Management buyout of accountancy firm's IT arm

The IT arm of accountancy firm Cooper Parry has been acquired by its management - and will now change its name to Bamboo Cloud.

CPIT has been bought out by Brett and Vicky Critchley, who first acquired half of the business in 2019.

Vicky Critchley and Brett Critchley will become CEO and executive chairman respectively.

The seven-member ownership team of CPIT is to remain in place along with almost 90 employees.

The full Bamboo Cloud rebrand will be revealed next month.

Vicky Critchley, CEO said: “We 're looking forward to creating our own identity and accelerate our growth as one of the finest Microsoft Dynamics partners in the world.

“Our unique passion for empowering SMBs will continue and we look forward to expanding our offerings and services to a larger global audience in the months to come. ”

Cooper Parry CEO, Ade Cheatham, added: “Following the part MBO back in 2019, this is the natural next step. With exciting global opportunities across the UK and US, CPIT will fully leverage their strong Microsoft relationship to the benefit of our many mutual clients.

“We 'll continue to collaborate on many projects, transforming clients ' IT and finance systems. I 'm super excited to see the next chapter of this story unfold. ”

Brett Critchley said: “Our global accomplishments are rooted in the unwavering commitment we received from Cooper Parry. Together we built a solid foundation for global success, and we can 't wait to embark on this latest part of the journey. ”

Pictured (l to r): Vicky and Brett Critchley, James Parnell (COO) and Ade Cheatham (CEO)