Thu, 11 Sep 2025 | DIVISION SALE
Scholes Chartered Accountants (Scholes CA) has expanded its operations into Scotland with a deal for RSM UK’s team in Lerwick. Scholes CA says that the deal, which was completed for an undisclosed sum, will make it Scotland’s largest accounting practice in Shetland.
Scholes CA, which is headquartered in Kirkwall, provides accountancy and business advisory services. The company’s client base covers a range of sectors, including engineering, hospitality, renewables, agriculture and fisheries.
The acquisition expands Scholes CA’s team size by a third, adding to its network of offices, which spans Edinburgh, Laurencekirk, Aberdeen, Kirkwall and now Shetland. The deal is part of Scholes CA’s strategy of enhancing its offering to its core client base of owner-managed and entrepreneurial businesses.
Scholes Ltd director Karen Scholes commented: “We are thrilled to welcome the Lerwick team to our growing business and can’t wait to see the opportunities this investment will create for our people, our clients and the firm as a whole.”
“The expertise we have acquired in Shetland forms a vital part of our long-term thinking. We are now going to have a team with specialist on-the-ground knowledge that will have a major impact on our clients and our way of working. With this acquisition we are all excited to see how Scholes CA can benefit the wider economy of Shetland, Orkney and, more broadly, Scotland as a whole.”
As part of the deal, Irene Hambleton, who was previously a partner at RSM UK, has assumed the role of director at Scholes CA’s 20-strong Lerwick office. Hambleton said that the ownership transition provided the team with “the opportunity to grow as part of an organisation that offers diverse services to a complementary client base as a significant part of Scholes CA.”
She added: “We believe this will give the team more flexibility in the projects we pursue and will provide continued growth opportunities for both the Lerwick team and Scholes CA and, importantly, more career opportunities for the team.”
UK accounting firms are using M&A to broaden their service offering and meet evolving client needs
The company is a highly regarded, independent provider of accounts payable (AP) and VAT recovery audit services for public- and private-sector clients based across the UK.
This well-established East Anglia-based practice offers a solid foundation with a high proportion of limited company clients and significant potential for growth through the introduction of additional services.
Well established for over 35 years, this Scottish-based practice offers a solid client base with a high proportion of limited company clients, providing a strong foundation for future growth.
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