Brown and Co acquires BookSmart Accounting

Brown and Co has announced that it has acquired BookSmart Accounting in a six-figure deal.

The deal will secure the jobs of BookSmart’s four staff and enable Lydia Read-Potter, who founded the firm in 2019 and is also a lecturer at Kendal College, to exit the business to focus on her work in education.

It is the fifth acquisition in the past seven years for Brown and Co, which has previously acquired a number of smaller firms including Ingalls of Kendal in 2023.

Read-Potter said: “BookSmart Accounting has grown rapidly but I believe it now needs to be part of a bigger firm that can take it to the next level. Brown & Co were the obvious choice as they share the same ethos, prioritise client experience and are at the cutting edge of technology.

“This change will also give the team more scope for progression and enable clients to benefit from the Brown and Co’s wealth of knowledge and experience whilst maintaining the bespoke focus on each business. I am proud and confident to be handing my business over to Chris and his team, and looking forward to taking on a new challenge in the education sector which has become my passion.”

Chris Brown, managing director of Brown and Co, added: “Lydia has built a modern, tech-savvy accountancy practice with a knowledgeable and enthusiastic team. We are pleased to welcome them on board.

“We believe that the current market, in which many established accountancy firms are being swallowed up by big consolidators, offers real opportunities for strong independents like Brown and Co, which have the expertise but can also offer a pro-active, personal service.”

Rob Kenmare of Rebbalt Advisory provided corporate finance to Brown and Co while Sharon Graves of Napthens Solicitors provided legal advice.