James Gosling
Director, Mergers & Acquisitions
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M&A activity within the Accountancy practice sector has reached new levels this year. Many practitioners or practice owners are more open to discussions for sale or merger than ever before. Why?๐ Increased compliance and regulatory admin๐คฆโ๏ธ Competitive talent marketโฌ Increased costs across all areas of the business๐จ๐ป Adoption and increased influence of tech and AI๐ค Succession IssuesI speak with Partners/Directors from sole practitioners to Top 30/Top 20 firms- all share similar pain points and wish to achieve similar aims from any transaction. What?โ Better work life balance, share or lose some of the 'heavy lifting' of running a practice so they can concentrate on their clients and team. The bits accountants want to do!๐ฐ De-risk or realise value in the business they have built๐คผ Be part of a firm with greater resource and infrastructureโ Avoid being left behind by competitors through tech/AI development, talent and growth๐ Secure the future of the business for their staff and clientsEnsuring you are speaking with the right party is paramount for post completion success and happiness. Pointers from me in recent times that you should be aware of if looking to sell your practice;1๏ธโฃ Ensure that you get along with the acquirers on a personal level. You will have to work with them for a period of time! 2๏ธโฃ Be comfortable that culturally the other party are similar, or heading in a direction you wish to follow. Important for your staff, yourself and clients.3๏ธโฃ Make sure that your key drivers, or reasons for wishing to explore an opportunity are answered or covered off. You can easily get distracted or led down a different path in such discussions and lose sight of the really important day to day pain points you wished to be addressed.4๏ธโฃ Try and speak to other firms they have acquired or merged with, to get a real time feel of the process and what life is like post transaction5๏ธโฃ Do not just be blinded by the highest bidder for your firm, ensure they are the right fit. There is no point accepting the largest sum, if you do not realise that sum due to clawbacks on the deferred element- because you did not concentrate on the people and culture fit! If the right fit is the highest bidder as well- perfect ๐ #MergersandAcquisitions #Accountancy #Partner #SaleorMerger
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๐๏ธ Darryl Bates-Brownsword
Get your business โexit readyโ now so that it will be sellable when you're ready to exit.
4h
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good points James.It makes sense to always be ready - you don't want that offer that comes out of the blue to fall over because your business is seen as too risky
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James Gosling
Director, Mergers & Acquisitions
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As we get closer to election day, the various debates and accompanying commentary is throwing up the real possibility of a Labour government scrapping BADR (Business Asset Disposal Relief) if/when they come to power.In addition to the above, as I advised a few weeks back there are some fears of an increase in the current Capital Gains Tax (CGT) rate as well ๐ฑ This will have a very significant monetary impact on any business owners looking at exit. I have spoken with many business owners who are looking to expedite their exit plans to avoid an possibly increases in tax at disposal! This line of dialogue is a common theme which is picking up pace weekly at the moment....If sale or exit has been on your mind, we would be delighted to have a confidential discussion to talk through your options and how we can work alongside you. AJ Chambers ยฎ#MergersandAcquisitions #SaleorExit #Election #BADR #CGT #Labour
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James Gosling
Director, Mergers & Acquisitions
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Congratulations to the second wave of names for 2024's '35 Under 35' winners, in partnership with Accountancy Age ๐ Luke Quince, AzetsJames Kennedy, CowgillsTess Alexander, GravitaFred Norman, Harold Sharp LimitedGeorge Suthon, KPMG UKGraham Gardner, Kreston ReevesIsla MacGillivray, SafferyJonathon Dickens, SMH GroupTom Bradbury, Wilson Partners LimitedDominick Knight, Ensors Chartered Accountants35 Under 35 is a prestigious recognition of those challenging the status quo within the UK accounting industry - pushing for innovation and change. ๐ Read more about the winners here: https://lnkd.in/eFCiARdS #35under35 #AccountingLeaders #AccountingInfluencers #UKAccounting
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James Gosling
Director, Mergers & Acquisitions
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First Xerocon done! What a stand out event...Xero really have a fantastic ability to create a community feel, and 'safe' environment where people are that much more open, transparent and keen to share their wins, losses and thoughts on certain subjects. I have felt it time and time again over the last 12 months at Xero Partner Success days and again at Xerocon this week. It is like you enter a 'Xero space' and everyone's natural shields or barriers are disarmed. It genuinely is amazing to see and be part of...Like anything however, a good community feel can only be possible by those in the community- and I caught up with a top bunch of people!!Was brilliant to be on stage yesterday talking about the M&A landscape currently, the dynamics at play and how PE is playing it's role in the height of activity we are currently witnessing. Tom Strange you led the discussion superbly! Thank you Xero for having me, and a really special thank you to Diane Holden ๐ ๐ธ credit Andrew H. & Nikki Adams #Xerocon #Xero #Accountancy #MergersandAcquisitions
