The firms announced on Wednesday that the deal aims to create one of the largest accountancy and financial advisory firms in the South East.
Following the incorporation of Spofforths, the firm has now 50 partners and 450 staff in 10 different locations.
The board from the wider firm includes Kreston Reeves’ managing partner Nigel Fright, senior partner Andrew Griggs, chairman Clive Stevens and David Hurst, partner and managing director of the firm’s financial planning. Bryan Elkins from Spofforth has also joined the board.
Kreston Reeves said there will be a transitional period where Spofforths will embrace the firm’s brand, while the two firms integrate staff, processes and systems. After the transitional period, Spofforths will be known as Kreston Reeves LLP.
Nigel Fright said, “By joining forces with a firm very similar to us in outlook, culture and ambition, we'll be creating an organisation that will further enhance the services and expertise we are able to offer our clients as well as presenting further opportunities for all our people.
“As the firm expands further we will be moving towards a more regionalised management structure across London and the South East.”
Richard Spofforth, the firm’s managing partner, said, “Spofforths has been a respected name in Sussex for accounting, business and financial advice over many years, so we will be using a transitional period to combine the strengths of each firm, across all our locations, in a way which looks after the best interests of clients and staff.”