Accounting Firms

Shenward Accountants eyes third practice acquisition

Fast-growing firm Shenward Accountants has revealed it is looking to continue its expansion by acquiring a third accountancy practice.

Yorkshire-based Shenward has grown rapidly since 2016 and the family-run firm, which already has offices in Leeds and Bradford, now wants to further expand its footprint across Yorkshire looking for other opportunities in Leeds, Bradford, Harrogate, Huddersfield, Halifax or Wakefield.

It said it hopes the opportunity will support the growth of the Yorkshire economy and the accounting industry.

Shenward provides a range of services including general accounting, tax consultancy, audit, bookkeeping and payroll using their own, bespoke, paperless software.

In 2018, the firm completed the acquisition of Leeds-based Cox Costello and Horne, retaining 99% of its existing clients and all of its Leeds office employees.

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Shenward managing partner Sherad Dewedi said the time was “right” for the practice to expand again after a period of “impressive growth”.

He said: “As a business we have a successful track record in the seamless acquisition of other practices, retaining clients and staff and also retaining premises where necessary. We are looking across West Yorkshire and parts of North Yorkshire and wish to acquire practices with gross recurring fees (GRF) of between £50,000 and £450,000.

“We are happy to work with the vendor to ensure continuity and we will support clients and staff every step of the way. Our approach to business is a holistic one and we pride ourselves on a quality, personal service based on what an individual client needs.”

Earlier this year Shenward revealed it had “smashed” its 2020 growth targets with turnover up by 25% in 2019-20, its ninth successive year of growth.The firm, which employs 26 staff, now has clients from almost all sectors based in the UK, USA, Australia, Ireland as well as South East Asia.

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