Leeds-headquartered Northern Accountants has made an acquisition and an appointment to support its growth.
The firm has completed the acquisition of Birkenhead-based TAC Accountants – a property and construction specialist with 167 clients – for an undisclosed sum.
Currently turning over £250,000 per annum, TAC will retain all of its team, including founder Ben Thexton, who is now a director of the new-look firm.
Northern Accountant’s founder and managing director Phil Ellerby said: “We don’t currently have any clients in Liverpool, but as a business we have a personal affinity to the area, and we perform well in TAC’s key sectors. So, when Ben started talking to us about the sale of his company – as part of his three-year plan – conversations quickly gathered pace.
“He now has the brand and infrastructure around him – supported by our HQ team in Leeds – to grow the business in Liverpool. As a practice, Northern Accountants is renowned for the level of service delivered to clients – in fact, we’ve won multiple national awards for the transformational change we’ve implemented – and with Ben’s help, we want to become a leading name in this city too.”
Northern Accountant has also expanded in Hull with the appointment of director Ricky Field. Having originally met Ellerby at college more than two decades ago, Field has joined from cbaSadofskys Chartered Accountants, where he has worked for 23 years, becoming a partner in 2009.
Field will work with the two existing Hull-based Northern Accountants colleagues, as they take new office space at The Beverley Enterprise Centre.
Ellerby added: “The accountancy service provision in Hull is more reactive, than it is proactive. Consequently, there’s a huge gap in the market for a practice that helps clients run their finance functions in the best, most efficient way possible, to fuel company growth.
“While Hull doesn’t represent a new geographical location for us, Ricky’s appointment will really bolster our growth plans here. Plus, I’m a Hull lad myself, so there’s something particularly special about developing our presence in my hometown.”
Back in Leeds, Northern Accountants has doubled its footprint with the purchase of a second office space on Howley Park Business Village, providing it with an additional 1,600 sq ft of space.
Following the acquisition, Northern Accountants will have £1.8m gross recurring fees (GRF), 20 employees and 530 customers in total. The business was established in 2008.