Finance

Accountancy giant Azets acquires Yorkshire’s Garbutt & Elliott

Azets, a leading regional accountancy firm, has acquired one of Yorkshire’s largest independent operators as it takes a first foothold in the region,

Garbutt & Elliott, established in 1896, with offices in Leeds and York, has been bought out.

Employing more than 200 people, with 15 partners, the £12 million turnover business will now trade as Azets.

Read more:Peacock and Binnington adds North Yorkshire agricultural machinery dealer to the fold

It joins a network of 80 offices as part of the Top 10 UK accounting firm.

Chris Horne, chief executive of Azets, said: “I’d like to offer a warm welcome to Garbutt & Elliott as they join Azets at an exciting time in our growth. We’re delighted to create a presence in Yorkshire, adding to our office network in the North of England and across the UK. Garbutt & Elliott’s strong regional reputation and specialist expertise, combined with Azets’ local and international reach opens up a wealth of opportunities for our clients.

“We believe strongly in the local delivery of services, whilst giving businesses in Yorkshire the opportunity to benefit from our breadth, depth, and experience as an SME focused international accounting, tax, audit, advisory and business services group.

“Acquiring Garbutt & Elliott is a significant milestone on our journey to increase revenue by 50 per cent in the next five years. This acquisition demonstrates our commitment to building the Azets brand and footprint throughout the UK and Europe.”

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The two offices in Yorkshire are based at Park Place in Leeds and Monks Cross in York. Azets already has a strong presence across the North with eight offices in the North East and six in the North West.

Garbutt + Elliott is well known for its annual Food and Drink Awards, championing the very best of the entrepreneurs, manufacturers and producers behind the vibrant Yorkshire food and beverage community.

Russell Turner, managing partner at Garbutt & Elliott, said: “We’re incredibly proud of our heritage and motivated to deliver success throughout the next chapter as part of the Azets family. Having first established 125 years ago, we retain our position as one of the largest chartered accountancy firms in Yorkshire, boosted by joining a UK Top 10 firm with shared values and beliefs in providing a personal approach to supporting the needs of local and regional businesses.”

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