SJD Accountancy & Nixon Williams sold!

[ELBBUBKUNPS]

Must admit it would put me off using either of them now, well done to the owners nice profit for them not so sure the buyers have really understood the client base though.

[TheFaQQer]

You could be dealing with criminals then and you wouldn't know. No very smart.

I suspect that those who were using Darren Upton knew who owned the company, and that didn't help them much.

[saptastic]

Must admit it would put me off using either of them now, well done to the owners nice profit for them not so sure the buyers have really understood the client base though.

Why have they not understood the client base?

[Simon C]

Hi,

Firstly apologies for the late reply, I’m the new Group CEO of SJD/Nixon Williams and as you’ll have seen Simon at SJD and Alan and Andrew from Nixon’s have sold their businesses to a PE firm called Sovereign Capital. Despite the holding companies changing from private hands to essentially institutional hands; the companies and their services will remain largely unchanged, both businesses were acquired due to their performance and service delivery. We have so far held off from making a formal announcement to clients due to the reasons debated earlier in this thread which are mainly because we didn’t think clients would be too interested
There are no plans to make wholesale changes to either company and certainly no plans to merge the brands or services provided. There will be plans however, to share best practice across the group. Sovereign bought both companies because they loved the individual business models so wouldn’t want to make any fundamental changes that would negatively affect performance. As for fee increases, there are no plans to make any changes to current policy, fees historically increase to reflect the cost of doing business, but we believe both businesses offer genuine value for money.
Sovereign are a buy and build specialist so do expect enhancements plus the odd acquisition, with 10,000 accountancy practices out there, there is plenty of opportunity for future growth.
I’ll be keeping a close eye on the forum, which is without a doubt the most read contractor forum out there. I trust that this note has cleared away some of the mystery,
Kind Regards,
Simon.

[d000hg]

Admin to authenticate...?

[administrator]

Yes, can confirm that the poster is who he says he is. Welcome to the forum Simon

[AptoAccounting]

Not surprising!

There have been a number of recent high profile acquisitions of umbrellas and freelance accountancy practices recently.

I'm certain that there will be more in the the next 4 years as the market consolidates.