Swansea-based Unity Accountancy has expanded with the first of a series of planned acquisitions.
It has acquired Llanelli-based firm TA Llanelli in a deal supported with a £280,000 loan from the Development Bank of Wales.
The deal, the value of which has not been disclosed, provides an exit for owner of TA Llanelli Roger Bowen who will pursue other business interests. It also bringing seven members of staff and a local client base of more than 700 businesses under Unity.
ity’s management.
Unity was launched by digital accounting expert Cerith Williams and co-director Ben Ruddle in 2023. It uses AI technology and cloud-based accounting software to provide business customers long-term financial and tax advice based on real-time data.
Unity confirmed it will be looking to further expand through acquisition with the next expected before the end of the year.
Mr Williams said: “Taking on TA Llanelli as our first acquisition was an obvious growth step for us. We’ve always planned on growing through acquisition, but their strong local networks and experienced team made them the ideal choice. We’re really grateful for the support we’ve had from the Development Bank of Wales to complete the buyout.”
Sally Phillips, investment executive at the Development Bank of Wales, said “Bringing together Unity’s expertise with TA Llanelli’s extensive client base will mean SME customers in this part of south-west Wales will have access to high-end, data-driven intelligence, which will support business growth in the area in turn.
“We’re glad to have brought these two leading financial services together, and look forward to Unity’s further growth as they take on future acquisitions.”