Who are Menzies?
Founded in 1912, Menzies is a firm of accountants, finance, and business advisors, who operate across offices throughout the UK.
While the group claims to provide its clients with “easy access and local knowledge”, it also acts as a member of HLB International. In turn, Menzies works with businesses that are expanding overseas and will benefit from an outward perspective that can be offered through the membership.
Led by Julie Adams, the Woking-based managing partner at Menzies, the group has over 400 staff members.
These employees work to a “brighter thinking approach”, where strong client relationships are placed “beyond the numbers” at the centre of the Menzies’ ethos.
Specifically, the group’s operations are spread across Cardiff, Farnborough, Heathrow, Leatherhead, Central London, Solent, and Woking.
What do they do?
Menzies says that its key strength is “focus”. The firm uses a client focused approach to understand individual businesses with sector expertise, in turn offering in depth insights.
The group offers a full range of accountancy services, including tax, corporate finance, audit and compliance, and business recovery, as well as some non-traditional services, such as strategic advisory, outsourced HR and FD support, franchising, and business valuations.
The industries the Menzies cover stretches across business services, healthcare, hospitality and leisure, manufacturing, property and construction, retail, transport and logistics, and technology.
Menzies also runs a specialist wealth management office in London, providing independent financial advice to both private and corporate clients.
Menzies’ most recent financial results covered the year ended 30 June 2019, where it saw turnover rise 5.8% year-on-year to £42.8m.
In turn the group’s operating profit for the period increased to £13.5m, up from the £11.2m profits in FY18.
The firm also increased its pre-pandemic liquidity, with net assets climbing 13.4% from £12.6m at the end of FY18 to £14.3m at the end of the following period.
In the news
The firm has most recently been in the news due to the appointment of Andrew Norman as its new director of VAT in April 2021. Having joined the group from a Big Four accountancy firm, Norman has also spent four years at HMRC’s VAT department.
However, Menzies’ major happening thus far in 2021 has been its merger with Masons Accountants, a Slough-based accountancy group. The deal will see capacity added to Menzies’ Heathrow office so as to accommodate Masons’ three partners, as well as its wider team.
Menzies has also advised on a pair of key transactions in February and March 2021. The former saw Menzies’ corporate finance team secure a £2m fundraising initiative for digital product specialist Ostmoder. Meanwhile, the latter consisted of the sale of Anabas, a facilities management provider, to Armonia, a global facilities management business.