Monahans acquires two South West financial practices

Monahans has announced the acquisition of two South West accountancy firms, McGills Chartered Accountants and The Insolvency Company

As part of Monhans’ growth strategy, which saw the firm receive a significant investment from Sumer Group last year, McGills Chartered Accountants and The Insolvency Company will now come under the Monahans umbrella, marking a 30% increase in Monahans’ headcount.

The acquisition of Gloucestershire-based McGills adds three south-west locations, in Cirencester, Malmesbury and Fairford, to the Monahans portfolio, taking its office number to ten.

McGills’ team of three partners and 30 staff will continue to provide accountancy and business advice to clients in the Cotswolds, while also benefiting from Monahans’ “wide-ranging” experience, with specialist services including audit, insolvency, corporate finance and HR.

McGills partners Simon Nuttall, Sharla Dandy and Helen Jones will become partners at Monahans.

Monahans stated that the firms share “a close set of common values and ethos, and are confident this new partnership will expand the availability of high-quality services to businesses and individuals in the region”.

Meanwhile, The Insolvency Company’s provision of a range of debt advice from its offices in Taunton will “enhance” Monahans’ business recovery and insolvency practice. The company’s founders, Gareth and Stephanie Buckley, will also join Monahans as partners, while its team is due to move into the firm’s Taunton office over the coming months.

Simon Tombs, Monahans’ managing partner, said: “McGills has been providing excellent financial and business advice to organisations in the Cotswolds for more than half a decade, with an unrivalled reputation in the region. The firm complements Monahans in its expertise and shares the same focus on providing an excellent service for its clients.

“As a family-run business and with 50 plus years of combined experience to strengthen our debt advice offering, The Insolvency Company is a perfect fit to be a part of the Monahans Group, from the perspectives of both culture and expertise. These acquisitions present great opportunities for our teams, consolidating extensive knowledge and experience, and broadening our reach across the south-west region in line with our growth plans.”

Nuttall added: “We are delighted to be joining forces with the team at Monahans. They have a great culture, which reflects our own beliefs and drive for quality, as well as a shared dedication to our clients. We think this move will be great for us, our clients and our local communities.”

Gareth Buckley concluded: “Monahans has a longstanding history of impeccable client service through the south-west and a commitment to its culture across its multiple
offices. It is the perfect partner to help our friendly and professional team build on its offering, supporting those experiencing financial difficulties or seeking to navigate their company through administration or liquidation.”