Irish accountancy firm Smith & Williamson has announced its merger with Dublin-based firm LHM Casey McGrath, creating a total workforce of 135 people based in its two Republic of Ireland offices.
The merger positions Smith & Williamson in the top tier of accountancy and financial services businesses in Ireland. It also achieves a key strategic objective for the Group of accelerating growth in the Irish market. The deal will increase turnover to over €15 million (£13.5 million) per year in Ireland and total group operating income to £269 million (€300 million).
Smith & Williamson Co-Chief Executive, Kevin Stopps, said: “This merger underlines our commitment and scale in Ireland, where we combine a top 10 accountancy firm with a leading independent wealth management operation. The deal fully supports our long-term strategic growth ambitions and also strengthens our presence in an important EU territory in advance of Brexit to ensure that we are well-placed to service our clients.”
Managing Partner for Smith & Williamson’s Professional Services Team in Dublin, Paul Wyse, said: “Today’s announcement is the culmination of many months of engagement with a firm that shares our vision and values in providing the highest quality professional services to clients. The team at LHM Casey McGrath is an excellent fit with our strategy in order to enable growth, improve our service offering and meet the needs of clients through a diverse range of professional services.”Our clients will have access to a fully comprehensive and integrated range of business services and a larger team of specialist advisers. Clients will also continue to receive the very highest standards of client service and advice.”
Welcoming the news, Damien Kealy, Managing Partner of LHM Casey McGrath, said: “While we are very proud of the history of our firm and the achievements of our people, we also recognise the significant benefits that the wider range of accountancy and investment management services which Smith & Williamson can provide to our clients and their businesses. This is an exciting opportunity for our people, our clients and our firm and one that allows us to continue to achieve our growth ambitions and those of our clients.”