THE FIGUREHEAD of new accounting group Cogital has lauded the “synergies” ahead following its acquisition of Midlands firm Baldwins.
Former Deloitte chief John Connolly (pictured) has described the latest building block towards creating an “innovative” advisory group as a “major landmark”.
“[The deal] is part of our strategy to build a different kind of advisory business, underpinned by exceptional levels of innovation and client-focused service. They will have decent local coverage straight off the back and hopefully everything will be up and running at the end of this current year,” Connolly told Accountancy Age.
The Baldwins deal follows quickly from other acquisitions, including Nordic-based accounting outsourcer Visma, and private client experts Blick Rothernberg in London.
“Regarding how the firms Blick Rothenberg and Baldwins will fit in with each other, it will create an overall shape of skill, and will work very well internationally,” Connolly said. “We have the opportunity to capture synergies from different strengths. Blick have a strong reputation and those skills are extremely valuable to take forward.”
He revealed that Baldwins was a practice he had “known and admired” for a long time. Baldwins Holdings’ accounts showed a £15m firm by fee income (y/e 30 June 2015). “I am delighted that we now have the opportunity to work with John [Baldwin] and his team. Baldwins is very entrepreneurial and commercial, and all of the firms fit together very well as they all have a primary focus on the clients.
Connolly also said that there were more deals in the future.
“There will be more acquisitions ahead, though not to the scale of Baldwins and Blick Rothenberg. However, over the next 12 months we will be building out the firm.”
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