Menzies merges with Butler & Co to accelerate growth

13 November 2023 2 min. read
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Accountancy and strategic advisory firm Menzies has merged with London-based firm Butler & Co, as part of its ongoing growth strategy. The move is the latest in a succession of mergers by Menzies, as it aims to hit an annual turnover of £75 million by June 2025.

Simon Massey, managing partner at Menzies, said, “This merger with Butler & Co represents another important step in the Menzies story, strengthening our growing presence in the capital. We saw several important synergies including culture, clients, and ways of working that made it an excellent fit for us. Audit is one of Menzies’ key strengths and best-performing service lines; the addition of more people to our specialist audit team will further strengthen our proposition.”

Headquartered out of London, with a network of offices across Surrey, Hampshire, Hertfordshire and Cardiff, Menzies has over 600 employees and an annual turnover of more than £60 million. The firm offers a full range of services – including audit and accounts advisory, tax, business recovery, strategic advisory, and outsourced services.

Menzies merges with Butler & Co to accelerate growth

Specialising in audit and serving international clients, Butler & Co has been proud of its strong client relationships and reputation for high quality work. A dedicated team of 12 people will now join Menzies’ existing 150-person London office, while clients in a further 150 countries will benefit from services due to Menzies’ membership of the global HLB network.

Sanjeev Phadke, partner at Butler & Co, noted, “A longstanding commitment to excellence in both our work and client service has defined our firm for many years. Following the exploration of several options for our business, including discussions with private equity firms, it became clear that Menzies’ story represented the best fit for our team. This merger will ensure that our clients continue to see this excellence in every interaction, with the addition of Menzies’ strong Audit team, its Brighter Thinking ethos, and international partner network.”

The move marks another milestone for Menzies’ ‘five year growth plan’, which it began in June 2020 with turnover of £43 million. Via a number of mergers, it is currently on track to reach a targeted turnover of £75 million by June 2025. Merging with Butler & Co will help with this in particular by expanding Menzies’ capacity to meet clients’ needs in London and the south-east of England, where demand for services has grown steadily.