North East accountancy company Leathers LLP has been snapped up by leading London based wealth management and professional services group Evelyn Partners.
Newcastle city centre based Leathers was launched in in 1990 by Michael Leather and has grown to become a well respected firm of chartered accountants and tax specialists.
The company is focused on advising high net worth individuals, families, business owners and corporates, with expertise in personal and business tax planning, succession planning, as well as property and business structuring. It offers a range of audit, accountancy, tax compliance and corporate finance services.
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In 2018 the firm expanded outside of its North East homeland, opening a base in Harrogate on the back of growing client numbers in the region. The company’s advisors were also seeing rising volumes of work coming from London, the Midlands and the South East.
The value of the deal has not been disclosed. New owner Evelyn Partners is a leading integrated wealth management and professional services group created following the merger of Tilney and Smith & Williamson in 2020, with £53bn assets under management. It has a network of offices across 26 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands.
Andrew Wilkes, chief professional services director of Evelyn Partners, said: “We are delighted to have acquired Leathers LLP. Michael Leather has built a highly respected firm with a great client base and one which is a very complementary fit with Evelyn Partners both in terms of expertise and culture.
“Strategically this acquisition will further develop our professional services presence in the North of England, supporting our ambition of being able to provide our range of professional services to private clients and businesses right across the UK. I look forward to welcoming Stuart Wright and Ryan Harrison to the partnership group where their expertise and experience will be a great asset to us in developing our professional services offering in the North of England.”
Michael Leather, senior partner and founder of Leathers LLP, said: “Forward planning, client service and development of the team have been at the forefront of our success but in a changing environment, it is time for the business to gear up, extend the resources available to clients and to further develop the client service offering.
"Identifying the best way to do this has been challenging, but Evelyn Partners’ clear commitment to developing the business and their range and depth of resource have been key to the decision we took.”
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