Accountancy firm set for expansion following merger
Hentons, the accountancy and advisory firm, has announced a merger with York-based practice Forster Stott & Co.
Hentons operates a team of over 80 across offices in Leeds and Sheffield. The merger will support its expansion in North Yorkshire, the East of the county and beyond.
The deal, for an undisclosed sum, will see the York team offer a broader range of advisory and tax services to existing and new clients.
Nadeem Ahmed, managing partner of Hentons, said: “Our partner-led entrepreneurial approach has supported the rapid growth of Hentons over the last couple of years. Business owners value the wide range of services they can access through our partners.
“We are now undertaking a period of expansion through organic growth and acquisition that will see us servicing a bigger footprint in the North.”
Steve Kilmartin, managing partner of Forster Stott & Co, added: “Both companies share a focus on providing an excellent partner-led service to clients. Hentons has made a tremendous investment in technology, and our clients will benefit enormously from the new digital platforms.
“It is good news for our clients, who can now also access advisory services ranging from expert tax advice to wealth management and corporate finance.”
Lloyds Bank Commercial Banking provided Hentons with a multi-million pound funding package to support the acquisition.
Lee Rycraft, relationship director at Lloyds Bank Commercial Banking, also commented: “Hentons is now on track to grow its turnover by more than 20% and to create more jobs across its Leeds, Sheffield and York bases.
“Supporting firm’s like Hentons, which has an excellent reputation in the region and in its field, is central to our mission on helping Britain prosper. We’ve grown our net lending to SMEs by 32 to make sure they have the necessary access to finance for growth.”