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Menzies

Background Summary

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 500 staff members.

Specifically, the group’s operations are spread across Cardiff, Farnborough, Heathrow, Leatherhead, Central London, Solent, and Woking.

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.

Financials

Menzies’ most recent financial results covered the year ended 30 June 2023, where it posted a turnover of £58.4m. It also posted a profit before tax of £20.54m with an operating profit of £20.56m.

Recent Coverage

Most recently, Menzies announced a merger with London-based firm Butler and Co as part of its ongoing growth strategy and plans to expand in the capital. Butler and Co specialises in audit and serving international clients, and its dedicated team of 12 will be joining forces with Menzies’ existing 150-person London office.

Furthermore Menzies LLP announced it had merged with Wagstaffs Chartered Accountants (Wags), based in Hertfordshire, marking an important step in the firm’s ongoing growth strategy. With Wags boasting a longstanding presence and a dedicated team, this merger reinforces Menzies’ commitment to expanding its geographical footprint and service offerings. The combined entity will operate under the Menzies brand, leveraging synergies to enhance client services, particularly in audit, tax, and advisory areas.

Moreover, Menzies promoted Rachel Lai and Phil Wright to partnership roles, recogniaing their contributions and expertise within the firm. Lai, a licensed insolvency practitioner, specialiaes in managing formal insolvency proceedings and debt recovery, demonstrating a strong track record in client advisory services. Wright, instrumental in establishing Menzies’ Outsourced Finance Director service, excels in advising SMEs on financial management and business planning. These promotions underscore Menzies’ commitment to nurturing talent and providing high-quality services aligned with client needs.

In a strategic transaction, Menzies facilitated the sale of Artic Building Services Ltd to Mecsia Group, backed by Rockpool, showcasing the firm’s expertise in corporate finance and tax advisory services. The acquisition enables Mecsia to strengthen its engineering capabilities and expand its customer base, particularly in healthcare and education sectors. Menzies’ corporate finance team, led by Kevin Paget, provided comprehensive guidance throughout the sale process, ensuring a seamless transition and strategic alignment for both parties involved.

Additionally, Menzies played a pivotal role in overseeing the acquisition of architecture practice Weston Williamson + Partners by consulting and engineering firm Egis. This cross-border deal enhances Weston Williamson + Partners’ international reach and design capabilities, while bolstering Egis’ global presence in infrastructure and design sectors. The transaction underscores Menzies’ proficiency in managing complex cross-border transactions, with Andrew Sims at BCMS, Kevin Paget, and other advisors contributing to the successful completion of the deal.

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