would enable them to better serve their clients.
Announcing the acquisition, Xeinadin said that it was “tapping into the South as a thriving hub for SME growth, ensuring small businesses continue to grow and navigate their business and financial journeys through both successes and challenges.”
According to a recent Xeinadin survey of 1,000 UK SMEs, the South of England is a hotspot for small business growth, with more than half (52 per cent) of SMEs in London and the South seeing revenue growth over the past year.
Xeinadin CEO Derry Crowley commented: “Welcoming Marden & Co, MacKenzies, and Tax Agility into the Xeinadin family marks another key milestone in our growth strategy. These firms, trusted partners to local businesses, align perfectly with our mission to deliver personalised, future-focused tax and business advice to SMEs."
Tax Agility Managing Director Donovan Crutchfield said that the deal would strengthen his firm’s service portfolio, while improving its processes and infrastructure. MacKenzies Managing Director Venetia Smith added that the deal would benefit both clients and staff “while allowing us to remain central to our local business community.”
Read more about the factors driving M&A in the accountancy sector
Also read: Private equity group’s £1bn sale of Xeinadin accounting group collapses
Working with a prominent client in the investment banking industry, the company delivers turnkey project management services to support its client’s real-estate programme.
A renowned East London practice, established for over 35 years, boasts a high-quality, relationship-led service with a strong portfolio of limited company clients, each generating average fees over £4,000.
This North London practice presents an exceptional opportunity with a loyal client base primarily comprising limited companies and a profit margin of approximately 40%, promising a swift return on investment.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.