Scottish firm French Duncan is continuing on the expansion trail, with the acquisition of Abercrombie Gemmell Chartered Accountants, a family firm based in Glasgow.
Founded by Colin and Christine Abercrombie 23 years ago, Abercrombie Gemmell has 12 staff and a turnover of £1m delivering a wide range of services, from tax and audit to wealth planning. All staff and partners have now relocated to French Duncan’s offices in Glasgow and Abercrombie Gemmell will be rebranded as French Duncan.
Graeme Finnie, French Duncan managing partner, said: ‘The complementary nature of this development enables the new, combined entity to provide a greater platform of services and skills for our clients. While as a firm, we will always consider good acquisition opportunities, Abercrombie Gemmell stood out for a number of reasons: the quality of its team and the calibre of its client base.’
French Duncan said its turnover will rise to £10.5m following the deal. The value of the acquisition was not disclosed but it comes after the firm took on the tax consultancy team from Chiene and Tait earlier this year. A year previously, it merged with Stirling-based Macfarlane Gray.
French Duncan employs 200 staff across offices in Glasgow, Edinburgh, Stirling, Hamilton, Dumbarton and Kirkintilloch and says its moves to grow and develop the practice has seen it post a 6% rise in UK fee income. It has also joined worldwide advisory network HLB International.
In the 2013 Accountancy Top 75 firms survey French Duncan reported annual fee income of £8m and was ranked 67th in the overall league table. The acquisition will move it up to a mid-50s ranking. To read the complete survey, click here
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