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Accountancy deals on the menu again
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BCAMS embarks on small practice acquisition spree

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Move over Azets and Xeinadin, there’s a new consolidator on the prowl for accountancy and bookkeeping firms looking to sell up.

13th Dec 2021
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High Wycombe-based BCAMS (Business Coaching & Mentoring Services) is owned and operated by Ros and Paul Hodgson. Accountant Ros is a QuickBooks ProAdviser and a regular on the accounting software live circuit.

Paul, meanwhile, has been acting as UK representative for the Australia-based MyBusiness Manager reporting application, which he also uses in his consultancy work as a business adviser.

More recently, Paul Hodgson founded business acquisitions house Investor in SME's and is now turning his attention to accounting and bookkeeping firms.

Firms struggling with Covid and MTD

The ideal targets for accountancy’s latest consolidator are “underperforming” practices with annual fees of £250,000-£500,000 practices, he told AccountingWEB.

“A number of bookkeepers and accountants are getting fed up and MTD is a bridge too far for them. They and their clients might have been adversely affected by Covid and are struggling financially. Or there are firms where they don’t have a succession plan in place,” he said.

Hodgson has already started negotiations with two firms that fit this profile and expects to complete transactions in the next few months. But he is on the lookout for more.

Digital accounting plans

The acquistions will be brought into BCAMS, where the business model will be based on digitising the firms’ accounting processes using cloud systems and supporting them and their clients through the transition to Making Tax Digital.

“Some firms are uncomfortable with the range of accounting apps available. We will be able to help them with evaluations and implementing them with clients,” Hodgson said.

“BCAMS will be the holding company, but we won’t be looking to build it into a marquee name. We’re not really that well known yet,” he said.

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By Hugo Fair
13th Dec 2021 17:30

"Move over Azets ..."? This lot haven't even completed one acquisition yet (according to the article), so why the red carpet treatment?

The topic's interesting, but surely there are other more active & well funded groups looking to grow on the back of MTD (and an aging Agent cadre demographic)?

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