UK and Ireland law firm Browne Jacobson has acted for Broadfield Capital, a London-based independent private equity house, on its platform investment in Charlton Baker, a leading provider of accountancy services in the UK.
Charlton Baker provides accountancy and reserved legal services across the South-West of England. The business offers a range of services including accounts preparation and audit, bookkeeping and payroll, tax services, and advisory and legal services.
Broadfield Capital's investment will support Charlton Baker's continued buy-and-build strategy as the group seeks to consolidate the South-West accountancy market. As part of the broader transaction, Charlton Baker completed three bolt-on acquisitions, bringing the total number of local accounting firms acquired by the business to date to 17.
The deal reflects Browne Jacobson's strength in advising on professional services transactions, with the firm recently ranking in the top ten firms for deal count in the latest Mergermarket rankings in the UK. The full-service team combined its expertise in professional services M&A with experience in navigating complex investment structures, bolt-on acquisition processes and the accounting regulatory framework.
The Browne Jacobson team advising on the transaction was led by Partner Ryan Brown, Senior Associate Daniel Knowles and associate Dominic Lees with support from Craig Thomas (tax), Tim Williams (employment) and Adam Culy and Ed Anderson (regulatory).
Ryan said: "The transaction shows the continuing confidence in the UK professional services sector and in the buy-and-build model more generally. Our team understands the regulatory landscape affecting accountancy and legal service platforms, the sensitivities involved and what it takes to get complex, multi-workstream transactions over the line."
Recent deals include advising Clearway Drainage Systems Limited on the sale of their company to Kanalservice Gruppe, a leading European provider of critical infrastructure maintenance services, and Camfaud Group on its strategic acquisition of Templant Hire.
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Felicity Spencer-Smith
PR & Communications Manager
felicity.spencer-smith@brownejacobson.com
+44 (0)3300451376