Addleshaw Goddard has advised Waterland Private Equity on its strategic partnership with fast growing accountants and business advisors Cooper Parry.
The partnership is intended to allow Cooper Parry to turbocharge disruption of the UK accountancy market and expand internationally, and is targeting five-fold growth in the next five years through a combination of organic growth and acquisitions.
Waterland specialises in enabling entrepreneurial businesses to expand in their home markets and across Europe though proactive buy-and-build strategies. Other professional services businesses recently backed by Waterland include Moore Belgium, the mid-market accountancy business, Horn & Company, Sideshow Group and IMC Group.
Cooper Parry’s award-winning teams support like-minded entrepreneurial businesses across the UK and overseas, covering the spectrum of Audit, Tax, R&D, Tech & High Growth, Outsourced Finance Services, Corporate Finance and Wealth Management. The 42 strong Partner Group at Cooper Parry will all remain with incentive plans established to further increase the size of the Partner Group over the course of the partnership with Waterland.
The partnership will bring substantial investment to accelerate the integration of value-enhancing technologies, enhance the market-leading client experience, and drive growth across new and existing capabilities and markets.
AG's team advising on the deal was led by Paul Medlicott, and Rachael Norris, supported by Dan Conway, Nina Goodman, Millie Johnson and Maral Nafar. Justine Delroy and Euan Mills supported on tax matters and Richard Oman, Catherine Killeen, Dani Baxter and Jennifer Reynolds on banking.
Paul Medlicott said: "This was a great deal to be involved in, an exciting combination which promises great things for both parties. Waterland is proactive private equity firm that knows this market very well and is very much aligned with Cooper Parry, so working with them to make the partnership a reality has been a pleasure and we look forward to supporting them as they progress their ambitions."