• Swindon & Wiltshire M&A, deals
• Monday August 12 2024
• Author Name: Peter Davison

Accountancy firm Monahans grows by a third with two acquisitions

Accountancy firm Monahans has acquired two South West financial services firms, growing the size of the business by a third by headcount.

As part of a growth strategy, which saw the Swindon-headquartered firm receive a significant investment from Sumer Group last year, McGills Chartered Accountants and The Insolvency Company will now come under the Monahans umbrella, marking a 30 per cent increase in Monahans’ headcount.

The acquisition of Gloucestershire-based McGills adds offices in Cirencester, Malmesbury and Fairford, to the Monahans portfolio, taking its office number to ten.

McGills’ team of three partners and 30 staff will seamlessly continue to provide accountancy and business advice to clients in the Cotswolds, while also benefitting from Monahans’ wide-ranging experience, with specialist services including audit, insolvency, corporate finance and HR.

McGills’ established presence in the region, having originally formed in 1966, and proven track record with predominantly SME and owner-managed business clients, made the firm a prime candidate to be a part of Monahans’ continued expansion.

Monahans said the firms share a close set of common values and ethos, and are confident this new partnership will expand the availability of high-quality services to businesses and individuals in the region.

Monahans’ managing partner Simon Tombs said, “McGills has been providing excellent financial and business advice to organisations in the Cotswolds for more than half a decade, with an unrivalled reputation in the region.

“The firm complements Monahans in its expertise and shares the same focus on providing an excellent service for its clients.”

McGills partners Simon Nuttall, Sharla Dandy and Helen Jones will become partners at Monahans. Simon Nuttall said: “We are delighted to be joining forces with the team at Monahans. They have a great culture, which reflects our own beliefs and drive for quality, as well as a shared dedication to our clients. We think this move will be great for us, our clients and our local communities.”

Meanwhile, The Insolvency Company’s provision of a range of debt advice from its offices in Taunton will enhance Monahans’ business recovery and insolvency practice.

“The company’s founders, Gareth and Stephanie Buckley, will also join Monahans as Partners, while its team is due to move into the firm’s Taunton office over the coming months.

Simon Tombs added, “As a family-run business and with 50 plus years of combined experience to strengthen our debt advice offering, The Insolvency Company is a perfect fit to be a part of the Monahans Group, from the perspectives of both culture and expertise.

“These acquisitions present great opportunities for our teams, consolidating extensive knowledge and experience, and broadening our reach across the south-west region in line with our growth plans.”

The Insolvency Company’s Gareth Buckley added: “Monahans has a longstanding history of impeccable client service through the south-west and a commitment to its culture across its multiple offices.

“It is the perfect partner to help our friendly and professional team build on its offering, supporting those experiencing financial difficulties or seeking to navigate their company through administration or liquidation.”

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