Accountancy firm LHP Accountants has acquired The Alexander Partnership in a pre-pack deal.
The acquisition comes after the company ran into difficulties following the recent insolvencies of entities in the Juno Moneta Group.
Business recovery specialists at Begbies Traynor completed the pre-packaged sale via administration, which saw LHP take over the business, including the premises and clients, while also securing 11 jobs.
With a long tradition of specialising in tourism, hospitality, agriculture and the construction sectors, LHP has seen its client base grow significantly across west Wales in recent years, especially in light of the Making Tax Digital changes.
With offices in Carmarthen, Haverfordwest and Lampeter, LHP has seen a “big increase” in its business advisory services, which have proven to be a valuable asset for established businesses and new start-ups alike.
The team in Tenby will be managed by Mandy Cunningham, supported by Michelle Reynolds. Former director of The Alexander Partnership, Peter Griffiths, will return as a consultant to the practice with directors Matthew Williams and Dafydd Rees, meeting clients and further strengthening the expertise available to clients.
Managing director of LHP, Matthew Williams, said” ‘We are committed to providing The Alexander Partnership clients with the stability and consistency they deserve, with the added support of being one of the largest cloud and book keeping companies in Wales.
“Having grown up in Saundersfoot myself, we are excited to be moving to Tenby and it is great to hear from Peter how the varied range of businesses are doing in this corner of Wales.”
Griffiths added: “We’ve worked so hard over the last 30 years to build a strong, professional and personal relationship with all of The Alexander Partnership clients. I am really pleased that LHP have now agreed to take over the practice and, with their support, I am sure we will continue to those relationships over the next 30 years.
“We have worked with Matthew and the LHP team previously and we really believe that they are a great fit to manage our clients expectations and beyond. I would also like to thank The Alexander Partnership team, who have been through some difficult times over the last few months but should be really excited about the future of the practice.”