Cooper Parry and Waterland team up to acquire rival firm

Sep 7, 2023 | News

Cooper Parry has acquired Haines Watts London and its associated audit and advisory businesses across the South East and the Midlands.

 

Cooper Parry, the parent company of Cooper Parry Wealth, said it had added 11 offices across London, the South, Birmingham and the Midlands as part of the Chartered account and business adviser purchase. It added its workforce had increased to 1,150 and turnover was now £125m.

It said the business had tripled in size during the last 12 months since partnering with Waterland Private Equity.

The tie-up followed Cooper Parry’s previous acquisitions of London-based companies iHorizon and Acclivity (both in February) and Future Perfect in April.

The businesses said there was “strong synergy” between them and they had “complementary cultures, talented and knowledgeable teams, a tech-enabled approach and an enhanced client proposition have all been key drivers behind the joining of forces”.

Cooper Parry chief executive Ade Cheatham (pictured) said: “We’re always looking for firms that are a right fit, culturally and strategically. As a result, we’ve got to know Michael and his management team over the best part of five years.

“In that time, we’ve been impressed by their growth and recognize the like-minded nature of both firms. Working alongside them, this deal underlines our determination to create the UK’s next gen accountancy firm.”

He added: “Bringing together two great businesses as one strong team takes our London headcount to over 500 people. It also elevates us to the next level as a UK mid-market heavyweight.

“We now have genuine momentum and can demonstrate real strength and scale in London. What’s more with more strategic hires, specialist team lifts and continued geographic expansion via M&A, we’ve created a platform for future growth.”

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Haines Watts managing partner Michael Davidson added: “I am extremely proud of the growth we have achieved over the past 1ten years, of which the London region has been a significant contributor.

“As we look to the future, we feel Cooper Parry are an ideal fit for our future as we can plug into their progressive, next generation and proven approach to both people development and client service, offering a compelling choice for ambitious owner-managed businesses, and a thriving culture for our people.

“This is an exciting and rare opportunity to drive quality and change in the mid-market, as we look to further the Cooper Parry brand in London and the surrounding areas.”

Private equity-backed Cooper Parry said it had completed four deals in six months and aimed to achieve five-fold growth to a turnover of £250m by 2025. The Hains Watts deal should complete by year end.

Source:  Professional Adviser

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