Accountancy firm completes sixth deal in ten months
After exchanging in September, accountancy firm Cooper Parry has now completed the deal with Haines Watts. Its London and associated audit and advisory businesses across the South-East and the Midlands (HWSE) have now officially joined the CP team.
12 months in the making, the deal propels the firm to £125m turnover, adds 11 offices, 63 partners and increases the headcount to 1,150 people. It elevates CP to the next level as a genuine UK mid-market heavyweight and establishes them as the UK’s 11th largest accountancy firm*. This represents a tripling in size over the past 12 months since CP partnered with Waterland Private Equity.
HWSE's ex-Managing Partner, Michael Davidson, joins the CP Executive Team as chief growth officer. He’ll be laser-focused on driving business growth and underlining their determination to create the UK’s next gen accountancy firm.
The deal – alongside some high-profile key strategic hires - powers B Corp certified CP towards a vision of being a full UK and Ireland wide firm, taking the latest people count to over 500 in London and the South-East alone.
CP also looks set to break through its publicly stated growth plan. They’re currently on track to achieve their 5-year plan well ahead of schedule. The firm has now completed six deals in 10 months. Underpinned by strong 33 per cent organic growth for the first half of the current financial year, CP is on course to double in size again over the next 2 years.
Ade Cheatham, Cooper Parry CEO, stated: “Completing this deal is very special. Michael and his team have created an outstanding business and the ‘fit’ between us both is spot on. No question, we are better together.
“I’m genuinely thrilled to be welcoming so many talented people to the CP team.Together, our complementary cultures, knowledgeable teams, and a tech-enabled approach will deliver an even more enhanced client experience.
“The news is timely too, as only a few days ago it was announced that for the seventh year, we’ve made it into the UK’s Top 100 Best Companies to Work For list, as the 30th Best Large Company to Work For. And we are still recognised as the #1 Accountancy Firm to Work For in the UK.
Closing deals like this while maintaining exceptional performance for our clients is never easy. I’m incredibly proud of everyone’s efforts in getting each of these six deals over the line in such a short period of time. This year has been transformational for the firm. Looking ahead to the next phase is equally exciting.”
Michael Davidson, chief growth officer, added: “I’m delighted how this has all come together. Working collaboratively on the integration over the last year has ensured that all the team and our clients have been up to speed with every key milestone. The work the team has already done to combine the two businesses means we’ll hit the ground running from day one.”*Based on Accountancy Age, Top 50+50 Accountancy Firms 2022, excluding networks.