PRZOOM - /newswire/ -
Cambridge, Cambridgeshire, United Kingdom, 2011/12/12 - PEM Corporate Finance (PEMCF), the Cambridge-based independent corporate finance specialist, has announced its founder membership of Goldsmiths Corporate Finance (GCF).
This new nationwide group of firms is being launched to support independent accounting practices whose clients need corporate finance advice of a type that they do not themselves provide.
PEMCF has worked for the last year with Goldsmiths Practice Services (one of the UK’s leading practice sales and support firms), and London-based Hyde Corporate Finance to create the group. They have been joined by six other practices around the UK to give national coverage.
GCF is the only national group of professionally qualified corporate financiers dedicated to supporting accounting practices and their SME clients. It is made up of eight strong regional corporate finance firms around the country. As independents they understand the importance of the trust-based relationships local firms have with their clients, and can provide a genuine alternative to the possibly fraught process of introducing valued clients to corporate brokers or national firms.
GCF advise on all aspects of corporate finance transactions for SMEs: company sales and acquisitions; management buy-outs and buy-ins; finance raising; valuations; and strategic and succession planning. Smaller practitioners have the option of staying involved in the transaction or handing it all over to the corporate finance specialist, and will be paid a commission for introducing the assignment to GCF.
Lake Falconer, Partner at PEM Corporate Finance, which is the Goldsmiths member for the Eastern Counties, said: “We give smaller practitioners the comfort of working with a specialist corporate finance team without threatening the relationship between them and their clients. Many small firms offering accounting and tax compliance advice don’t offer corporate finance and related transaction tax services that their clients will need when they are thinking about buying another business, or have been approached to sell.”
He added,“We strive to work closely with firms and their clients and are non-competitive – the work that independent firms might lose if their clients have to go to national firms, or corporate brokers for corporate finance work, is retained”.
Co-founder of GCF, Ron Goldsmith said: “Coming from a background of supporting accountancy professionals up and down the country, I hear complaints from accountants about the service their clients have received from some of the larger players in the market. Our member firms are all qualified professionals and genuine specialists - we believe we can provide the high levels of service clients deserve. For the professional community, referring their clients to other expert accountants should give them comfort that their clients will be provided with excellent levels of advice.”
PEM Corporate Finance (‘PEMCF’) is part of Peters Elworthy & Moore a full service, award winning accounting and tax practice with 14 partners and over 130 staff also based in Cambridge.
PEMCF works primarily with owner managed businesses in East Anglia, the Home Counties and London, advising on all aspects of corporate finance transactions, from mergers and acquisitions (M&A) and company sales to management buy-outs (MBOs).
Goldsmiths Practice Services is well known within the accountancy market for its role arranging the merger and acquisition of accountancy practices.
The UK Corporate Finance Market
Goldsmiths Corporate Finance will target transactions up to £25M. Most corporate finance transactions in the UK, by number, fall in the £1M to £25M range. Delivery of advice to companies in this market is fragmented being provided by larger accounting firms, boutiques and brokerage companies. In many cases day to day accounting and tax advice is provided to such companies by small practices which have the role of “trusted adviser” but lack corporate finance capabilities.