In a move that will likely reshapes the accounting services landscape in the East and South East of England, seven regional accounting firms have merged to create Affinia, a new challenger firm providing accounting, tax, and business advisory services.
The merger, backed by Sovereign Capital Partners, brings together LB Group, RE Group, Dyer & Co., Giess Wallis Crisp, NSO Associates, Baxter & Co., and Clarkson Hyde.
The newly formed group has appointed Darren Redmayne, former CEO of Cardano Advisory, as its Group CEO. Redmayne brings extensive experience from senior roles in M&A, professional services, and asset management, including his tenure as UK CEO at Lincoln International.
With approximately 400 professionals across nine offices in Colchester, Chelmsford, Halstead, Harlow, Ipswich, Orpington, Sidcup, Stratford, and Sutton, Affinia is positioned to become one of the UK’s top 50 largest accounting services firms. The group currently serves over 7,000 clients and aims to double both its headcount and turnover within the next five years through organic growth and further acquisitions.
The merger targets a significant market opportunity in the East and South East of England, which represents around a quarter of the nation’s 2.6 million private businesses and contributes approximately £1.3 trillion to the UK economy. The accounting services market in this region is estimated to be worth about £4 billion, excluding London.
“The launch of Affinia comes at a critical time for UK companies many of which will be grappling with the recent changes announced in the UK Budget,” said Redmayne. “We are committed to growth, improving industry standards and to delivering the best outcomes for our clients.”
The executive team includes Vanessa Emens as Group COO, Rob Harden as Group CFO, and Chris Annis as Head of Accounts Services, all transferring from LB Group. The firm’s name, Affinia, reflects its commitment to client support, financial expertise, and technological innovation.
Alex Hay, Partner at Sovereign Capital Partners, noted that the formation of Affinia marks a major milestone for both the business and the broader accounting, tax, and business advisory market, positioning it as a significant challenger in the sector.