A Lincolnshire chartered accountancy firm has merged with a counterpart to create a new firm.
Streets Chartered Accountants and Turner Accountants have combined forces to form Streets Turner Chartered Accountants.
The merger is the latest of over seven completed by Streets in the past 18 months, expanding its practice to more than 26 offices and increasing its fee income to over £35m.
Turner Accountants, founded in 1996 by current managing director Mike Turner, brings years of experience to this new venture.
He said: “As with any business we cannot stand still and to overcome the challenges we and our clients face, we needed to develop our business. We looked for some time to find a perfect partner to support us and one with which we share mutual values and we believe we have found that in Streets. Certainly, there is a great match, both in terms of client focus and cultural fit. The merger has also given us the opportunity to promote three, highly valued, members of the team, Henry Abell, Lynda Rainford and Catherine Clifton to directors.
“Now that Turners is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team. We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services including areas of specialist corporate and private client tax planning, banking and finance, international advice, personal financial planning and even a virtual finance office whilst still retaining those personal relationships.
Streets managing partner, Paul Tutin, said: “In line with our strategy to become a truly UK practice we are looking at and working with a number of firms looking to become part of Streets. The merger of Turner Accountants in Preston is the latest in line with our plans to expand our geographical coverage and provides us with an ideal presence in Lancashire.
“Looking ahead with a number of further mergers and acquisitions in the pipeline which include a number of practices across the UK, we are on track to achieve our target revenue of £40m by the end of the year. The profession is going through significant consolidation with heightened levels of merger and acquisition. In contrast to many our approach seeks to build on the success of merging firms, ensuring we retain and build on their winning approach. An approach we believe is particularly liked by many of those looking to exit routes, the challenge of growing their practice or facing increased competition and the need to widen their service offering.”
