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Swansea firm Unity Accountancy has acquired Llanelli-based TA Llanelli with the support of a £280k loan from the Development Bank of Wales.
The deal brings seven staff and a client base of more than 700 businesses under Unity’s management, while allowing TA Llanelli’s former owner, Roger Bowen, to pursue other business interests.
Unity, launched in January 2023 by digital accounting specialist Cerith Williams and co-director Ben Ruddle, uses artificial intelligence and cloud-based software to deliver real-time financial and tax advice. The company said its approach automates traditional processes and enables it to focus on added-value services and financial planning based on live data.
According to the firm, it hopes the acquisition of TA Llanelli – which was established in 2004 and formerly operated under the TaxAssist franchise – will be the first of several, with another deal planned before the end of the year.
Williams said: “We’ve been ahead of that trend in the sector which has seen more and more accountants provide pro-active business advisory services for their clients, rather than reactive, end-of-year audits. It’s not just that we’ve adopted that approach, but that we’ve got the technology and the know-how needed to use it.
“Taking on TA Llanelli as our first acquisition was an obvious growth step for us. We’ve always planned on growing through acquisition, but their strong local networks and experienced team made them the ideal choice. We’re really grateful for the support we’ve had from the Development Bank of Wales to complete the buyout.”
Sally Phillips, investment executive at the Development Bank of Wales, added: “Bringing together Unity’s expertise with TA Llanelli’s extensive client base will mean SME customers in this part of south-west Wales will have access to high-end, data-driven intelligence, which will support business growth in the area in turn.
“We’re glad to have brought these two leading financial services together, and look forward to Unity’s further growth as they take on future acquisitions.”
The Wales Flexible Investment Fund, financed by the Welsh Government, offers loans, mezzanine finance and equity investments of between £25k and £10m, with terms of up to 15 years.
