Reeves merges with Gatwick rival
Reeves has merged with its rival CLB Gatwick, which will double its size in the region
REEVES HAS MERGED with former rival CLB Gatwick to double its size in the region.
Top 50 firm Reeves has acquired CLB, which was part of the 12th largest firm Haines Watts. The deal included transferring across all four partners and all 12 staff, who join Reeves immediately.
CLB had one office in Horley, with a fee income of about £1.2m. A source close to the merger told Accountancy Age that the firm was interested in ‘driving growth not cutting costs’ in the region.
Reeves’ managing partner Clive Stevens (pictured) said: “This near doubling of turnover at the Reeves office in Gatwick promises to consolidate our already strong position in this crucial part of the county.
“For the clients of both firms the merger means more depth to the services we offer and a greater expertise from our combined partner group. We expect considerable growth, particularly as the economy picks up momentum.”
The four partners to join Reeves (ranked 31 in the Accountancy Age Top 50+50) are: Farouk Durrani, who has experience of UK and US reporting requirements; Martin Neve, also a director of a building society and experienced in the financial services sector; John Pannett a specialist in the restaurant sector; and James Peach, who has particular expertise in legal clients.
Stevens was promoted to chairman, succeeding David Ashman, and will begin the new role on 1 January 2014. Nigel Fright, who joined the firm as a trainee in the 1990s, is due to take on the managing partner role in January.