This digest provides a concise overview of significant developments in the accountancy sector as of 20 November 2024, featuring major acquisitions, rebranding efforts, and strategic growth discussions.
- FRP Advisory has reported a substantial increase in revenue and EBITDA, attributing growth to both organic expansion and strategic acquisitions.
- Haysmacintyre’s rebranding to HaysMac reflects its strong market positioning and innovative outlook, as highlighted by recent revenue and manpower growth.
- PKF Smith Cooper Systems has unveiled a fresh brand identity in celebration of its ten-year anniversary, marking a milestone with notable industry achievements.
- Quantuma has successfully orchestrated the sale of Acorns Health Care to Ignite Growth, setting a course for Acorns’ regional expansion.
FRP Advisory experienced a remarkable financial upswing, with revenues rising by 32% to reach £77.6 million for the half-year ending in October 2024, and a 44% increase in adjusted EBITDA to £22.3 million. Growth stemmed from a combination of 23% organic development and 9% from strategic acquisitions, including significant partnerships such as with Lexington Corporate Finance and Hilton-Baird Group. The firm’s leadership anticipates full-year revenues of £146.7 million, with CEO Geoff Rowley expressing confidence in their strategic direction, highlighting FRP’s role in guiding businesses through complex challenges.
Haysmacintyre has undergone a transformative rebranding to HaysMac, a move that underscores its evolving identity and commitment to client-centric services. The firm has seen an 81% rise in revenue and a 60% increase in staff over five years, with four new partners joining in 2024. Recognised as an outstanding workplace by *The Sunday Times* and LinkedIn, the organisation’s managing partner, Natasha Frangos, articulated the rebrand’s alignment with innovative and collaborative principles, positioning HaysMac for ongoing challenges and market leadership.
PKF Smith Cooper Systems marked its ten-year milestone with a rebranding initiative that reflects its alignment with the PKF Global network and its sister company. The firm, known for its ethos of self-improvement, has welcomed 10 new team members. Celebrated achievements include being named Sage BMS Partner of the Year and receiving the Customer Success Partner award in 2023. Managing Director Chris Smith noted the rebranding as timely, coinciding with the company’s aspirations for future growth.
Quantuma successfully negotiated the sale of Acorns Health Care to Ignite Growth, facilitating a new phase for the provider of supported living services. Acorns, which caters to adults with severe learning disabilities and autism, will see its current employees retained through the acquisition. This transaction paves the way for Acorns’ regional expansion, with Ignite Growth focusing on organic growth and staff investments. Acorns’ CEO, Sue Vaughan, will continue in a consulting capacity, expressing optimism about the future under Ignite’s guidance.
These developments highlight a dynamic period of growth and transformation within the accountancy sector, with significant strategic moves positioning firms for future success.
