Advice on External and Private Equity Investment

Home Services Regulatory Defending Accountants and Accountancy Firms Advice on External and Private Equity Investment

The appetite for external investment in accountancy and audit firms remains stronger than ever. Acquirers are driven by aspirations of consolidating a fragmented market, the offer of consistent revenue streams, as well as the substantial growth potential for accountancy firms.

Target firms are often excited about the prospects of investing in new infrastructure, geographical expansion, as well as succession planning. But for both the buy and sell sides, external investment does not come without a number of risks.

Our Tier-1 Regulatory team has extensive experience advising on private equity investment into professional services firms, particularly in the accountancy and audit sector. Having acted on both the buy and sell sides in respect of transactions for ICAEW and FRC-regulated firms in the UK, offshore and internationally, we possess a detailed understanding of the priorities and regulatory obligations of investors as well as target accountancy firms. This includes navigating the complex regulatory requirements regarding ownership and control, formulating appropriate corporate structures and governance documentation, as well as undertaking the requisite due diligence processes.

In advising on regulatory risk, we draw from our wider expertise of defending large accountancy firms and senior individuals in ICAEW and FRC investigations and enforcement proceedings. In such transactions, we also work closely with our Corporate team to ensure that the deal is managed seamlessly from start to finish.

Recent work

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Case 1

Advising a private equity firm on potential investment into a large UK accountancy and professional services firm.

Case 2

Advising a private equity firm on investment into FRC and ICAEW-regulated accountancy firms based in the UAE and the Channel Islands.

Case 3

Representing a large UK accountancy firm in a potential acquisition by a private equity firm, including advising on all corporate, regulatory, employment and property aspects of the transaction.