Private equity backed BK Plus has acquired its first practice in the south west in a deal with Atkins Ferrie, based in Cornwall
Accountancy firm Atkins Ferrie was set up in 2007 and has two directors, Hannah Collison and Tom Tripp, who both remain after the merger and have become partners. A team of 15 staff will also move across to the new set-up. The practice has been rebranded as BK Plus and focuses on clients in the south west region.
The current office in Helston, near Truro, will be retained, giving BK Plus access to clients in the region and giving the firm a new foothold outside of its predominantly Midlands presence.
The value of the deal was not disclosed.
The move follows private equity firm Palatine’s investment in BK Plus last September and indicates the Midlands based firm’s focus on rapid growth. Last month the firm acquired Cheltenham based Andorran Chartered Accountants.
BK Plus reported fee income of £8.5m for year end March 2023 and profit of £709,656, and has increased revenue by over 60% since FY22, prior to the injection of private equity capital. The firm has 16 partners and 108 staff. The two acquisitions are likely to add at least £3m to total fee income.
The integration of Atkins Ferrie into BK Plus represents a strategic move towards new growth opportunities and an enhanced array of services. The combined strengths of both firms will enable more effective service delivery to a wider client base.
Commenting on the acquisition, Shaun Knight, CEO of BK Plus, said: ‘We are thrilled to welcome Atkins Ferrie to the BK Plus family.
‘This acquisition represents a strategic opportunity for us to expand our presence into the south west and deliver our high quality services to businesses in this vibrant region. We look forward to leveraging Atkins Ferrie’s expertise to drive growth and create value for our clients.’
Hannah Collison, director at Atkins Ferrie, said: ‘Joining forces with BK Plus presents an exciting opportunity for us to continue delivering exceptional service to our clients while gaining access to BK Plus’ extensive resources and network. We are eager to collaborate with the BK Plus team.’
Tom Tripp, also a director at Atkins Ferrie, added: ‘We are proud to become part of the BK Plus family.
‘This merger will enable us to consolidate and expand our enviable reputation of delivering strategic solutions to businesses in the region. We are excited about the possibilities that lie ahead and the positive impact we can make together.’
Pictured (l-r): Tom Tripp, Hannah Collison, Shaun Knight