Accounting and consulting firms Kreston Reeves and Spofforths have decided to merge on 1st June 2016. The deal creates one of the largest advisory firms in the South-East – combined the firms will have 55 partners, and more than 450 staff, spread across 10 locations in the region.
With a revenue of around £21.6 million, Kreston Reeves is a top 30 accounting and consulting network in the UK in terms of size. The firm is member of Kreston International, a global network of independent firms, with a footprint of 21,000+ professionals the 12th largest in the world.
In line with its growth strategy, Kreston Reeves has agreed a merger with Spofforths, a smaller counterpart with offices in Brighton, Chichester, Horsham and Worthing. Nigel Fright, Managing Partner of Kreston Reeves, says he is “delighted by the prospect of the merger”, adding “Spofforths is a successful firm that shares our values and strong personal commitment to clients. We see great potential in joining together in an evolving market where standing still is not an option.”
The joining of forces will according to Fright enable the firm to offer the full range of services, spanning accounting, audit, financial advisory and business advisory. “The result will be a fuller, more innovative, more integrated accounting, business advisory and financial planning service….. well-equipped to advise UK and international clients.” After integration Kreston Reeves will have 55 partners and 450 professional and support staff across 10 locations in the South East, generating fee revenues of around £31 million.
Jon Lisby, CEO of Kreston International, adds: “We are delighted to welcome Richard and all the team at Spofforths to Kreston UK and to Kreston International.”
Throughout the UK, Kreston member firms have over 2,300 professional and support staff.