South east-based firms confirm intention to merge later this year
TOP 50 FIRM Kreston Reeves is to merge with fellow south-east based firm Spofforths, effective from 1 June.
The move will create a firm of around 55 partners, and more than 450 staff, spread across 10 locations across the south-east.
Further details of the merger, and of its management team, will be revealed in late May.
Reeves sit 29th with a fee income of £21.6m in the most recent Accountancy Age Top 50+50 table sponsored by Wolters Kluwer, while Spofforths occupy 64 with a fee income of £9m.
Managing partner of Kreston Reeves, Nigel Fright (pictured left), said: “We are delighted by the prospect of this merger, which reflects our mutual ambition to expand in the south east. Spofforths is a successful firm that shares our values and strong personal commitment to clients.
“Together, the new firm will be able to offer our people better career opportunities, retaining yet developing the teams we know our clients value. We see great potential in joining together in an evolving market where standing still is not an option.”
Richard Spofforth (pictured right), managing partner of Spofforths for the past six years, said: “The merger is being undertaken by both firms from a position of strength, with each bringing skills and experience to the other. It’s going to be an exciting time for all of us: it’s a joint step forward and together we’re going to build a firm for the future that responds to all the changes around us”.
“Our clients will continue to be looked after by the people they have always known. What will change is an increase in the depth and breadth of services we can offer.
“For all the combined partners and staff there will be greater career development, fulfilment and all the other benefits that come from working as part of an ambitious and expanding firm.”