Mid-tier accountancy firm Chantrey Vellacott DFK LLP is to merge with Moore Stephens LLP.
The firms, which together have been providing services for over 330 years, will use the Moore Stephens name and brand. The combined partnership will become members of the Moore Stephens International network, which has a turnover of $2.7 billion and offices in 103 countries.
“The merger provides a platform for continued, sustainable growth, ” explains Simon Gallagher, managing partner of Moore Stephens. “There are real synergies, not just in terms of the services and sectors but a coming together of similar philosophies and values to form a strong combined firm.”
The primary focus of the firm will be to provide valuable services to owner-managed and global businesses across a broad range of sectors, including both domestic and international private clients.
“This provides an important strategic development for both firms, ” says Mike Tovey, Chantrey Vellacott’s managing partner. “The combined firm will provide our clients with a broader range of expertise, along with an increased depth of sector knowledge and experience. Clients will also benefit from access to much wider UK and global capabilities through the Moore Stephens UK and international network.”
Simon Gallagher believes the firms’ people will make the merger a success. “The partners and staff are central to our strategy going forward. The merger provides genuine career and development opportunities through innovation, growth and financial success. It’s going to be a really exciting time for our people, and I’m sure this will translate into the service we provide to clients.”
Moore Stephens’ senior partner and chairman of Moore Stephens International Limited, Richard Moore, added: “The merger is a fantastic opportunity, not just for the two firms but the Moore Stephens International network, which will be stronger as a result.”
The merger will complete on 1 May, at which point the combined partnership will begin trading as Moore Stephens LLP, with the London offices consolidating into 150 Aldersgate Street over the coming months. Current Moore Stephens managing partner Simon Gallagher will lead the amalgamated firm, with Richard Moore remaining as senior partner. Chantrey Vellacott’s managing partner Mike Tovey will be joining the firm’s Partnership Executive Committee.
About Moore Stephens and Chantrey Vellacott
Moore Stephens is the UK’s 10th largest independent accounting and consulting network, comprising over 1, 300 partners and staff in 34 locations. Chantrey Vellacott is the UK’s 21st largest accountancy firm.
The merger consolidates Moore Stephens UK’s position as a significant mid-tier firm, with a total UK turnover of £156m and over 1, 700 partners and staff.
Moore Stephens LLP is an independent member firm of Moore Stephens International Limited, one of the world’s major accounting and consulting networks with 667 offices in 103 countries. It is widely acknowledged as a leading adviser in a broad range of industries, including shipping and offshore maritime.