Grant Thornton Channel Islands has acquired the audit business of Saffery Champness in Guernsey, in a bid to expand into the local business market, as well as financial services sectors and outsourced finance functions
Grant Thornton now has a team of 165 across Guernsey and Jersey. A total of six staff from Saffery Champness will join Grant Thornton, including Jeremy Ellis as director in Guernsey.
The two parties reported the transaction will have no impact on the rest of the business of Saffery Champness in Guernsey, nor on the wider audit business of Saffery Champness in the UK.
Cyril Swale, head of Office in Guernsey for Grant Thornton, said: ‘This is a good move for all parties. There are significant similarities between our organisations in terms of corporate values and a dedication to client service, so becoming part of Grant Thornton is a natural next step for the team.
Nick Batiste, managing director of Saffery Champness Registered Fiduciaries in Guernsey, said: ‘After a wider strategic review, we have decided to sharpen our focus on our core business areas in Guernsey. We will miss Jeremy and his team, but they have a bright future as part of Grant Thornton in the Channel Islands.’
Adam Budworth, managing director, Grant Thornton Ltd said: ‘I am delighted with this acquisition, the latest in a series we have successfully completed in the last 18 months or so and welcome the team on board.
‘I am also looking forward to completing other transactions in the future as we continue to grow our presence, locally, here in the Channel Islands.’
In October last year Grant Thornton Channel Islands acquired Price Bailey in Guernsey.
