Private equity-backed accountancy group bk plus has acquired Sephton Accountants, an independent practice in Marston Green, Solihull, its second deal in a week, a transaction that matters broadly because it deepens the group’s West Midlands network, and matters specifically to accountancy professionals because it shows consolidation being used to keep advisory work inside small practices rather than referring it elsewhere.

bk plus is a national accountancy group with more than 62 offices and over 1,000 employees, serving small and medium-sized enterprises and owner-managed businesses across the UK.

Sephton Accountants is a Solihull practice established in 2005 and led by partners Steve Connell and Darren Carter, providing audit, tax, bookkeeping, payroll and VAT services from its existing premises.

Steve Connell, partner at Sephton Accountants, said the firm will remain Sephton, and that joining bk plus lets it handle more of the tax, corporate structure and succession advice that growing clients need rather than referring it elsewhere. Shaun Knight, chief executive of bk plus, said the group was attracted by Sephton’s stable, experienced team, clear service model and steady growth, and described the West Midlands as an important market.

The referral point is the commercial core of the deal. A small practice that sends complex work elsewhere risks losing the client relationship as well as the fee. Over half of small business owners say their accountant is their first point of call for business advice, which makes capturing that work a defensible reason to join a larger group.

Succession is the sharpest example. Only 7 per cent of UK SMEs report succession planning fully integrated into their business strategy, and research cited by the Federation of Small Businesses puts the share with any formal exit strategy at 35 per cent, leaving a large pool of owner-managed clients who will eventually need structuring, valuation and tax advice.

The pace also stands out. Two completed acquisitions in a week suggests a repeatable integration model, with partners retained and premises unchanged, lowering the barrier for independent firms considering a sale.

For the sector, the deal shows that retaining partners and local identity while widening specialist capacity is becoming the standard offer to independent practices.

Source: Business Sale Report / MySimplyTax / ExitRadar