Gerald Edelman
Background
The firm was founded in 1946 by Gerald Edelman and Toby Hoffman. Hoffman described Edelmam as having a “magnetic personality”’ and they quickly forged a successful partnership. Unfortunately Edelman died whilst on holiday with his family when he was 35 however Hoffman continued to build the practice, retaining the firm’s name.
The firm originally started with less than 15 employees, in 1958 the group moved to Harley Street, London and grew to have five partners and 25 employees. In 1982, Michael Harris became managing partner and in 1958 the group acquired Bernard Keane and Co. Some time later in 2010, Richard Kleiner became CEO. By 2015, the group had moved to its newest office in Cornhill, London and employed 90 staff with 15 partners.
In 2016 the firm merged with DTE Business Advisory Services and in 2018 rebranded, forming a new partnership with SB&P employing 150 people with 16 partners.
The firm’s executive board is made up of four partners, Richard Kleiner, Deval Patel, Carl Lundberg and Engin Zekia.
Audit and Assurance – The team draws on decades of experience in regulatory compliance, financial reporting and corporate governance, to work with directors and business owners across a wide range of industries.
Bookkeeping and Accounts – The service provides a full range of bookkeeping services to businesses of all sizes, from small start-ups to large multinationals.
Company Secretarial and Statutory Filing – Within this service, the group helps with incorporating a new company or LLP, supporting existing companies or LLPs icons.
Tax – The service offers advice on capital gains tax strategy, corporation tax and private client, inheritance tax and estate planning, tax advisory and property tax services.
Payroll service – The firm’s payroll services help businesses struggling to cover the costs involved with payroll software, security, compliance and staff training. The group tailor the range and level of its services to match the specific needs of businesses and offer ‘value for money’ compared with other payroll providers.
Financials
For the financial year ended 31 December 2023, Gerald Edelman reported an increase in revenues from £15.1 to £19.1m.
The group saw an increase in its audit services from £3.5m to £5.5m. Its non-audit services to audit clients also increased from £2.3m to £2.4m and non-audit services to non-audit clients increased from £9.3m to £11.2m.
Recent Coverage
Mid-tier accounting and advisory firm Gerald Edelman has appointed Will Abell, Paul Twydell and Paul Attridge as partners. Their appointment brings the total number of Gerald Edelman partners to 22.
Abell, who joined Gerald Edelman in 2017 and in the firm’s growing Corporate Finance department, has been promoted to the role of partner.
Meanwhile, Twydell and Attridge have been appointed as partners in the firm’s tax team. Twydell joins the firm following a short career break after leaving Simmons Gainsford as partner at the end of 2023.
Additionally, Attridge, a chartered tax adviser and trusts and estates practitioner, brings nearly two decades of experience to the team in a range of tax matters to benefit owner-managed businesses, their owners and high net worth individuals.
Gerald Edelman has announced that its Corporate Finance team has advised the shareholders of Backgrid on the sale to Shutterstock, Inc.
Backgrid is a global premier destination for celebrity news, known for supplying top media organisations with real-time content from the world’s top photographers for more than three decades.
Through this acquisition, Shutterstock will expand its archive with an additional 30 million+ images and videos across celebrity, red carpet and live events, and add more than 1,400 contributors to its already industry-leading global photographer network.
Gerald Edelman’s Corporate Finance team has advised the shareholders of Medical Imaging Systems Limited (MIS) on its investment from H2 Equity Partners (H2).
MIS, headquartered in London, is a medical equipment distributor and service provider focused on the diagnostic imaging market across the UK and the Republic of Ireland. MIS works with leading global equipment manufacturers in the supply of Ultrasound, Digital Radiography, MRI and CT equipment alongside related medical devices and consumables.
The existing shareholders have re-invested alongside H2 as part of this transaction and will continue to lead the business and work closely with H2 to deliver MIS’s growth strategy.
As well as being advised by Gerald Edelman’s Corporate Finance team, the shareholders were also advised from a legal perspective by Fladgate LLP.
Gerald Edelman has acquired a majority stake in WTT, a provider of consulting and advisory services focused on the contracting industry.
The acquisition comes as Geral Edelman looks to expand its service portfolio to provide clients with a broader range of specialised solutions.
WTT offers tax planning for individual contractors and advice for corporations engaging contractors through personal service companies along with deep expertise in tax investigations from a wide range of practice areas.
The acquisition opens avenues for cross-collaboration between client bases, enhancing the service offered by both firms. This includes tax investigation services, accounting and basic taxation services for specific client segments, VAT, corporate finance, and other advisory services.
Gerald Edelman has advised Norland Equity Partners Limited on its acquisition of The Combined Services Provider Limited (CSP).
Norland Equity Partners was founded in 2022 by Ola Lawal and is a self-funded search fund focused on the acquisition and subsequent growth of small and medium-sized UK-based businesses.
The acquisition of CSP is the second acquisition made by the equity group in 2023.
Gerald Edelman acted as buy-side adviser to Norland Equity Partners, undertaking financial and taxation due diligence, preparing the post-transaction financial model and providing general advice and support throughout the transaction.