Cooper Parry expects competitive boost from acquisition of Haines Watts London

Cooper Parry’s acquisition of Haines Watts London will give them a competitive edge over its mid-market rivals, according to a spokesperson for the firm.   

The agreement signifies the procurement of Haines Watts London and its affiliated audit and advisory enterprises spanning the Southeast and the Midlands. 

The expansion boosts Cooper Parry’s workforce to 1,150 employees and elevates its turnover to £125 million. Additionally, the deal results in the firm expanding its presence by incorporating 11 offices across London, the South, Birmingham, and the Midlands into its current portfolio. 

“[Haines Watts London] have been on our radar for more than five years,” a spokesperson for the firm said. This has enabled “initial discussions to evolve at the right pace, confirming the likeminded nature of the two firms – strategically and culturally.” 

The firm believes the move will assist it on its journey to become the UK’s “next generation” accountancy firm, with lofty aims to become “scalable, tech-enabled, expertise-driven and specialism focused” for a UK-wide and entrepreneurial client base.  

Cooper Parry’s CEO, Ade Cheatham, said the firm now has “genuine momentum” and can “demonstrate real strength and scale in London.”  

“What’s more, with more strategic hires, specialist team lifts, and continued geographic expansion via M&A, we’ve created a platform for future growth,” he said.  

Following its partnership with Waterland Private Equity in December 2022, Cooper Parry has experienced a threefold increase in employees and turnover.     

Michael Davidson, Haines Watts London managing partner, believes the deal (set to be finalised by the end of 2023) provides the firm with a “rare opportunity” to drive change and quality in the mid-market. 

“As we look to the future, we feel Cooper Parry is an ideal fit for our future as we can plug into their progressive, next generation and proven approach to both people development and client service, offering a compelling choice for ambitious owner managed businesses, and a thriving culture for our people,” he said.  

The deal adds to Cooper Parry’s extensive client list, which includes Lounge Underwear, Tide, and Blakemore & Sons.  

This year has already been busy for Cooper Parry, with the firm becoming the largest UK accountancy firm to attain B Corp status.  

“Business as usual” for Haines Watts 

Haines Watts confirmed that several practices within its nationwide network will be departing from the organisation in the forthcoming quarter of 2023.  

The departing practices encompass Birmingham, London, and their affiliated practices, with the exception of North London, Finchley.   

The de-merger has been a collaborative decision between the departing senior leadership team and the current Haines Watts board members. Moreover, Haines Watts stated that both parties are actively cooperating to facilitate a seamless transition, aiming to minimise any disruption to client services. 

Donna Bulmer, managing partner and group chair at Haines Watts stated consolidation is “common and ongoing” in the accountancy sector.  

“It’s business as usual for all our other Haines Watts firms and our priority remains to be the preferred and trusted partner of choice for our portfolio of 35,000 aspirational business owner clients across the country,” she said.