Duncan & Toplis, a UK-based accounting and business advisory firm, has acquired Derby-based accountants Underwood Green.

Financial terms of the transaction remain undisclosed.

The deal forms part of the firm’s most significant period of growth to date, coinciding with its centenary celebrations.

The firm has offices spanning Lincolnshire, Leicestershire, Nottinghamshire, North London, and now Derbyshire.

Underwood Green will undergo a rebranding, with all staff, including directors Gary Underwood and Richard Green, continuing in their roles at their current location at Pride Park in Derby.

The acquisition marks Duncan & Toplis’ expansion into a new location, extending the group’s service offering to clients throughout the Midlands.

This comes shortly after the firm’s acquisition of North London-based ALG.

Duncan & Toplis CEO Damon Brain said: “This is a very exciting time for Duncan & Toplis, as it is the first time our group will have an office in Derbyshire.

“We’ve supported clients in Derby and Derbyshire for many years but, with the acquisition of Underwood Green, we’ll be welcoming a fantastic new team who are based in the city.

“Gary, Richard, and the Underwood Green team have a terrific reputation in the area and we’re two very like-minded businesses. I’m looking forward to welcoming all team members to Duncan & Toplis and providing them with great career opportunities, at the same time as taking great care of clients they love working with.”

The purchase of Underwood Green has obtained complete regulatory clearance, with the firm now actively engaged in acquisition talks with other businesses that share similar values.

Underwood Green co-founder and director Gary Underwood said: “Joining forces with Duncan & Toplis – one of the largest accounting and business advisers in the UK – is a great opportunity for us and our clients. Being a part of Duncan & Toplis, we’ll be able to offer a wider range of services and even greater support.”