Fri, 12 Apr 2019 | MERGER
A well-known accountancy firm has merged with a Cogital Group company which operates 88 offices across the country.
Broomfield Alexander, founded in 1912 and now with 110 staff members in Wales, has agreed to join forces with Baldwins to expand its portfolio to include offices in Aberdare, Cardiff, Monmouth, Newport and Swansea.
Broomfield Alexander has a recorded annual turnover of £7.5 million, and is known to have grown organically over the years through acquisitions of counterparts in South Wales. In the previous year, 18 accredited deals were completed in manufacturing, professional services and healthcare by its corporate finance team.
Baldwins, on the other hand, reports an annual turnover of roughly £200 million with 2,500 members of staff throughout the UK.
On 15 April 2019, Broomfield Alexander will rebrand immediately to trade as Baldwins so as to grant its clients access to a range of services, from banking and finance, to forensic accounting.
Managing partner at Broomfield Alexander, Ian Thomas, said: “This is an exciting development for us in joining a firm of this calibre.
“We will be strengthening our position in the market and increasing our investment in technology to further improve our client service in a rapidly changing and challenging environment.
“It will also enable us to provide a wider range of specialist services for the benefit of our clients both nationally and internationally and to continue with our growth plan.”
Thomas believes that the merger will allow Baldwins to widen its profile as a business advisory firm in Wales.
Regional managing partner at Baldwins, David Owens, commented: “Baldwins now has £12 million annual turnover in South Wales, and Broomfield Alexander joining us underlines our commitment to growing Baldwins in Wales.
“The two businesses also share a similar ethos when it comes to developing additional services for our clients whilst creating career opportunities for our staff.”
For more news stories about mergers, click here. For all our business for sale listings, click here.
This practice, which was established in the 1970's, is available for part sale/part merger. 1 partner wants to sell and work his way into retirement, the other partner wants to merge. Two partner practice. Offers invited.
This practice, which was established in the 1990's, is available for sale due to the impending retirement of the partners. Staff: 5 full-time, 4 part-time. Premises: Leased. Offers invited.
This practice, which was established over 50 years, is available for sale due to the impending retirement of the partners. Staff: 6 full-time, 4 part-time, 1 subcontractor. Software: Sage, PTP, Moneysoft Payroll Manager. Offers invited.
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources