Magma Group announces merger, partner promotions

The Magma Group has announced a merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants in a deal finalised on 3 February.

The merger aims to form “a leading provider of accountancy and advisory services to the private business sector” and comes as Rugby-based Magma Group looks to “expand its Midlands footprint and network”, the statement said.

Clear & Lane is a Leicester-based firm with “a strong reputation and track record of working with successful Owner Managed Businesses spanning over 30 years”. The firm will be referred to as “Clear & Lane Chartered Accountants, Part of the Magma Group”.

Existing Clear & Lane partners David Hope, Ian Hunt, and Jim Reece will remain in the business, with Luke Turner and Paul Orton joining the Magma partnership team.

Mark Tuckwell, Magma Group managing partner said: “With nine partners, all under 45 years of age, we are committed to building a dynamic and forward-thinking firm. Both Magma and Clear & Lane share a real passion for providing ‘big firm’ expertise, without compromising client service and value, making this a really exciting synergy.

“We’re greatly looking forward to combining the strengths of the two fantastic teams in Leicester and Rugby, expanding our local and national network and vast capabilities. And ultimately, delivering the very best for our clients.”

Clear & Lane’s managing partner, David Hope, said: “We are very excited to be teaming up with a strong group of advisors at Magma.

“Our principle objective is to ensure that our clients continue to receive a high quality service, but enhanced by the broader range of services that Magma are able to provide and therefore add value to the expanded Group’s offering.”

Partner promotions

Following the merger, Magma Chartered Accountants announced that two senior tax managers have been appointed partners.

Jon Kicks and David Buck have both been promoted, taking the number of Magma’s tax partners for four, leading a team of 22.

Andrew Wilson, senior tax partner said: “David Buck and Jon Kicks have made a significant contribution to our tax business. Their well-earned promotions are testament to our Owner Managed Business and High Net Worth tax offering, which we are confident is now the strongest anywhere in the region.”

Related reading