Change Accountants secures six-figure loan following Sunley and Co acquisition

Change Accountants, a York accountancy firm has secured a six-figure loan from NPIF II – Mercia Debt Finance, as part of the Northern Powerhouse Investment Fund II (NPIF II), to support its continued growth following its acquisition of Sunley and Co in Acomb.

NPIF II covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The two practices – which between them employ 12 staff and serve around 800 clients – will continue to operate as separate brands under the direction of Change Accountants’ founder Stacey McVeighty.

The funding will enable her to strengthen the management team and invest in technology and training to continue the growth of the business.

A qualified accountant with over 25 years’ experience, McVeighty established the practice in 2014.

In addition to the standard services such as accounts, tax, VAT and payroll, it produces specialist data to enable clients to create reports such as carbon calculations to comply with the requirements of tender frameworks.

McVeighty said: “The acquisition of Sunley and Co will boost our growth through the addition of an experienced team and enable us to benefit from economies of scale. The funding will allow us to build on that by investing in new technologies and skills to ensure we stay at the forefront of developments in the changing accountancy landscape.”

Andy Clough of Mercia added: “Stacey has built up a successful practice that has been growing steadily and has now doubled in size following the recent acquisition. The loan will enable her to further develop the expertise and services the business can offer as Change Accountants begins a fresh chapter in its growth story.”