Shaw Gibbs acquires Herbert Parnell

Shaw Gibbs has acquired Herbert Parnell, a three partner accountancy practice based in Surrey.

The addition of the Herbert Parnell office will result in a 225 person-strong practice based over five offices located in Oxford, Basingstoke, Farnham, London and Woking.

The firm said the acquisition is a “significant step” in strengthening its position in the Surrey-region and broadening its service offerings. It added that the merger will also allow it to expand its expertise in the healthcare sector. 

Herbert Parnell, which specialises in the dentistry sector, has over 100 years in the industry and a “bank” of clients who have been with the firm for decades. 

The combined entity will reportedly leverage Shaw Gibbs’ “extensive experience” and Herbert Parnell’s “deep local knowledge” to offer a comprehensive suite of accounting services, including tax planning, audit and assurance, outsourcing and business advisory services.

Shaw Gibbs assured that clients of both firms can “expect a seamless transition” as the integration process moves forward. 

Peter O’Connell, managing partner of Shaw Gibbs, said: “We are delighted to welcome the talented team from Herbert Parnell into the Shaw Gibbs family. This acquisition aligns perfectly with our growth strategy and our commitment to delivering top-notch accounting solutions. Together, we will build on our respective strengths to provide even greater value to our clients.” 

Adrian Peckham, partner at Herbert Parnell, said: “This is a fantastic opportunity for our clients and our team. Joining forces with Shaw Gibbs allows us to provide even greater support to our clients as they navigate the complexities of the financial landscape.”

Andrew Hodgetts, partner and descendant of one of the founding partners of Herbert Parnell, added: “We have come to a point where we can see the benefits of joining with a larger entity in order to provide our employees with access to wider resource to progress their careers and tap into expertise for the client-base. 

“I am so proud to have been part of the success of Herbert Parnell to date and I am looking forward to partnering with Shaw Gibbs for the next incarnation.”

Lance Redman, Audit partner, concluded: “I have long-standing relationships with my clients with some having been with me for more than 30 years. One of the aspects of the Shaw Gibbs acquisition which I am very pleased about is that we will continue to hold the same relationships and from the client’s perspective, there will be very little change. 

“If anything, the team at Herbert Parnell will have more time to dedicate to client service by handing over the operations of Herbert Parnell to the team at Shaw Gibbs.”