Baldwins has made a further substantial investment in Wales by joining forces with Broomfield Alexander, an independent professional firm.
Broomfield Alexander was established more than 100 years ago and has increased its turnover, both organically and through strategic acquisitions of well established firms in south Wales, and now employs more than 110 professional staff and has an annual turnover of approximately £7.5m.
The Welsh firm will combine with the current Baldwins firm and will be represented by offices in Cardiff, Swansea, Newport, Monmouth and Aberdare, and will have in excess of 160 professional staff.
Baldwins, A Cogital Group company, has 88 offices throughout the UK, employing 2,500 staff with an annual turnover of approximately £200m.
Broomfield Alexander will rebrand on 15 April and will immediately trade as Baldwins, allowing its clients access to the group’s wider range of services including banking and finance, insolvency and forensic accounting.
Broomfield Alexander was ranked 20 in the top 40 charity audit firms in the Charity Finance Magazine survey by audit fees and was the only Welsh firm to be recognised.
In addition, for the fourth successive year, the business was named the ‘most active financial adviser in Wales’ in a data survey undertaken by specialists Experian. In 2018, the corporate finance team completed 18 accredited deals in manufacturing, professional services and healthcare.
Ian Thomas, managing partner at Broomfield Alexander, said this transaction will result in Baldwins being a major player as a business advisory firm in Wales.
He said: “This is an exciting development for us in joining a firm of this calibre. We will be strengthening our position in the market and increasing our investment in technology to further improve our client service in a rapidly changing and challenging environment.
“It will also enable us to provide a wider range of specialist services for the benefit of our clients both nationally and internationally and to continue with our growth plan.”
David Owens, regional managing partner at Baldwins, added: “Baldwins now has £12m annual turnover in south Wales, and Broomfield Alexander joining us underlines our commitment to growing Baldwins in Wales. The two businesses also share a similar ethos when it comes to developing additional services for our clients whilst creating career opportunities for our staff. “
Shaun Knight, board director at Baldwins, said: “Providing a personalised service to the SME market has been a cornerstone of our approach throughout the UK, and mirrors Broomfield Alexander’s values. We are excited by the opportunity to work with a firm such as Broomfield Alexander who have created an enviable reputation using home grown talent.”