An independent accountancy in Cheltenham has been acquired by another Gloucestershire-based group for an undisclosed sum.
Paish Tooth, which has been based in the town since 1983, has been purchased by chartered accountants Griffiths Marshall Advisory Group, which has offices in Gloucester and Lydney.
The deal will see Paish Tooth initially operate as a stand-alone subsidiary of Griffiths Marshall, maintaining its existing branding and its office on Rodney Road. All 12 of its staff will be retained.
As part of the agreement Ian Price and Greg Lewis, two of Griffiths Marshall’s five directors, have become directors of Paish Tooth.
John Tooth, who has been director of Paish Tooth for more than 30 years, will remain in post and will continue to work for the business on a part-time basis.
Mr Tooth said: “Over the years Paish Tooth has successfully built on its proud reputation to offer valuable accountancy support and tax planning advice which matches our clients’ specific needs.
“I am confident that under Griffiths Marshall’s ownership this exciting journey will continue, to the benefit of both our clients and employees.”
Paul Cox, who has been with Paish Tooth since 2007, will also remain in the business and become a director.
Griffiths Marshall’s provides assurance, advisory and tax, probate and wealth management services for a wide range of clients from sole traders to multi-million pound groups.
Ian Price, managing partner of Griffiths Marshall, described the acquisition as a “very exciting moment” for the business.
Mr Price said: “I believe this acquisition will help us to support local businesses and individuals to an even greater degree than before. Having John on board, with his outstanding tax knowledge, will also bring additional value to the Griffiths Marshall Group.”
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