PKF Cooper Parry and Clement Keys, two Midlands accountancy and business advisory firms, have revealed they are in advanced talks to join forces – creating one of the larger specialised professional services firms in the region.
With over 230 employees, PKF Cooper Parry is one of the larger accountancy and business consultancy firms based in the Midlands*. Since it joined the global accountancy network PKF International in January 2014, the firm has booked strong growth – it has taken on 60 new team members over the last 12 months – and unveiled ambitious plans. Earlier this year PKF Cooper Parry for instance disclosed plans to open a new base in the city centre of Birmingham, with the aim of quickly growing the team to a size of 75 or more, while medium-term targets envisage the firm doubling in size by 2018.
Based in Edgbaston, Clement Keys, founded in in 1885, has seven partners and 100 staff. The firm is currently not a member of an international network but is affiliated with PrimeGlobal, a worldwide association of independent firms.
In a joint statement, PKF Cooper Parry and Clement Keys have shared that they are in advanced merger talks, with discussions expected to be concluded in the coming weeks. “We expect the merger to take place in early January 2016,” explains Ade Cheatham, Chief Executive of PKF Cooper Parry.
If the deal goes ahead, the merged entity will have a combined revenue of £30 million and a team of more than 350 people across its two offices in the East and West Midlands. Cheatham says the strategic move reflects the appetite and commitment both firms have for growing and becoming the dominant force in the region. “This is an exciting and significant merger for both firms. We share a closely aligned vision to be number one in the privately-owned market across the whole of the Midlands through creating a fiercely independent firm.”
Joe Bates, Managing Partner at Clement Keys, adds: “We have spent a number of years growing our market share and so has PKF Cooper Parry. Bringing the two firms together will broaden our services to businesses in our region and strengthen our position in the marketplace.”
* In May last year PKF Cooper Parry brought staff from its Nottingham, Derby and Leicester bases under one roof at the East Midlands Airport. The advisory firm also has a base in London.