Rees Pollock, which specialises in advising owner managed businesses, has seven partners, is based in London and was formed in 1990.
The news comes a week after it was revealed that Permira had withdrawn its interest in a stake CogitalGroup. Negotiations fell through after disagreements arose between the European-based private equity business Permira and CogitalGroup owner Hg Capital regarding pricing, reports suggested.
Permira was one of four PE groups – Hellman & Freidman, BC Partners and PAI – who had shown interest in acquiring the group. CogitalGroup was launched in August 2016 by John Connolly, former global chairman of Deloitte, with funding from Hg.
Connolly said the Rees Pollock deal “builds on Blick Rothenberg’s ability to support owner managed businesses particularly those that are regulated by the Financial Conduct Authority. This acquisition is part of Cogital’s growth strategy and is another step forward in our plans to build a technology driven international business services group strengthening our presence in the entrepreneurial business sector.”
Simon Rees, senior partner of Rees Pollock said, “The Blick Rothenberg team and the wider CogitalGroup, with their investment in technology, will broaden the range of services we can offer to our clients both in the UK and internationally.”
The group was initially comprised of London-based accountants Blick Rothenberg and Azets, a Scandinavian business previously known as Visma BPO, and within two months Cogital had bought Baldwins.
Following a raft of further acquisitions – of Wilkins Kennedy, the 18th largest firm in the UK, and Campbell Dallas in Scotland among others – the group’s revenues hit the £500m mark. It now boasts a workforce of more than 6,500 in around 200 offices across eight European countries.