Accountancy firm Campbell Dallas has revealed the acquisition of an Ayr-based operator in a move it says helps extend its client base across south-west Scotland and boosts its expertise in the medical, dental and rural sectors.
The firm has taken on Sinclair Scott, an independent accountancy firm dating back more than 100 years. The deal, terms of which were not disclosed, will see all 20 staff and two partners transfer to Campbell Dallas and add about £1.3 million of fee income per year.
The transaction is the first for the latter firm following its merger with Baldwins, part of the CogitalGroup, in October, when the firm announced plans to drive growth in Scotland through a combination of acquisitions and organic expansion.
It also comes after Campbell Dallas acquired Kilmarnock-based White & Co in October 2016 and describes itself now as one of the largest full-service accountancy firms in Ayrshire with a staff and partner complement of 38 in the region.Sinclair Scott provides accountancy, advisory, tax and compliance services to a mix of owner-managed businesses, community enterprises, entrepreneurs, and private individuals.
It also says it has a “strong” client base in the charities, rural, farming and healthcare sectors.
Chris Horne, managing partner of Campbell Dallas, described the deal as an “exciting” move for both firms. He said: “Sinclair Scott is a highly respected local firm with a long history of advising businesses and private clients, and we are delighted to welcome them to Campbell Dallas. The deal provides us with further scale and reach to expand our client base throughout Ayrshire and the south west of Scotland as well as building on our sectoral expertise within the medical, dental and rural sectors. It also provides our staff access to rewarding career opportunities across our growing business.”
Andrew Sinclair, partner at Sinclair Scott, added: “Joining Campbell Dallas presents an exciting opportunity for our clients as we can now offer a full range of advisory services together with access to specialist technical knowledge in areas such as international tax, VAT, corporate finance, banking and restructuring.
“The move will also enable significant investment in IT, providing clients with access to the latest online portals and platforms that comply with HMRC’s focus on Making Tax Digital. It will remain ‘business as usual’ for our clients, many of whom have been with Sinclair Scott for several decades, but we can now offer them access to the resources of one of Scotland’s most ambitious accountancy firms.”
Campbell Dallas, which has more than 300 partners and staff across a network including Aberdeen, Glasgow, Perth, Stirling, and Kilmarnock, was formed in 1999 with the merger of Campbell & Co of Bearsden & Paisley and Dallas Nicoll & Co of Paisley.
Subsequent acquisitions included MacMillan Chartered Accountants of Glasgow in 2005, and Bell & Company of Perth last year.
Campbell Dallas and fellow Scottish accountant Springfords last year joined Baldwins, with both retaining their trading names and continuing to be led and managed by their respective partners.