Underwood: accounting practices toying with consolidator model

Consolidation is alive and active in the accounting sector with a number of recently completed deals looking not too dissimilar to the consolidations of the early 2000s. Keith Underwood, managing director of Foulger Underwood, considers various consolidator models

Alongside the normal trade purchases, and mergers and acquisitions (M&A), back then Vantis, Tenon and Numerica were acquiring independent practices at premium prices. In the background, American Express and H&R Block were also preparing for their UK ventures.

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