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Accountancy firm Menzies LLP has merged with Haines Watts Wales, expanding its presence in South Wales and bolstering its Cardiff office.
The deal will see a 20-strong team from Haines Watts Wales, including two new partners, join Menzies, bringing the combined Cardiff team to more than 40 people. The office will also have a combined fee income of £4m.
Haines Watts Wales was previously part of a top 15 UK accounting network and served a broad client base, including corporates, SMEs, not-for-profit organisations and entrepreneurs.
It now becomes part of Menzies and joins the global HLB network, currently the eighth largest worldwide.
The merger adds audit, accounts and tax services to Menzies’ existing business recovery and advisory offering in Wales. Both firms cited a shared culture and commitment to local businesses as a key driver for the deal.
The merger supports Menzies’ growth ambitions, as it targets £85m in revenue this financial year – double what it achieved five years ago.
John Cullen, partner at Menzies, said: “The merger with Haines Watts Wales represents a strategic milestone for Menzies as we strengthen our full-service capabilities in Wales.
“Wales has always been a very important market for Menzies and this merger underlines our long-term commitment to growth in South Wales. It will create new job opportunities and enable us to offer an even higher level of service as we reinforce our commitment to providing the best offering to clients throughout the principality.”
Clive Edwards, partner at Haines Watts Wales, added: “It was important to us that we remained an active cog within any organisation we joined, to both protect the efforts of our staff to date and better enable us and our clients to embrace all the positive uplifts such a transaction will bring.”
Vicky Carter, also a partner at Haines Watts Wales, concluded: “By bringing together our strengths, expertise and vision, we are enhancing the depth and breadth of our services for our clients in South Wales.”
