Management at East Midlands accountancy firm Cooper Parry say they are heading towards their short-term target of £250 million revenues following a double acquisition.
The Castle Donington firm has completed the deals in the “Tech & High Growth” (THG) sector buying ihorizon – an early stage accounting player for tech startups – and Acclivity, a boutique advisory firm specialising in accountancy, tax and consultancy for entrepreneurs and high growth early stage businesses.
The additional 40-plus staff have become part of the firm’s dedicated THG team which has grown from a standing start to more than 100 people in just two years.
The number of staff across all of Cooper Parry’s UK locations now stands at more than 535.
Chief executive Ade Cheatham said they were on course to hit a turnover of £250 million in 2025, with revenues currently rising at a rate of 33 per cent a year.
He said: “These two deals reinforce our determination to disrupt the Mid-tier like no other.
“We’ve been bold with our ambitious growth plans and these two high quality firms give us an amazing start to the year. The culture and talent within the firms are a great fit for CP.
“They also add a brilliant new dynamic to our fast-growing presence in the THG space.”
Steve Leith, head of Tech & High growth at Cooper Parry, said: “Bringing ihorizon and Acclivity into CP means our specialist team can now deliver a full life-cycle solution from startup through scaleup and into exit.
“There’s no other equivalent team in the Mid-tier or the Big 4 operating at this scale and so deeply inside the high-growth ecosystem.
“Startups will be able to make the seamless transition from a specialist digital-first solution into full service scaleup support specifically designed for venture stage companies.”
Pratik Sampat, the chief executive of ihorizon, said: “Everything felt right about joining Cooper Parry.
“The CP team is already well established in the market supporting scaleups and we have a shared vision to create the go-to team for founders and CFOs of high potential and high growth companies.
“This coming together is great news for our team and our clients.”
Acclivity founder Asif Ahmed, who is now head of Early Stage, Cooper Parry Tech & High Growth, said: “Given the number of clients we’ve seen transition from Acclivity’s early stage portfolio into CP’s specialist scale-up team, it was a no-brainer to join forces to create a market-leading proposition.
“It means early stage companies don’t have to change relationships as they scale and as their finance challenges become more complex. It’s a win, win.”
Cooper Parry is based out of its “Sky View” hub next to East Midlands Airport – included in the Daily Telegraph’s list of the UK’s Top 10 coolest offices – and has offices in Shoreditch and Birmingham.
