Danny McCance 17 Dec 2018 11:08am

Cogital Group increases revenues to £453m

The global accountancy group, established in 2016, has increased its revenue by more than 50% in its first two years

Cogital Group’s turnover of £453m is up from £301m in 2017, following another year of acquisitions.

Half of its revenue was generated in the Nordic markets and the other half in UK markets.

The group has 177 offices across the UK, Norway, Finland, Sweden, Denmark, Romania and Lithuania and now has 6,000 employees serving 90,000 clients.

Just under half (49%) of the group’s revenue is generated through business process outsourcing, accounting, book-keeping, compliance tax and global services while 18% is generated through Payroll and HR related services.

The majority (84%) of the groups clients pay less that £5,000 in fees and account for 25% of the groups value, while 21% of value is generated by the 1% of clients paying more than £100,000 in fees.

In September, the group completed its largest acquisition to date of top-20 accountancy firm Wilkins Kennedy, which had 18 offices across London and the South East and revenues in excess of £54m.

Former Deloitte chairman and CEO and now executive chairman of CogitalGroup John Connolly established the group – consisting of Blick Rothenberg, the former business process outsourcing division of Visma and Baldwins.

 “In our first two years CogitalGroup has established itself as a business of size and scale, with client focus at the centre of everything we do,” said Connolly.

“Having rapidly expanded through strategic acquisitions within the UK and Nordic markets, our clear focus is on continued organic growth and selected, smart M&A,” he added.