PracticeConsultingLevy Gee enters consolidation race

Levy Gee enters consolidation race

Top 20 firm Levy Gee is the leading presence behind a secret consolidator, called Numerica, which is aiming to acquire accountancy firms across the UK.

The mid-tier firm, number 18 on the latest Accountancy Age Top 50 league table, has been discreetly approaching firms in recent months with a view to getting them to join up.

Consolidation experts believe Levy Gee is the largest single element of Numerica, which is working towards private equity funding and listing later this year, while looking to pick up smaller firms with similar cultural backgrounds. Levy Gee declined to comment.

The aim of accountancy consolidators is to bring a series of firms together in one umbrella company to offer a wider range of services at local level and introduce economies of scale.

Levy Gee’s move will turn up the heat on existing consolidators, which are moving in on the accountancy market.

These include Tenon, which aims to be the largest operation outside the Big Five, Harris Walters, and Jobtel, which recently revealed plans to float before the end of the year.

But Jonathan Freedman, FD of Tenon ? which has leapt to number 15 in the Top 50 – welcomed the revelation. ‘The competition will be good for business. I am sure there are one or two other unknown consolidators out there as well,’ he said.

Gordon Gilchrist, Twenty Twenty Group consultant, agreed and added: ‘Levy Gee has been well understood to be in the consolidation hunt.’

Links

Top 50: UK firms push £7bn mark

Woolf appointed senior partner at Levy Gee

Exclusive: City firm is Jobtel backer

Jobtel creates new practices

‘Mystery’ third consolidator named

Jobtel to iron out ‘differences’

Jobtel hands over reins

Jobtel on guard as consolidation shortlist drawn up

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