A Welsh accountancy firm founded over 70 years ago has been bought by a national group. Graham Paul has been bought by multi-disciplinary business advisory and accountancy firm Xeinadin Group for an undisclosed sum.
Established in 1947, Graham Paul has offices in Bridgend and Cardiff and employs over 30 people. It services clients in the agricultural, healthcare and legal sector as well as family-owned businesses and SMEs.
The firm will continue as an independent accountancy practice following the buyout, but said being part of a national group means it is now able to offer a broader range of services as well as offer its staff increased opportunity for personal development.
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Xeinadin is a group of business advisory and accountancy practices in over 100 locations across the UK and Ireland that provides over 40 service lines to over 50,000 clients, predominantly small and medium sized businesses and their owner-managers. It was formed through a merger of the offices in 2019 and is now structured into 12 regional hubs.
The fast-growing firm now has annual revenues of over £100m with a 1,600-plus workforce. The business has ambitious growth plans having made several acquisitions this year following a significant minority investment from private equity firm Exponent in May as part of a strategic partnership.
The group said that the acquisition of the Welsh accountancy firm will strengthen its healthcare offering as well as boost access to experts in Wales, with a full suite of services including audit, assurance, tax, and planning.
Xeinadin chief executive Derry Crowley said: "We are pleased to announce that Graham Paul is joining the Xeinadin Group. It will provide additional expertise in some of our key sectors such as healthcare and family-owned businesses and we are looking forward to integrating them into the Xeinadin family.”
Graham Paul director Nigel Williams said: "Through joining the Xeinadin Group, Graham Paul will continue to deliver the high standard of professional service for which we have become known. Being part of a dynamic larger organisation will allow us to support our clients even better with more services and greater expertise, and also embrace new opportunities for the firm. We are looking forward to our future as part of Xeinadin."
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