Montpelier makes a capital expansion

AN accountancy firm with offices in Leeds and Sheffield has expanded with the acquisition of a London-based rival.

Montpelier Chartered Accountants bought a majority stake in Auerbach Hope Chartered Accountants.

Montpelier said the purchase, for an undisclosed sum, is part of its strategy to expand in the south.

The enlarged company will become a top 35 accountancy firm with 220 employees.

"This gives Montpelier a valuable platform in London from which we can build our operations across the south organically and through further acquisitions.

"While the past year has been challenging for the mid-market accountancy industry, we are confident that our strategy for expansion in key sectors and regions will enable Montpelier to buck this trend and grow profitably in 2010 and beyond."

Established in 1950, Auerbach advises small to large firms in the property and construction, retail, leisure and hospitality sectors.

It also represents wealthy individuals in the fashion and entertainment industries.

Following the purchase, Auerbach will trade as AH Montpelier. Partners in Auerbach will retain an interest in its London operation and will continue to work with its clients.

Irvin Fishman, partner at Auerbach, said: "The culture of Montpelier is very similar to that of our own with a strong emphasis on providing cost-effective solutions while maintaining the highest standards of client care.

"We are excited to be joining such an ambitious group as it continues to expand both its geographic spread and depth of expertise, which will be enormously beneficial to clients of the enlarged group."

Manchester-based Montpelier was formed in 2005 and is part of the Montpelier Group, a global wealth manager and advisory firm with 52 offices in 14 countries.

Montpelier was advised by corporate law firm Mace & Jones. Muscatt Walker Hayim advised Auerbach.