Skip to main content

CogitalGroup buys Wilkins Kennedy: John Connolly’s CogitalGroup has continued its aggressive acquisition spree with its biggest purchase to date, top-20 firm Wilkins Kennedy



The UK’s 18th biggest accountancy firm will join Baldwins, which is part of CogitalGroup.
Wilkins Kennedy has more than 700 employees and partners, turnover in excess of £54m, and 18 offices across London and the South East.
Connolly, the former chief executive of Deloitte, announced in 2016 he was creating a new advisory firm. In October that year, the firm merged with Midlands-based Baldwins Accountants, bringing its revenue to £300m.
Following the acquisition of Wilkins Kennedy, Cogital now has revenues of £500m, with 50% in the UK and 50% in the Nordic countries.
It now serves 70,000 clients and employs 6,000 people across 170 offices, including in the UK, Norway, Sweden, Denmark and Finland. It also has technology and support centres in Romania and Lithuania.
Cogital said that William Payne, senior partner at Wilkins Kennedy, will become a managing director in the South region, and will join the board of Baldwin Holdings.
Baldwin’s South arm will operate as Wilkins Kennedy from now on.
Payne said, “We are delighted to be joining the CogitalGroup at this key milestone in their growth story and to be representing the business across the South of England. We have a shared vision for the quality of service we can offer our clients, across both accounting and broader business services.”
Connolly welcomed the Wilkins Kennedy staff adding that, “This development represents a further significant step forward for CogitalGroup as we complete the first year of our five year plan to build a leading, technology driven, international business services group.
“Wilkins Kennedy is a highly regarded firm with a strong position in the entrepreneurial and private company market, which is the significant market segment where we focus.“
Last week, Cogital announced that its London division Blick Rothenberg had bought private tax client practice Westleton Drake.
The firm specialises on advising high net worth US families, executives and entrepreneurial business.
Connolly’s firm has been investing in several acquisitions since its inception. In March, it added tax advisory business Rawlinsons to its Baldwins business, taking the total number of offices for Baldwins in the UK to 63.
Labels:

Comments

Post a Comment

Popular posts from this blog

List of IFRIC Interpretations

The IFRS Foundation provides free access (through Basic registration) to the PDF files of the current year's IFRIC ®  Interpretations (Part A of the Issued Standards—the Red Book), as well as available translations of Interpretations. This section also provides high level and non-technical summaries for the Interpretations.  The full Standards with all accompanying documents are available for  Premium subscribers on eIFRS . For more information about what is provided for free and why, visit our unaccompanied Standards FAQ page . Interpretation name IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments IFRIC 4 Determining whether an Arrangement Contains a Lease IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds IFRIC 6 Liabilities arising from Participating in a S...
Post a Comment
Explore more »

List of IFRS Standards

The IFRS Foundation provides free access (through Basic registration) to the PDF files of the current year's consolidated IFRS ®  Standards (Part A of the Issued Standards—the Red Book), the  Conceptual Framework for Financial Reporting  and IFRS Practice Statements, as well as available translations of Standards. This section also provides high-level and non-technical summaries for the Standards. The full Standards with all accompanying documents are available for  Premium subscribers on eIFRS . For more information about what is provided for free and why, visit our  unaccompanied Standards FAQ page . Standard name Conceptual Framework for Financial Reporting IFRS 1 First-time Adoption of International Financial Reporting Standards IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 6 Exploration for an...
Post a Comment
Explore more »

IFRS FOUNDATION PUBLISHES CASE STUDY REPORT: BETTER COMMUNICATION—MAKING DISCLOSURES MORE MEANINGFUL

The IFRS ®  Foundation has published a case study report showing how companies from different parts of the world have improved communication in their IFRS financial statements.  Better Communication in Financial Reporting—Making disclosures more meaningful  contains six case studies from varied industries. Its aim is to illustrate how improvements can be made and inspire other companies to initiate their own improvement projects. The report explains the process these companies have gone through to improve disclosures in the notes to their IFRS financial statements and shows examples of the improvements made. By identifying what information is relevant, prioritising it appropriately and presenting it in a clear and simple manner, they have made their financial statements easier for investors to read and understand. Through the use of examples, the report shows that relatively small changes can significantly improve the quality of the financial information that compa...
Post a Comment
Explore more »