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Azets

Background Summary

Azets is an international accounting, tax, audit, advisory, and business services group, established in its current form in 2016. It operates with a UK division, as well as offering services in Norway, Denmark, Sweden, Finland, Romania, Estonia, and Lithuania.

Containing multiple brands in its international network, the group has UK roots stretching back to 1971, achieving organic growth and acquiring over 50 firms when trading as Baldwins. The network’s Nordic history commenced in 1996 as Visma, through the merger of MultiSoft, SpecTec, and Dovre Information Systems.

However, it was via the 2016 joining of Blick Rothenberg and Cogital Group (now Azets), alongside a demerger from Visma, that Azets’ took shape in its current system.

The network has since added numerous firms such as Campbell Dallas in 2017 and Wilkins Kennedy in 2018 to its portfolio, with the existing brands then uniting under the Azets brand in 2020.

Azets is currently led by CEO Peter Gallanagh, and employs approximately 3,916 professionals across the UK as of 30 June 2023, of which 379 are partners in the firm.

Azets told Accountancy Today that it is “the UK’s largest regional accountancy and business adviser to SMEs and is a top 10 UK accountancy business”.

Working with roughly 120,000 clients across Europe, it supports clients across a full range of business sectors and include SMEs, large scale businesses, public sector organisations and private clients.

Backed by UK-based private equity investor Hg Capital, Azets provides expertise and technical advice, but claims it is “driven by a deep human connection between its people and clients”.

Caroline Hutchins, CPO at Azets, says: “Our people and our values sit at the heart of every decision we take. We strive to create an environment where people are encouraged to be themselves. 

“Working towards a common purpose and supporting each other, to deliver a level of service built on achieving together. Recognising that as the needs of our clients and customers change, we’ll work tirelessly to evolve and change too.”

Financials

Azets reported an annual turnover of £361.6m for the period ended 30 June 2023, which shows a 19.07% year-on-year rise.

Recent Coverage

Azets has seen demand for outsourced services rise by 20%, as it also recorded year-on-year revenue growth. The firm’s ABAS team has also traced the rising demand to the acceleration of accounting technology, along with a skills shortage and talent crunch in the industry.

Azets has acquired RSM UK’s specialist medical accounting team. The deal expands the firm’s regional footprint in the South East, North West, and Yorkshire, as the firm welcomes 30 new colleagues.

Azets has appointed Melanie Richards CBE as the new chair of its board. She brings large-scale general management, board, and advisory expertise, with over 40 years of corporate finance and capital markets experience.

Azets UK Corporate Finance has reported annualised deal values in excess of £1bn, with a resilient M&A market and strength across several sectors driving business demand.

Azets has opened a new Bristol office on Temple Back East, the second new office in the central and West region since 2022. The office, which will be headed up by Iain Sanderson, also marks the 87th in the Azets’ UK network

Read more Azets news.

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