Cooper Parry acquires Hutcheon Mearns in UK expansion
DERBYSHIRE, ENGLAND, and ABERDEEN, SCOTLAND — Cooper Parry, a next-generation United Kingdom professional services group, has accelerated its growth strategy by acquiring Hutcheon Mearns.
This marks Cooper Parry’s sixth acquisition since securing private equity backing from Lee Equity Partners earlier this year, significantly expanding its footprint in Scotland and pushing its pro forma turnover beyond £250 million (US$290 million).
Shared vision fuels professional services growth
Cooper Parry has established its brand as rebellious in the UK mid-market, offering a complete blend of services to entrepreneurial businesses, including audit and tax, as well as digital advice.
This growth curve is fueled by a unique, people-first culture that has enabled the company to make 16 strategic acquisitions within the last 23 months to create a next-generation professional services group.
Such a strategic expansion drive is directly related to the Hutcheon-Mearns model. In 2015, Hutcheon Mearns was founded to transform the traditional business finance market by integrating finance recruitment, corporate finance, and technology solutions.
It is a people-focused model that has proven to be a game-changer, delivering extremely strong client and staff retention rates and a highly scalable service proposition ready to grow.
Cultural alignment anchors the merger
The acquisition is also primarily fuelled by a common disruptive culture that threatens the status quo of the traditional accounting market. The two companies have developed their identities based on a people-first approach, which has been the foundation of their strategic alignment.
This common spirit was a decisive element of the deal, which established an immediate cultural bond that the executives of both companies emphasized as the key to the merger’s success.
“Right from our initial chat with Ade and his team, it was clear that there was an instant connection in culture, spirit, and values,” said Craig Hutcheon, Co-founder and Managing Director of Hutcheon Mearns.
“We’re both people-first, fearless and ‘go all in’ businesses. And we’re excited to move into the next stage of our journey together, aligned to challenge the norms of the traditional accounting sector.”
This people-centric model is the core of the services offered by the combined entity. Hutcheon Mearns’ expertise in helping companies build finance teams, solve complex problems, and deliver growth strategies, augmented by technology and artificial intelligence, complements Cooper Parry’s vision.
The union is described not just as a business combination but as a “movement” to roll out this differentiated service model across the UK and Ireland, directly challenging established players in the professional services market.
Private equity powers UK expansion
The acquisition forms part of Cooper Parry‘s ambitious financial goals, which will push its turnover to over a quarter of a billion pounds as it meets the 2028 and 2030 targets of £600 (US$696 million) and £1 billion (US$1.2 billion), respectively.
It is a geographically oriented strategic expansion, and one of the growth markets is Scotland. The merger will also make Cooper Parry a serious player in the Scottish market, as Hutcheon Mearns employs more than 70 people, giving Cooper Parry an almost 100-employee presence in the area.
The relocation is also part of a larger initiative for the area, which includes new brand awareness and events, and it is planned and funded to take market share and strengthen service lines in the UK.
As Ade Cheatham, Chief Executive Officer (CEO) of Cooper Parry, concludes, “Our vision is all about new capabilities, new tech and new markets. What Craig and Adam have built creates an awesome people-first footprint for us to roll out UK-wide. Together, we’re not just building a firm, we’re building a movement.”
