A Yorkshire accountancy firm has acquired a Scottish company in a bid to rapidly expand its business advisory services.
Northern Accountants has completed the deal for Empowered By Cloud, an accountancy business for the trades and construction industry, for an undisclosed six-figure sum.
The transaction adds 50 new clients to Northern Accountants, which has an office in Beverley and headquarters in Leeds, taking staff members to 45 and total client base of more than 400.
Established in 2008, Northern Accountants will now operate with a combined annual turnover of £3m across offices in Leeds, Hull and Edinburgh.
Founder and managing director Phil Ellerby said: “The acquisition of Empowered By Cloud brings invaluable capabilities to Northern Accountants and enhances our Full Finance Function offering, because we can now provide expert finance director services.
“This move allows us to go beyond the compliance services we are well known for, such as tax planning and accounts, to become an integral part of our clients’ businesses.
“There is a really strong synergy between the two firms, particularly in the construction and trades sector, where Northern Accountants can now offer comprehensive business advisory services – as well as helping to set objectives, we can now advise on digitisation, process implementation, sales and marketing, brand building and exit strategies.”
Graeme Morrison, a chartered accountant with 30 years’ experience, has been appointed to Northern Accountants’ senior leadership team, having previously been a director at Empowered By Cloud.
“The merger of Empowered By Cloud and Northern Accountants will significantly bolster our growth prospects and provide all our clients with enhanced support through a more extensive and organised structure,“ he commented.
“We are looking forward to be able to offer financial director support to Northern Accountants’ existing clients and the move should help us to drive forward and diversify from the construction sector and take what we have learned there into other industries.”
Don’t miss the latest headlines with our twice-daily newsletter – sign up here for free.
This post was originally published on here
