A South West accountancy firm has expanded its footprint in the region with the acquisition of two local businesses. Monahans has taken over accountancy practice McGills and rescue services business The Insolvency Company.
The two firms will now come under the Monahans’ umbrella, with the deal increasing the company’s overall headcount by 30%.
The acquisition of Gloucestershire-based McGills adds three South West locations – in Cirencester, Malmesbury and Fairford – to the Monahans portfolio, taking its office number to 10. McGills’ team of three partners and 30 staff will transfer over as part of the deal.
Monahans’ managing partner, Simon Tombs, said: “McGills has been providing excellent financial and business advice to organisations in the Cotswolds for more than half a decade, with an unrivalled reputation in the region. The firm complements Monahans in its expertise and shares the same focus on providing an excellent service for its clients.”
McGills partners Simon Nuttall, Sharla Dandy and Helen Jones will become partners at Monahans.
Mr Nuttall added: “We are delighted to be joining forces with the team at Monahans. They have a great culture, which reflects our own beliefs and drive for quality, as well as a shared dedication to our clients. We think this move will be great for us, our clients and our local communities.”
The Insolvency Company’s founders, Gareth and Stephanie Buckley, will also join Monahans as partners, while its team is due to move into the firm’s Taunton office over the coming months.
Mr Buckley said: “Monahans has a longstanding history of impeccable client service through the south-west and a commitment to its culture across its multiple offices. It is the perfect partner to help our friendly and professional team build on its offering, supporting those experiencing financial difficulties or seeking to navigate their company through administration or liquidation.”
Mr Tombs added: “These acquisitions present great opportunities for our teams, consolidating extensive knowledge and experience, and broadening our reach across the south-west region in line with our growth plans.”