Glasgow accountancy firm, Nicolson Accountancy has been acquired by Opulus Financial, representing the largest acquisition since it launched as a Chief Financial Officer (CFO) Solutions business at the end of last year.  

Founded by Angus and Sue Nicolson more than 20 years ago, Nicolson Accountancy has offices in Glasgow, Kilmarnock and Stornoway and provides leading accountancy, tax and payroll services in addition to specialist Norwegian tax and payroll support. It acts for more than 2,000 clients across the UK and throughout Europe and the US.

The acquisition, funded by previous investment made by N4 Investments and start-up support from Virgin Money, allows Opulus to significantly expand its footprint as the business continues to expand its CFO Solutions offering throughout the country. Terms of the deal were not disclosed.

The acquisition is the business’s fourth deal since inception, joining the smaller acquisitions of John Kerr & Co in Saltcoats, Alexander Marshall in Motherwell and Craig Cleland in East Kilbride.  

Angus and Sue Nicolson will continue working with CEO Matthew Garstang and the wider Opulus team, to help strengthen the accountancy, tax and payroll element of the CFO Solutions business.

Mr Garstang said: “This is a pivotal acquisition in the growth of Opulus Financial.  Nicolson Accountancy is a highly regarded practice in the industry and both Angus and Sue bring a wealth of accountancy and tax experience.

“Their knowledge will be invaluable to the business going forward as we look to further expand our presence across Scotland.”

Angus and Sue Nicolson added: “We are excited to be working with Matthew to expand the services offered to our clients and help build the wider practice.”