Save content
Have you found this content useful? Use the button above to save it to your profile.
AIA

Chantrey Vellacott merges with Target

by
23rd Jan 2012
Save content
Have you found this content useful? Use the button above to save it to your profile.

Top 20 accountancy firm Chantrey Vellacott DFK has announced the merger of its Thames Valley operation with the former Target office in Reading.

This follows the Bishop Fleming acquisition of Target’s Bath office after the firm went into administration in November. Target had called in administrators from PwC after admitting defeat to growing financial pressures.

Negotiations for Target’s Reading office have been underway since before Christmas once the management team bought back the Target office after going into administration.

The move means that Chantrey Vellacott DFK’s Reading office will double in size to more than 50 members of staff with a combined fee income of £5m.

Around 25 former Target staff will relocate to Chantrey Vellacott DFK’s Queens Road offices, while former Target directors Richard Frett and Mike McAllister will become partners of Chantrey Vellacott.

Mike Tovey, managing partner of Chantrey Vellacott DFK, said: “We have built a very successful business in the Thames Valley area and this move will allow us to further exploit opportunities in the region.

“The Target team had an attractive portfolio of clients which will increase our work in certain niche sectors while also bringing us some larger and exciting clients. Its special expertise in tax matters will also add to our offer in that area.

Richard Frett added: “Our various areas of expertise and experience dovetail perfectly and as well as offering more to our existing customer base will also hopefully allow us to mount a serious drive for new clients.”

Target Reading was formerly Ernest Francis and was founded in 1888.

Tags:

Replies (1)

Please login or register to join the discussion.

Mark Lee headshot 2023
By Mark Lee
23rd Jan 2012 16:12

Memories

I orginally trained at a predecessor firm of Chantrey Vellacott (Wood & Co) and spent 3 months on secondment to the Reading office in the early 1980s.

After Wood & Co merged with Wright King & Co, Mike Tovey became my audit manager - Look at him now!

Mark

Thanks (0)