Jessica Fino 1 Dec 2017 10:04am

Blick Rothenberg buys Shelley Stock Hutter

Cogital, which stated its aim to challenge the Big Four when it launched last year, has made its first purchase under the Blick Rothenberg name

Shelley Stock Hutter (SSH) is an audit, accountancy, outsourcing and business advisory practice of over 50 staff and seven partners based in London’s Marylebone.

SSH's team and office will remain unchanged but the firm will adopt Blick Rothenberg’s name. The terms of the transaction were not disclosed.

SSH was placed 69th in the 2017 top 100 100 firms last year, with revenue of £7.36m.

The acquisition is part CogitalGroup’s aim to strengthen its presence in the owner-managed business sector.

Nilesh Shah, CEO at Blick Rothenberg, said, “We are delighted to have acquired Shelley Stock Hutter. They have a very good reputation in the market place and in terms of clients and people are a very good fit for us.”

Lynton Stock, senior partner and head of tax at SSH, said the takeover will mean existing clients will have access to a wider pool of talent, at same time as providing the “same genuine partner led relationship”.

Stock added, “This opportunity is the start of an exciting new phase for our practice. At a time when the profession is changing so rapidly, the ability to expand our service offering for clients and benefit from the investment being made by CogitalGroup is perfectly timed.

“Both firms have built excellent reputations in their respective markets and this partnership will provide opportunities to build on our current strengths and offer existing and new clients a broader and relevant service offering both now and into the future.”

Cogital, chaired by former Deloitte chief executive John Connelly, was launched as a merger between Baldwins, Blick Rothenberg and Nordic firm Visma at the end of last year.

Cogital also announced in October the acquisition of Scottish firms Campbell Dallas and Springfords by its firm Baldwins Accountants. The two acquisitions brought Baldwins’ revenue to £89m and their number of UK offices to 53, as well as adding 300 employees.

In total CogitalGroup now has over 58,000 clients and 4,600 employees with 137 offices in seven countries. It has been performing strongly with a pro forma revenue of £301m, of this £91m was generated from UK businesses and £210m from Nordic markets, according to its latest figures.