ESSEX law firm, Birkett Long, has played a key role in the launch of Xeinadin, the UK and Ireland’s largest professional services consolidator.
Dubbed “the overnight merger”, the Xeinadin group consolidates over 120 independent accountancy firms. These firms have merged to become one united, leading professional services provider.
Accountancy practices within the group range from small, local offices to larger, regional multi-office practices with several directors. Many of the firms were specifically targeted for the group on the basis of their track record and future potential with many demonstrating entrepreneurial success. Several are regional and national award winners and all were motivated by this unprecedented, visionary opportunity to work together as one more robust entity.
Birkett Long assisted 52 of the 120 firms that form part of the group, commencing work in September 2018 with consolidation taking place in May 2019.
The firm represented the interests of the accountancy practice members looking to join the Xeinadin group, advising them on the documentation produced on behalf of Xeinadin, to bring them all into the group together on the consolidation date. This involved negotiating revisions to ensure a balanced relationship, working with the Xeinadin Board and its advisers to find solutions to matters as they arose, preparing and advising on the ancillary documents required to achieve consolidation and population of key documents to ensure all legal arrangements were in place to enable them to join the group.
Tracey Dickens (pictured), Partner and Head of Commercial and Corporate Finance at Birkett Long says: “I am really proud of our team for their hard work on this project, achieving the execution of the consolidation whilst ensuring that each and every client received a high standard of service under considerable time pressure.”
Firms involved in the deal echo Tracey’s sentiments:
Shaun Craven of Anthistle Craven said: “Can I start with my thanks for your efforts in getting across the line with this transaction, please do also pass on my gratitude to your team who were also a great help.”
David Laurie of Arlington Accountants said: “Tracey, thank you and your team for your great effort and guidance, we are very pleased that we chose you and Birkett Long! Hoping you may take a holiday soon and fully recover from your tremendous, never ending diligence.”
Terry Loring of Accountax 2018 said he found everyone he dealt with on the project “exceedingly professional, courteous and efficient”.
Another client said: “Thank you…for all of the hard work you and your team have put into this over the last few months. You have certainly helped me through what would have been a minefield and so thank you again.”
Birkett Long has offices in Chelmsford, Colchester, Basildon and London. With 26 partners, it provides a wide range of legal and independent financial services for business including corporate and commercial advice, dispute resolution, education, insolvency, intellectual property and employment and for individuals: wills and conveyancing, family law, independent financial advice, dispute resolution and accident and negligence claims.
For more information, visit www.birkettlong.co.uk or call 01206 217300.