HLB seals merger with Baker Tilly
HLB Kidsons is to push ahead in a merger with Baker Tilly after finalising a deal that will create a firm worth £150m in annual fee income, becoming the eighth biggest firm in the UK.
The two firms have been in negotiations for months and the merger will be seen as a triumph for HLB managing partner Ray Greatorex who tried but failed to merge his firm with Grant Thornton last year.
He is understood to have the unanimous support of all HLB partners despite speculation that a minority were unhappy with the deal being offered.
Early signs are that all HLB offices will merge into the new firm.
The news ends months of speculation and rumour about the future of HLB which will gain stability from the decision.
Accountancy Age revealed in October of last year that HLB and Baker Tilly were in talks which have quietly progressed throughout the end of last year.
HLB had been careful to remain discreet about this merger attempt after news of its efforts to join with Grant Thornton was announced early and seriously handicapped efforts to bring the two firms together.
Links
Kidsons in Baker Tilly merger link
Baker Tilly/HCW merger talks collapsed
Kidsons revamps after merger failure