Business advisory and accountancy firm Menzies LLP has acquired Cardiff-based rival Haines Watts Wales.
The deal, the value of which has not been disclosed, sees the merger of Menzies’ Cardiff office with the Haines Watts Wales (HWW) team of 20 and its two partners. It creates an enlarged Menzies team of 40 with a bolstered fee income of £4m.
Menzies said its latest acquisition forms part of a targeted growth trajectory to reach £85m in revenues in its current financial year – a figure double that achieved just five years ago.
London headquartered Menzies has a presence in both the 海角视频 and internationally. It is also a member of the global advisory and accounting network HLB.
John Cullen, Cardiff-based partner with Menzies, said: “The merger with HWW represents a strategic milestone for Menzies as we strengthen our full-service capabilities in Wales. Wales has always been a very important market for Menzies and this merger underlines our long-term commitment to growth in south Wales. It will create new job opportunities and enable us to offer an even higher level of service as we reinforce our commitment to providing the best offering to clients throughout Wales.
Clive Edwards, partner, at HWW, said: We are excited about the opportunities that partnering with Menzies will create. It was important to us that we remained an active cog within any organisation we joined, to both protect the efforts of our staff to date and better enable us and our clients to embrace all the positive uplifts such a transaction will bring. We are confident that this merger will unlock new avenues for growth, strengthening our presence in Wales while offering the best service to clients as we have always done.”
Vicky Carter, partner at HWW, said: “Menzies shares many of our values which makes the combination of our two businesses a natural transition. By bringing together our strengths, expertise and vision, we are enhancing the depth and breadth of our services for our clients in South Wales. We’re confident that that this partnership will not only benefit our clients but also foster a dynamic environment where our staff can collaborate, innovate and succeed together.”