Scott-Moncrieff joins Baldwins to become part of the Cogital Group
Scott-Moncrieff, Scotland’s longest established accountancy firm, is to join one of the UK’s leading business advisory groups Baldwins to become part of the fast-growing CogitalGroup.
In October 2017, Campbell Dallas and Springfords became the first Scottish firms to join Baldwins followed by Ayr-based Sinclair Scott in May 2018.
Baldwins, a Cogital Group company, now has 88 offices throughout the UK as part of its national strategic expansion plan, employing 2,700 staff with an annual turnover of approximately £200m.
This latest deal underlines Baldwins’ further investment in Scotland since all 16 Scott-Moncrieff partners and 220 staff will join Campbell Dallas, creating one of Scotland’s largest accountancy and business services firms. The joint business will employ 45 Partners and over 500 staff in Scotland, operate from 11 offices from Inverness to Ayr, and have a combined fee income approaching £40m per annum. The deal will take effect from 3 May.
After Baldwins’ deal with Campbell Dallas, plans were announced to drive growth in Scotland through a combination of acquisitions and organic expansion.
Stewart MacDonald, Managing Partner at Scott-Moncrieff, said: “Joining Baldwins and the CogitalGroup presents an exciting opportunity for our clients and our people. CogitalGroup leads the industry in using technology to deliver cutting-edge services to clients, with the ability to adapt quickly to changing client needs.
“Together, Scott-Moncrieff and Campbell Dallas will be able to provide Scottish businesses access to a wider range of additional services and to more efficient ways of working.”
Scott-Moncrieff provides a broad range of audit, accountancy and business advisory services to SMEs, public sector organisations, charities, entrepreneurs and private individuals. The firm’s sectoral strengths lie in financial services, technology, manufacturing and the public sector. The expanded business will provide the full portfolio of accountancy and advisory services together with an extensive expertise in industry sectors ranging from brewing and distilling to farming, education, professional partnerships, dental and medical practices.
Shaun Knight, Board Director at Baldwins, who has responsibility for Scotland, added that this is a pivotal deal for the wider business and for Scotland’s accountancy sector.
He said: “The addition of Scott-Moncrieff will provide the UK business with access to one of Scotland’s strongest public and third sector firms as well as expanding the geographical footprint in the North and East of Scotland.
“The combined business will have the largest VAT team in Scotland and adds specialist services in areas such as IT strategy and cyber security. Staff will also have access to more rewarding and varied career opportunities. We welcome our new colleagues and look forward to working together as we continue to build a progressive and disruptive business in the fast-changing accountancy market.”