Accounting firm signs deal with financier to support expansion plans

Wiltshire-based accountancy firm Charlton Baker has partnered with alternative financial services provider ThinCats to support the group’s ambitious expansion plans.

The partnership with ThinCats will strengthen Charlton Baker’s acquisition and growth strategy following a series of acquisitions in 2022.

Funding has been secured to support the initial acquisitions of A&N’s accounting services business, Innervision Accountancy Solutions, as well as a commitment to support future acquisitions from a growing number of entities across the South West region.

Established in 1984, Charlton Baker has been transforming the accounting profession for nearly 40 years, serving a diverse client base across the South West, offering a mix of accounting, auditing and business tax services; accounting and payroll; tax and business advice; personal tax; estates, wills and probate; and crypto-assets.

The company recently added ESG and sustainability consulting and reporting to the list of services it provides to clients.

Managing Director Scott Sartin, who joined the business in 1996, has led Charlton Baker’s growth. The business has expanded, initially opening a single office in Devizes, and then additional locations in Trowbridge and Bath. Melksham has recently opened, with a number of new locations to follow.

The last two years have been a period of transformation for the company, resulting in solid financial results, the opening of new offices and recognition as the best large small company of the year by FSB in the entire Southwest region.

These acquisitions will increase the group’s revenues, as well as provide access to talented people and additional services to support the combined client base. At the same time, Charlton Baker will expand its footprint and ultimately achieve growth through scale.

A&N, founded in 2006, is well known across Wiltshire, whilst Innervision is a highly reputable company based in Trowbridge which has enjoyed significant growth in recent years.

There are also acquisitions of successful Bristol-based businesses on the horizon, which will provide a platform for the development of the city and surrounding area.

Overseeing the integration of the new businesses is recently appointed Chief Operating Officer Victoria Greenard, who has a track record of successfully executing buy-and-build strategies.

Victoria said: “We are delighted to welcome these fantastic companies who will help us cement our position as a leading business in the region. There are clear synergies between our businesses and these great people not only bring new experience but also fit in with the culture we have built here at Charlton Baker.”

Charlton Baker acted as advisor to Josh Jolowicz and James Cotton of CTCF. The FDD for Thincats was undertaken by Martin Athey of Translink Corporate Finance, with legal support provided by Paddy Sturman of Irwin Mitchell. Legal support to the client was provided by Ben Slack of Clarion.

Scott Sartin said: “I am someone who loves to build and create things. With Thincats as our partner, I can now build and create something much bigger than I ever imagined.

“We are a firm whose mission is to always lead the world of accountancy and be the most uniquely brilliant professional services firm you can work for. This new financial partnership marks an exciting new chapter for us, introducing more experts into our culture and offering our services to even more amazing clients across the South West and beyond.”

Ben Kimball, Business Development Director at ThinCats, said: “I am delighted to be supporting Scott and the expert team at Charlton Baker. They have created a unique and compelling proposition that has all the ingredients needed to build on their huge success to date. This new partnership means they are well placed to capitalise on opportunities in a highly fragmented market. Our funding is ideal for supporting fast-growing businesses pursuing buy and build strategies like Charlton Baker, so we are excited to play our part in their exciting future plans.”