• Register
Return to: Home > News > Consolidation continues in UK's lower mid-tier market

Consolidation continues in UK's lower mid-tier market

The UK lower mid-tier market continues to consolidate and grow due to increasing international referral work and M&A activity, according to CharterGroup chief executive Gary Corbett.

Corbett confirmed consolidation has increased over the past four years right throughout the mid-tier and lower mid-tier.



“Our growth is bolstered by quite a high degree of merger activity, so you could say that we outperform the market by between 5 and 10 percent on organic growth. But that can be swung dramatically by acquisition of some of our larger firms that have doubled in size in the last three years,” he said.

CharterGroup is an alliance of 55 independent mid-tier chartered accounting firms that recently formed a national cross-disciplinary partnership with LawNet, an association of independent law firms. CharterGroup’s firms range in size from £2 million to £11 million ($3.5 million to $19.39 million) in fee income with the alliance generating £166 million in total.

The new national partnership with LawNet is designed to increase referrals between the two groups and drive the combined revenue of both groups past £400 million.

Apart from standard accounting work, the group’s members provide tax planning, M&A, corporate finance and corporate recovery services.

Corbett said there has recently been a noticeable rise in the number of requests for international work within his UK alliance and from other international accounting associations.

Top Content

    Nigeria: building compliance and engagement

    Opportunities created by regulatory and legislative changes in Nigeria are tempered by the fragile state of the economy, although practitioners are generally confident that conditions will improve over the next few years if appropriate steps are taken. Paul Golden reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.