Merger expands Kreston UK
March 16, 2016
Merger expands Kreston UK.
Kreston UK accounting firm Kreston Reeves www.krestonreeves.com and Spofforths www.spofforths.co.uk have announced their decision to merge on 1st June 2016 to create one of the largest accountancy and financial advisory firms in the South-East of the UK.
When combined, Kreston Reeves will offer the full range of services across 10 locations in the South East with 55 partners, 450 professional and support staff generating fee revenues of GBP£31m – US$45m.
Nigel Fright, Managing Partner of Kreston Reeves, commented:
“We are delighted by the prospect of this merger. Spofforths is a successful firm that shares our values and strong personal commitment to clients. We see great potential in joining together in an evolving market where standing still is not an option. The result will be a fuller, more innovative, more integrated accounting, business advisory and financial planning service, delivered by 54 partners and 465 staff, spread across 10 locations in the South East and well-equipped to advise UK and international clients”.
Richard Spofforth, Managing Partner of Spofforths said:
“The merger is being undertaken by both firms from a position of strength – it’s a joint step forward and together we are going to build a firm for the future that responds to all the changes around us.”
Jon Lisby, CEO of Kreston International added:
“We are delighted to welcome Richard and all the team at Spofforths to Kreston UK and to Kreston International. The growth of Kreston UK across all regions in recent years has been impressive. With the organic growth and mergers achieved over the past year, Kreston UK, as a combined organisation would rank as the 10th largest UK accounting firm with over 2,300 professional and support staff generating fee revenues exceeding US$200m. Kreston UK is perfectly positioned to serve the needs of both inbound and outbound international business”.
Pictured: Representatives of the 2 firms:
Top left to right, David Hurst, Kreston Reeves Financial Planning Ltd and Andrew Griggs, Kreston Reeves.
Bottom from left to right Bryan Elkins, Spofforths, Nigel Fright, Kreston Reeves, Richard Spofforth, Spofforths and Clive Stevens, Kreston Reeves.