Firms join consolidation move
Baldwins acquires Scots accountancy firms
Business as usual: Springfords partners remain in place
Scottish accountancy firms Campbell Dallas and Springfords have joined Baldwins, the accounting, tax and advisory firm which is part of the CogitalGroup led by former Deloitte chief John Connolly.
Since the launch of CogitalGroup in December last year the group has been growing rapidly and following these latest acquisitions, it will now have more than 4,600 people operating from 137 offices in seven countries.
The deal, funded by HgCapital, will see all Campbell Dallas and Springfords partners transfer across to Baldwins. Glasgow-based Campbell Dallas and Edinburgh-based Springfords will retain their trading names and eight office structure.
Campbell Dallas managing partner Chris Horne said: “Joining Baldwins will allow us to increase our investment in the business, in particular technology, and continue to grow our market share.
“We are firmly focused on the owner managed business and entrepreneurial market, which is also the area of focus for Baldwins and the wider CogitalGroup, so there is a great deal of common ground in terms of strategy and culture.
Campbell Dallas team: business now enhanced, says Chris Horne
“Going forward it will very much be ‘business as usual’…but with our business now enhanced by the scale, investment capacity and specialisations within Baldwins and the CogitalGroup and the added benefits of being part of an international group.”
Vialex, the Edinburgh-based legal services company, advised Springfords whose five partners: Fergus Kerr, Carol Wright, Patricia Reekie, Fiona Donaldson and Jimmy Hair will remain with the practice.
It is the latest in a string of deals handled by Edinburgh-based Vialex in the last 12 months. It recently advised Innis & Gunn on the sale of an equity stake to new investor L Catterton.
Keith Anderson, chief executive of Vialex (right), said: “We are delighted to have helped Fergus and his partners in this deal, which will further enhance the Springfords service capabilities and offers an exciting future for the partners, staff and clients of the firm.”
Patricia Reekie, Partner at Springfords said: “This is a great opportunity to grow the business in Scotland, and will enhance the resources we have available to assist and support our clients across a variety of sectors and areas of expertise.”
David Baldwin, who set up Baldwins in Walsall in the West Midlands in 1971, added; “Joining forces with Campbell Dallas and Springfords will lead to further growth for both businesses.
“We are delighted to welcome the firms to the Group. Both firms are widely regarded for their focus on the SME sector, and they are both entrepreneurial, growth-oriented businesses. We very much look forward to working together to grow the newly enlarged business.”
CogitalGroup was established in 2016 and is led by group executive chairman John Connolly, the former global chairman and UK chief executive officer of the accountancy firm Deloitte.