Midlands business advisor Cooper Parry has bought the Haines Watts London business, adding 11 new offices to its Ƶ footprint and taking its headcount to 1,150.
It means Cooper Parry, which has its head office next to East Midlands Airport in Castle Donington, and a big presence in Birmingham, will have tripled in size in just 12 months after partnering with Waterland Private Equity.
The deal is due to complete at the end of 2023 and will establish Cooper Parry as the Ƶ’s 11th largest accountancy firm – with plans to hit turnover of £250 million by 2025.
Chief executive Ade Cheatham said: “We’re always looking for firms that are a right fit, culturally and strategically.
“As a result, we’ve got to know Michael [Davidson, Haines Watts managing partner] and his management team over the best part of five years.
“In that time, we’ve been impressed by their growth and recognize the like-minded nature of both firms.
“Working alongside them, this deal underlines our determination to create the Ƶ’s next gen accountancy firm.
“Bringing together two great businesses as one strong team takes our London headcount to over 500 people.
“It also elevates us to the next level as a Ƶ mid-market heavyweight. In addition, the strong bank of specialist talents and diverse client base in London, the South and right across the Midlands will allow us to continue to outperform the market.
“We now have genuine momentum and can demonstrate real strength and scale in London. What’s more with more strategic hires, specialist team lifts and continued geographic expansion via M&A, we’ve created a platform for future growth.”
The national Haines Watts business has more than 40 offices and the deal involves 11 regional offices in London, the South East and West Midlands.
It will take Cooper Parry’s turnover to £125 million and follows record-breaking organic growth for the firm and following its acquisitions of London-based iHorizon and Acclivity in February and Future Perfect in April 2023.
Michael Davidson said: “I am extremely proud of the growth we have achieved over the past 10 years, of which the London region has been a significant contributor.
“As we look to the future, we feel Cooper Parry are an ideal fit for our future as we can plug into their progressive, next generation and proven approach to both people development and client service, offering a compelling choice for ambitious owner managed businesses, and a thriving culture for our people.
“This is an exciting and rare opportunity to drive quality and change in the mid-market, as we look to further the Cooper Parry brand in London and the surrounding areas.”
