Champion Accountants agrees a management buyout (MBO) of its Southport office for an undisclosed fee
NORTH WEST firm Champion Accountants has agreed a management buyout (MBO) of its Southport office for an undisclosed fee.
Located on Hoghton Street, the practice will rebrand as Advance Accountancy and continue to be led by directors Bob Thompson and Janice Hurst.
Champion was founded in 1971 and has grown to become one of the region’s largest firms for SMEs. The firm now has 110 staff across offices in Manchester (head office), Chester, Preston and Blackpool.
Ged Cosgrove, group managing partner at Champion Accountants, said: “As two businesses we came together when our service offering was still traditional accountancy support, yet it’s always been the group’s collective goal to remain at the forefront of technology and reinvent our offering so to align with the needs of modern business.
“Southport will operate more successfully apart from the group infrastructure and this MBO will enable them to service their market as an agile, independent business, whilst we concentrate on the future of Champion.”
Bob Thompson and Janice Hurst, directors at Advance Accountancy, added: “It’s been incredible being part of the Champion Group for the last 15 years, helping us to grow the business to what it is today.
“It became apparent over the last few years that we had different goals for the business and it now feels right to take this forward as Advance. We’re excited about what the future holds for Advance and all of its clients.”