South: Accountancy firms merge
Menzies LLP and Morley and Scott are to merge to create one of the largest regional accountancy practices in the South East.
The merged firm will be known as Menzies LLP, and Dick Watson, the managing partner of Morley and Scott, joins its management committee which will continue to be led by Mike Sands as senior partner.
The move, which creates a firm with fee income in the region of £32 million, is part of an ongoing strategy to focus on SMEs and smaller corporate enterprises by providing them with specialist accountancy and tax advice.
Mike Sands, senior partner at Menzies, said: “Business owners are struggling with red tape and a highly complex tax regime. They need sophisticated planning advice, and this should be available from their local accountancy firm – they should not be forced to switch to a Top 10 firm just because regulations have become more complicated.”
“We intend to create a firm that is big enough to give business owners the specialist accounting, audit and tax advice they need, whilst still delivering the strong partner-led relationship that they expect from their local accountant.”
Dick Watson, managing partner at Morley and Scott, added: “Whilst we have always guarded our independence carefully, we welcome the opportunity of merging with Menzies, a firm which shares the same ambition, culture, values and approach to client service as Morley and Scott.
“We believe that the enlarged firm, with the capability to expand the specialist services we offer, is an important strategic move for our clients, staff and partners.”
Morley and Scott corporate finance partner John Founding said: “We undertook this merger because we believe that the greater resources of a combined firm strengthens our position in the market and gives our clients access to more specialist knowledge and support, should it be required. Menzies also has a similar ethos to us: it is committed to maintaining partner-led services, supportive relationships and an understanding of the needs of owner-managers.
“Both our firms have similar client bases and together this reinforces our proposition of big-firm capability alongside the intimacy and personal approach of a local firm.”
Menzies has offices at Heathrow, Woking, Blackwater Valley, Solent, Leatherhead and Kingston. Morley and Scott has offices at Slough, Whiteley, Portsmouth and London.
