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AZETS ACQUISITION
Accountancy group snaps up £ 13m turnover Tait Walker
Accountancy group Azets has announced the acquisition of Tait Walker , one of the largest independent accountants and business advisors in the North-East .
It marks the third UK acquisition in four months as Azets continues to deliver on its ambitious growth plans , with the £ 13m turnover firm advising around 4,000 clients .
Tait Walker was established in 1937 and has five offices across the North-East and Cumbria – headquartered in Gosforth ( Newcastle ), with offices in Stockton , Morpeth , Durham and Carlisle .
The acquisition takes Azets ’ UK regional network to 84 offices and enhances the UK Top 10 accounting firm ’ s key service lines including accounting , audit and assurance , tax , data analytics , corporate finance , and payroll services .
Tait Walker also provides a wealth management service , authorised to provide regulated activities by the FCA , which expands Azets ’ UK wealth management service into the North for the first time , extending its successful business in the South .
Durham County Council has agreed to sell its newly-built HQ to Durham University .
In June 2021 , councillors agreed to review the future use of the building constructed on The Sands , and to consider whether a business case could be established for an alternative accommodation strategy .
The council ’ s cabinet has since agreed to sell the building to the university , which is seeking accommodation for use as a business school in the city .
Cabinet is also being asked to agree a business case for the council ’ s office and civic accommodation to be located at Aykley Heads in Durham City , along with office accommodation in Stanley .
The proposals will provide a number of economic benefits , with the costs of the construction and the alternative
Deal – Peter Gallanagh ( right ), regional CEO for the North at Azets UK , with Tait Walker managing partner Andrew Moorby .
Acquiring Tait Walker adds over 170 talented , smart people in business support and client-facing roles to the Azets team , including 12 partners .
Azets already has a strong presence across the North , with eight offices in the North- East , six offices in the North West and two in Yorkshire .
Peter Gallanagh , regional CEO for the North at Azets UK , said : “ We believe strongly in the local delivery of personalised client services , whilst giving businesses in the North-East the opportunity to benefit from our breadth , depth , and experience as an SME-focused international accounting , tax , audit , advisory and business services group .
“ Tait Walker has a strong regional reputation for its personable approach and specialist expertise which , combined with Azets ’ local and international reach , opens up a wealth of opportunities for our clients .”
Andrew Moorby added : “ Azets is a business which shares our clear focus on people and clients – it is the perfect fit both strategically and culturally .”
New council HQ building to be sold to university
accommodation strategy being more than offset by the proceeds of the sale of the building .
The plans would enhance opportunities for the development of Aykley Heads as a strategic employment site and it is anticipated that the provision of office accommodation in Stanley town centre will help to further regenerate the town .
BUSINESS BRIEFS
CARBON NEUTRAL EVENT Durham County Council hosted an event with international partners to share information on how to get more businesses to become carbon neutral .
As part of the local authority ’ s objective for County Durham to become carbon neutral , staff are taking part in SME Power , to learn from other authorities across Europe who are working on similar challenges .
Through the Interreg Europe project , the council hosted partners from Ireland to share experiences on how to work with small and medium enterprises ( SMEs ) on delivering energy efficiency projects to help decarbonise the sector and contribute towards the county ’ s net zero targets .
THANKS , SAM A firm of County Durham engineers has stripped hours from its manufacturing times and is planning to venture into new markets , thanks to an elite team of experts .
Bignall Group is saving hundreds of manhours , investing in new machinery and already planning the second phase of its project working with a team of specialists from the Sustainable Advanced Manufacturing ( SAM ) Project .
SAM – which offers a range of support to SME manufacturing businesses in the North-East LEP area – supported the Shildon-based operation following a full survey of Bignall Group ’ s production and workflow management systems .
GROUP ' S PROFIT DROP County Durham-headquartered renewable energy , property , mining and transport firm The Banks Group is continuing its transition into a growing range of business areas after recording a substantial operating profit over its last financial year .
The family-owned employer has reported a combined operating profit of £ 18m across all of its businesses for the financial year ending 30 September 2021 , down from £ 26m the previous year , due to a combination of the end of its coal mining operations , delayed planning permissions and disruptions caused by Covid .
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