Parker & Co acquires neighbouring practice

Accountancy practice Parker and Co has signalled its “post-pandemic readiness” by acquiring another business as well as launching a new website.

The Newport-based firm has expanded after the acquisition of neighbouring practice Griffiths and James Accountants of Cwmbran.

Parker and Co will now have two offices, the one in Cwmbran will remain as Griffiths and James to provide continuity for its clients, and will join its sister practice Parker and Co based from Summit House, Waterside Court, Newport.

The enlarged practice will operate with a staff of 11, which includes three joining from Cwmbran.

The business will be run by Gareth Pinder, who joined Parker and Co in March. Former owner David Griffiths is set to retire from the practice but will be on hand for six months to ensure a smooth handover.

Gary Parker, head of the new business, said: “The acquisition of the practice, which we have come to know well over the years, presented an opportunity to expand Parker and Co by the acquisition of a very reputable practice. This will extend the depth of experience we have as a whole.

“Services will remain the same but will have more depth of experience to help clients with the various business issues that come up on a day to day basis.”

Parker added the pandemic lockdown created ‘challenges and delays’ in completing the acquisition but he “had to be bold and confident” in pressing on.

He continued: “We started talking to David a year ago and were set to compete on 1 April but Coronavirus caused us to delay. Despite the risks and current challenges in business I believe now is the time to be positive and move forward in the true ethos of adventure in business.

“The priority now is to get to meet all of David’s clients and reassure them that it will be business as usual and no interruption in the services provided. Karen Tingey and Gloria Dodd will continue to run the office and David Griffiths will be around too.”