Sussex company to merge with a UK top 30 firm
Spofforths, with branches in Horsham; Chichester; Worthing, and Brighton, has announced plans to merge with Kreston Reeves - one of the UK's top 30 accountancy firms.
Kreston Reeves has offices in London; Gatwick; Canterbury; Chatham; Discovery Park, Sandwich, and Eastbourne. It has 39 partners and 300 staff while Spofforths has 16 partners and directors supported by 165 staff.
The merger, announced today (March 16), will create Kreston Reeves LLP - one of the largest accountancy and financial advisory companies in the South-East.
A statement from both companies said the merger, taking effect on June 1, will create a new company with greater depth of resource and breadth of service, more sector expertise, and a stronger base upon which to develop new services.
Nigel Fright, managing partner of Kreston Reeves, 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.
“The result will be a fuller, more innovative, more integrated accounting, business advisory and financial planning service, delivered by 55 partners and more than 450 staff, spread across ten locations in the South East.
“Crucially, it will expand our international reach, which was at the heart of Kreston Reeves’ own renaming in 2015.”
Richard Spofforth, 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.”
The two firms will announce further details of the merger, and of their new management team, in late May this year.
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