PracticeAccounting FirmsCharteris buys Cedalion

Charteris buys Cedalion

Charteris has acquired Edinburgh-based finance and risk management consultancy Cedalion for £3m.

Link: Charteris guides way to BACS

The deal equates to £2.7m in cash, while £0.3m is raised through the issue of over one million new shares.

David Pickering, chief executive of Charteris, said: ‘I’m delighted that this acquisition will expand Charteris’ offering, widening our reach in the Scottish market and augmenting our offerings to high-growth segments of the market such as infrastructure and risk management.’

Cedalion has two operating divisions. It specialises in the provision of bespoke applications to the finance industry, and has recently helped clients deal with EU and US legislation including Basel II requirements, as well as planning and deploying Microsoft infrastructure and platform technologies. Its clients include HBOS, Aberdeen Asset Management and NHS.

Integration between the two businesses is not expected to have any ‘material financial implications’ and Charteris believes there are ‘good prospects’ that the acquisition will contribute to its profit in the current financial year.

Related Articles

Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin
EY, Deloitte lead Big Four in gender pay gap reporting

Accounting Firms EY, Deloitte lead Big Four in gender pay gap reporting

2m Emma Smith, Managing Editor