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News Corporate Deals 7th Feb 2017

Freeths advise on chartered accountants merger

The Magma Group have announced that Clear & Lane Chartered Accountants have joined forces with Magma Chartered Accountants, to form a leading regional provider of accountancy and advisory services to the private business sector. The business deal was finalised on 3rd February 2017.

The Leicester firm, Clear & Lane, which has a strong reputation and track record of working with successful Owner Managed Businesses spanning over 30 years, will become part of the Magma Group. This will significantly enhance the firm’s ability to provide value-adding, advisory services to its existing loyal client base.

The move is part of Rugby based Magma Group’s ambitious drive to expand its Midlands’ footprint and network, further improving the service Magma Group delivers for its significant portfolio of clients.

Existing Clear & Lane Partners David Hope, Ian Hunt and Jim Reece will all remain in the newly combined business, with Luke Turner and Paul Orton joining the Magma Partnership team.  Magma will become a 9 Partner Group with an exciting future.

Magma Group Managing Partner, Mark Tuckwell, commented:

“With 9 partners, all under 45 years of age, we are committed to building a dynamic and forward-thinking firm.  Both Magma and Clear & Lane share a real passion for providing ‘big firm’ expertise, without compromising client service and value, making this a really exciting synergy.

We’re greatly looking forward to combining the strengths of the 2 fantastic teams in Leicester and Rugby, expanding our local and national network and vast capabilities. And ultimately, delivering the very best for our clients.”

The 2017 business deal is part of Magma Group’s overall vision to work with like-minded ambitious people, both as colleagues and clients. Having Clear & Lane as part of the Magma Group will enable the Group to expand on this vision, as together they continue to deliver absolute quality in today’s evolving accountancy marketplace.

Clear & Lane’s Managing Partner, David Hope, commented:

“We are very excited to be teaming up with a strong group of advisors at Magma.

Our principle objective is to ensure that our clients continue to receive a high quality service, but enhanced by the broader range of services that Magma are able to provide and therefore add value to the expanded Group’s offering.

Clear & Lane will now be referred to as“Clear & Lane Chartered Accountants, Part of the Magma Group.”

Magma Group were advised by a corporate partner at Freeths and Clear & Lane were advised by Spearing Waite in Leicester.

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