Partner Article

Rowlands accountants buy Hexham's Tax Assist

One of the region’s largest independent accountancy firms has acquired a second practice in Hexham as part of a growth strategy.

Rowlands Accountants, who already operate a Hexham office, along with bases in Ponteland, Sunderland, Yarm, Crook and Chester le Street, will rebrand Tax Assit’s Battle Hill office.

The acquisition, which took place just before Christmas, expands Rowlands’ Northumberland team from 12 to 14 specialists.

Rowlands’ partner Alan Hynd secured the deal, and said: “Tax Assist is a franchise. When I first contacted Anna, a sale was already underway but that fell through and we were able to capitalise. Negotiations started in October and it has been a very straightforward process.”

The move follow’s Tax Assist owner Anna Beadle’s decision to sell up ahead of a move to Scotland where her husband has secured a teaching job.

She said: “I was in the midst of selling to another franchisee when Alan contacted me so I went back to him to see if Rowlands was still interested when the deal fell through.

“I was looking for somewhere with a similar client base to me. While Rowlands are a bigger firm, they deal with a lot of small to medium sized businesses so have been a perfect fit, offering the type of service that my clients are comfortable dealing with. I’ve met Alan a number of times and the wider team is great and extremely professional.”

The deal tops off a strong year for Rowlands as the North East emerges from the effects of the economic downturn.

Mr Hynd added: “It’s not to say that we haven’t been affected by the recession, but we have been able to maintain our customer base through good management and strategic acquisitions.

“We are looking to continue to expand strategically and are open to discussions with businesses that could be an appropriate fit with ours.”

This was posted in Bdaily's Members' News section by Tom Keighley .