Cheshire-based Langricks Chartered Accountants has acquired accounting firm Michael Bell & Co, formalising long-established ties to form a new expanded practice
The deal doubles the size of the Langricks’ accounting practice, taking the headcount to 19 and turnover in excess of £1m, and adding key tax and audit expertise to its existing compliance and advisory services.
Directors Michael Bell and Chris Langrick are both KPMG alumni, and Bell is a former president of Huddersfield Society of Chartered Accountants and launched West Yorkshire based Michael Bell & Co in 1989. Langricks was set up in 2009.
Commenting on the acquisition, Langrick said: ‘There is a great deal of trust and respect between the two companies and now is the right time for us to take the next steps. Michael was looking for a successful exit plan and less day-to-day operational responsibility. We were looking for a foothold in Yorkshire with a well-respected independent brand.’
Following the merger, Bell will continue to deal with complex tax matters for clients and support the promotion and development of the business in the Yorkshire market.
Bell said: ‘I am feeling really positive about it all. Our clients and the team have got an exciting future to look forward to.’
The merger will provide growth opportunities for staff and the business. ‘With expansion across the M62 corridor there will undoubtedly be increased opportunities to grow careers with us and benefit from our ambitions to be a top 100 accountancy business to work for,’ Langrick said.
The news follows the hiring of non-executive director Andrew Milnes 12 months ago, who took another independent firm to a top 100 positioning. He is passionate about the role of the independent accountancy practice in supporting ambitious SME owners.
Langrick said: ‘Ultimately for independents it’s about having a high quality team delivering excellent service, doing the basics very well, and developing and expanding top end advisory services alongside. This is something that will be at the heart of growing a bigger organisation.’
There are also plans to target future mergers with independent practice owners, he added, particularly firms ‘looking for positive exit solutions’.