Lincolnshire-based top 40 professional service firm, Streets Chartered Accountants has established Streets Bush Limited.
The announcement follows the merger of the Exeter chartered accountancy firm of Bush & Co with the fast-growing multi regional practice, Streets Chartered Accountants. This latest merger, along with that of the Bristol practice of Streets Steele following a merger only 12 months ago, now sees Streets firmly establish a presence in the South West.
When asked about the merger Shane Cann, Managing Director of Streets Bush, said: “We are thrilled to announce our merger with Streets and are excited about the future for our team and our clients as we move forwards as part of the wider Streets team.
“Bush & Co was founded in 1955 and over the years has grown into one of the leading accountancy firms in Exeter thanks to our strong reputation and excellent client care and continuity.
“It was very important to us that we joined forces with a firm who shared our values and ethos with an underpinning focus on excellent client service.
“We chose Streets because they also provide a tailored and bespoke service covering all areas of expertise across a broad range of sectors and in addition, we wished to retain some independence and investment in the existing business, providing for the continued longevity of the practice for our clients and our team.
“Being part of a wider, thriving UK practice means that we can now offer a more diverse range of specialist services including specialist corporate and private client tax planning, banking and finance, grants, R&D tax reliefs, international advice and personal financial planning. It also improves career prospects and training for our team, as well our ability to attract quality staff.
“The merger will strengthen our position in Exeter and Devon and enhance our reputation as a pre-eminent accountancy and business advice provider benefiting from the support of a multi-office and multi-region firm.
“Now we are very much an integral part of the further growth of the Streets practice we are all working closely to explore further expansion of the firm across the South West, including Cornwall, Dorset, Gloucestershire, Somerset and Wiltshire, both organically and through other merger opportunities.”
Looking at what the merger means to Streets, the firm’s Managing Partner, Paul Tutin, said: “We are especially pleased to have Shane Cann, his fellow directors and all the team in Exeter join the practice.
“We have wanted for some time to have a meaningful presence in the South West. In Streets Bush we have not only realised this but also our wider ambition to be amongst the region’s leading professional service firms looking after and supporting the needs of businesses, large and small, as well as private individuals.
“This latest merger, along with others over recent months, now means we have surpassed our target revenue of £40m for the year, a position we are delighted to be able to report and which reflects the success of our growth strategy and all the hard work by the team involved in our merger and acquisition activity.
“The profession is going through significant consolidation with heightened levels of merger and acquisition. In contrast to many, our approach seeks to build on the success of merging firms, ensuring we retain and build on their winning approach – an approach we believe is particularly liked by many of those looking to exit routes, the challenge of growing their practice or facing increased competition and the need to widen their service offering.”
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.
