Global accounting and consulting firm Deloitte has acquired Peter Leach & Partners, a UK-based family consulting business. Terms and conditions of the transaction, which will be closed in January next year, have not been announced.
Peter Leach & Partners was founded in 2008 by Peter Leach, who previously spent more than 35 years with BDO in its family business segment. Since its establishment, the firm has grown to a team of six professionals and a number of associates, operating in the UK and internationally, including the Middle East and Asia. The firm offers business consultancy to families, including services as succession planning, the development of family constitutions, and philanthropy services.
For Deloitte – the largest consulting firm of the globe – the acquisition of Peter Leach & Partners significantly boosts its family business unit in the UK. The UK currently has more than 858,000 family businesses, and with the addition of Peter Leach & Partners, the firm can offer a deeper and more integrated service portfolio to clients. In addition, existing customers of Peter Leach & Partners will gain access to Deloitte’s other services including corporate finance and real estate management.
As part of the integration, Peter Leach and Alexandra Sharpe will join Deloitte as a partner. “With over 30 years of experience, Peter is considered the ‘founding father’ of family business thinking in the UK. Alex is recognised as a leading authority on family business and specialises in succession planning and governance issues. We believe that this acquisition gives Deloitte the leading family business consulting team,” says Claire Webster, head of Deloitte’s Private Client Services team.
“I am excited to be joining Deloitte. This is a new adventure which will allow us to share our specialist expertise in family businesses, family offices and family philanthropy with a broader audience. This is a great opportunity to integrate with a leading business advisory firm. Considering the enormous growth potential of this market, combining our forces will enable us to provide our clients with a broader range of services, which will benefit them,” says Leach.