Streets Chartered Accountants, a top 40 UK professional service firm, has announced the establishment of Streets Andrew Wright Chartered Accountants.
The announcement follows the merger of the Wakefield practice, Andrew Wright & Co with the fast-growing multi regional practice, Streets Chartered Accountants.
When asked about the merger, Sally Wright, Managing Director, said: “Fellow Director Richard Farndale and I are delighted and excited about the merger. Our practice was founded in 1975 by my father Andrew Wright and over the years the practice has grown based on our reputation and the demands of clients in and around Wakefield.
“As with any business we cannot stand still and to overcome the challenges we and our clients face we need to develop our business. We looked for some time to find a perfect partner to support us and one with which we mutually share the same values and we believe we have found that in Streets. Certainly, there is a great match, both in terms of client focus and cultural fit.
“Now that Andrew Wright & Co is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team, as well as to those looking to enter the profession and new roles locally.
“We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services including areas of specialist corporate and private client tax planning, banking and finance, international advice, personal financial planning and even a virtual finance office.
“As a result of the merger, we are also now able to undertake statutory audits for larger clients, as well as businesses and organisations across West Yorkshire.”
Looking at what the merger means to Streets, the firm’s Managing Partner, Paul Tutin, said: “With Streets’ long established office in Hull it seemed a logical move to look for further practices across greater Yorkshire as we are keen to establish the firm as a leading player across the region.
“We were therefore delighted to enter into a conversation with Andrew Wright & Co. Very early on in our discussions it was clear that we shared the same vision and values for the profession and for supporting our clients.
“We are really looking forward to working with Sally and Richard to grow the practice and to further establish it as a pre-eminent accountancy, business and tax advisory firm servicing the needs of businesses and individuals across West Yorkshire.
“The merger of Andrew Wright & Co follows on from a number of others with Streets over the last 18 months including practices in Colchester, Bristol and Banbury. This, along with the opening of new offices in Burnley, Lancashire and Lichfield in the West Midlands as well as continued organic growth, has enabled us to achieve revenue of £35m. Looking ahead, with a number of further mergers and acquisitions in the pipeline which include further practices across Yorkshire, we are on track to achieve our target revenue of £40m by the end of the year.
“In line with the firm’s growth plans, we have also made a number of key appointments, including that of Simon Jones as our Deputy Chair and Paul Birch as the firm’s first Chief Operating Officer. Both are highly experienced individuals with established track records for developing successful organisations.
“These new roles, along with existing ones including that of our Group Finance Officer Josh Woods and other members of the senior leadership team, will continue to play a key and pivotal role in realising our goals to become a truly UK practice – one that offers and delivers excellent client service, innovation and advice, as well as being a great place for our colleagues to work and pursue their careers.”
Streets Law, the firm’s dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on behalf of Streets for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in the tax and audit teams at Streets.