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James Gosling
Director, Mergers & Acquisitions
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Wow, Xerocon day 1 lived up to the expectation everyone had set ๐ฅ The infamous Xero party was unreal. Found myself looking round and thinking; business conference??!? ๐คท๐ผโ๏ธ(Diane Holden, thank you for making sure I had my wristband! ๐๐ป)Looking forward to today, catching up with people and making new connections as well. Iโll be on stage at 1pm with Tom Strange, Caroline Plumb OBE and Fraser Campbell discussing PE and the current M&A activity in the marketโฆ#Xerocon24 #MergersandAcquisitons #PrivateEquity
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James Gosling
Director, Mergers & Acquisitions
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Landed at Xerocon! ๐๐ผ
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James Gosling
Director, Mergers & Acquisitions
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Time really is flying, the end of this month will signal the first quarter of launch ๐ Pieter van Rooyen and I have had so many brilliant, interesting, productive, positive and collaborative discussions with business owners and other individuals in the 'M&A ecosystem'. Leading to some great engagements with clients...Thank you to all those we have spoken with already, we look forward to continuing to build on those connections and form new relationships as we continue on ๐ค We strongly wish to work collegiately with the wider mergers and acquisitions ecosystem, adding value for the greater benefit of all involved on any given transaction; not least our clients! exists solely to guide and advise entrepreneurs, and owner-managers on their business journey. We will work collaboratively with you to achieve your growth, sale or exit objectives.With that said- we would love to hear from you, if; โ You are a business owner considering sale or exit โ You are a business owner looking to grow via acquisition โ You are a business owner simply wishing to understand potential options available to you โ If you an Accountancy Practice, with no M&A or Corporate Finance offering; and would love to partner with us to add value to your clients โ If you are a Corporate Finance division or boutique. We would love to collaborate and partner with you- our different offerings will dovetail perfectly, making hopefully for more smoother transactions for us and our clients. โ My banking connections, it would be brilliant to speak on how we can work together for the benefit of your clients. โ Corporate & Commercial Lawyers โ An advisor to business owners (financially, coaching, mentor etc) Link to our website below ๐ https://ma-chambers.com/ We look forward to working with you ๐ #MergersandAcquisitions #OwnYourTomorrow
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James Gosling
Director, Mergers & Acquisitions
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AJ Chambers ยฎ are uniquely placed within the UK and Ireland market to assist Accountancy and Legal Practice owners with their business plans.๐ We assist Practice owners looking to secure the right opportunity for their overall exit strategy.๐คผ We assist Practice owners that maybe wish to become part of a larger infrastructure, or a environment where there is more resource and support. Removing a lot of the heavy lifting and strain of running a practice- often owners become re-energised due to this as they can focus on the things they love to do! ๐ We assist ambitious leadership teams to onboard investment, find the right 'growth partner' (Private Equity, Investment Vehicles, Family Offices and Large Networks) assisting you achieve future aspirations, and to go on the journey with you.Weare a trusted adviser to our clients, with a history of adding value on many components of M&A transactions. Our aim is to ensure correct process is followed at all times in a professional and reliable manner, to reach the objectives and desires set out by our clients.Please see link below for a brief overview of our services;https://lnkd.in/e2kBW5zj#MergersandAcquisitions #Accountants #Lawyers #Partner #BusinessPlans #TrustedAdvisor
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James Gosling
Director, Mergers & Acquisitions
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Conference season has been in full swing over the last couple of months; as I walk around the conferences I have seen this face on so many staff of vendors manning their stands or stalls....Sure there are a lot of my network who this will resonate with ๐ #FridayFunny #ConferenceSeason
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James Gosling
Director, Mergers & Acquisitions
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Just one week away now- Xerocon ๐ I will be on stage on day two at 1pm, as part of a panel discussing all things mergers & acquisitions, and the impact of private equity within the accounting industry.Our conversation will be guided by Tom Strange. Not to be missed!This will be my first ever Xerocon, I cannot wait ๐ #Xerocon #MergersandAcquisitions #PrivateEquity #Accountancy
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