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About the deal
Commercial and corporate finance specialists play key role in “firm of the future” launch
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.
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.
Shaun Craven, Anthistle Craven
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.
David Laurie, Arlington Accountants