Menzies LLP, one of the UK’s leading business advisory and accountancy firms, has announced its merger with Haines Watts Wales (HWW). Formerly part of a top 15 accounting and advisory network, HWW supports a broad range of businesses in Wales including corporates, SMEs, not for profit organisations and entrepreneurs.
Joining Menzies brings HWW into the HLB network that is presently the 8th largest in the world.
The news will see a dedicated team of 20, including two new partners, join forces with Menzies to expand its Cardiff office to over 40 people with a combined fee income of £4 million.
Through this merger with HWW, Menzies will enhance its existing Business Recovery & Advisory services with the addition of Audit, Accounts and Tax services.
John Cullen, Partner at Menzies LLP, said:
“The merger with HWW represents a strategic milestone for Menzies as we strengthen our full-service capabilities in Wales. Wales has always been a very important market for Menzies and this merger underlines our long-term commitment to growth in South Wales.
“It will create new job opportunities and enable us to offer an even higher level of service as we reinforce our commitment to providing the best offering to clients throughout the principality.”
Clive Edwards, Partner, at HWW, added:
“We are excited about the opportunities that partnering with Menzies will create. It was important to us that we remained an active cog within any organisation we joined, to both protect the efforts of our staff to date and better enable us and our clients to embrace all the positive uplifts such a transaction will bring.
“We are confident that this merger will unlock new avenues for growth, strengthening our presence in Wales while offering the best service to clients as we have always done.”
Menzies said both firms ‘share similar values, offering the expertise of a larger firm combined with the personal service of a local practice, and a deep understanding of the Welsh market and local business issues’. It added that Menzies and HWW also share a strong, people-centric, client-led culture and are ‘managed by partners who understand what it means to build a business locally’.
Vicky Carter, Partner at HWW, said:
“Menzies shares many of our values which makes the combination of our two businesses a natural transition. By bringing together our strengths, expertise and vision, we are enhancing the depth and breadth of our services for our clients in South Wales.
“This partnership will not only benefit our clients but also foster a dynamic environment where our staff can collaborate, innovate and succeed together.”
This merger marks a major milestone for Menzies as it continues on its growth trajectory to reach £85 million in revenue this financial year – a figure double that achieved just five years ago.
