Date Published: 24th November 2020
Established West Wales based accountancy firm, LHP Chartered Accountants is now operating in Tenby, after acquiring the business of The Alexander Partnership (Accountants) Limited, which ran into difficulties following the recent insolvencies of entities in the Juno Moneta Group.
Business recovery specialists at Begbies Traynor completed the pre-packaged sale via administration, which sees LHP take over the business, including the premises and clients, while most importantly securing 11 jobs. With a long tradition of specialising in tourism, hospitality, agriculture and the construction sectors, LHP has seen its client base grow significantly across west Wales in recent years, especially in light of the Making Tax Digital changes.
With offices in Carmarthen, Haverfordwest and Lampeter, LHP has seen a big increase in its business advisory services, which have proven to be a valuable asset for established businesses and new start-ups alike.
The 60 plus-strong LHP team offers comprehensive tax planning services as well as an extensive payroll team to guide clients through all the changes for RTI, pensions and Covid-19 measures, including furlough. The team in Tenby will be managed by Mandy Cunningham, supported by Michelle Reynolds. Former director of The Alexander Partnership, Peter Griffiths, will return as a consultant to the practice with directors Matthew Williams and Dafydd Rees, meeting clients and further strengthening the expertise available to clients.
Managing Director of LHP, Matthew Williams, says, 'We are committed to providing The Alexander Partnership clients with the stability and consistency they deserve, with the added support of being one of the largest cloud and book keeping companies in Wales. Having grown up in Saundersfoot myself, we are excited to be moving to Tenby and it is great to hear from Peter how the varied range of businesses are doing in this corner of Wales.''
Peter Griffiths added, "We've worked so hard over the last 30 years to build a strong, professional and personal relationship with all of The Alexander Partnership clients. I am really pleased that LHP have now agreed to take over the practice and, with their support, I am sure we will continue to those relationships over the next 30 years. We have worked with Matthew and the LHP team previously and we really believe that they are a great fit to manage our clients expectations and beyond. I would also like to thank The Alexander Partnership team, who have been through some difficult times over the last few months but should be really excited about the future of the practice."
Huw Powell, managing partner at Begbies Traynor in South Wales, said: “This is a fantastic result, which sees two established firms come together to create a stronger offering for clients and employees alike. Safeguarding jobs is always our primary objective and is an especially pleasing outcome in these challenging times. Legal advisers from Osborne Clark and Morgan La Roche worked particularly hard on this deal and I know everyone involved is grateful for their support.”
Huw is a chartered certified accountant with more than 14 years' experience working with businesses that are experiencing financial difficulties.
His impressive network of contacts and relationships with key stakeholders - from lenders and creditors to turnaround specialists – is key in strengthening Begbies Traynor's presence in Wales.