Sedulo Group has announced its intention to expand into Birmingham with the acquisition of R&D tax advisory firm, BTA Services.
The mid-tier advisory firm, which currently sits at number 70 in the Accountancy Top 100, currently operates in Manchester, London and Liverpool with 200 advisors.
It recently announced record annual results of almost £15 million revenue with a plan to double in size over the next three years, with new city centre regions being at the core of the strategy.
BTA Services is an R&D tax credit specialist firm in the Midlands area and has completed over 1,100 in R&D claims with in excess of £10 million of revenue across almost 400 clients. The company was founded in 2018 by Eric McClenaghan, who will stay on as an advisor to the business.
The acquisition allows Sedulo Group to build from this base and the firm is already recruiting consultants with financial planning and banking expertise, with more key hires to be announced imminently.
Sedulo has now begun its search for a more permanent home in the centre of Birmingham, which is set to include a leisure space, bar and a gymnasium, plus themed meeting rooms that sit in line with its company ethos; the latest addition a host of incredible office spaces across the UK.
On the acquisition, Sedulo founder Paul Cheetham-Karcz, said:
“We have been looking for an acquisition for a while that allows us to enter a new territory. BTA Services gives us a perfect foothold into the Birmingham area, and we are already on recruitment mission to add to the existing members.
“Over the past two years, we have substantially increased the sophistication of our R&D offering, with the recruitment of Josh Perry and Andy Nixon from top six firms leading the team.
“The landscape has become more difficult to navigate, but we have developed our offering. As a result, we are in a perfect position to acquire strong firms like BTA Services and add some additional expertise. We look forward to the next 12 months, which should see us edge towards £20 million in revenue.”
BTA Services founder, Eric McClenaghan, added:
“We are delighted that BTA has become part of the Sedulo family, where all our staff have fantastic career opportunities and can positively contribute to the breadth and depth of the R&D team at Sedulo. BTA clients will continue to be looked after by our familiar team and will now have a range of additional services available to them.”