Crowe advises on major pharmacy group expansion

National audit, tax, advisory and risk firm Crowe has advised on the acquisition of 16 pharmacies in the north of England.

Crowe’s Midlands corporate finance team, led by partner Andy Kay and associate director Phoebe Turner, provided specialist financial due diligence and transaction support to Allcures plc, which has purchased the chain of pharmacies built up by The Hub Pharmacy Ltd.

The purchase, for an undisclosed sum, brings the number of branches operated by Allcures to 48, plus an online pharmacy business.

Andy Kay said: “The Hub Pharmacy branches are all located within health centres, or in the proximity of GP surgeries, offering significant potential for growth.

“We are pleased to have assisted in an acquisition which enables Allcures to develop its service in the north of England and to continue to enhance the strong reputation built by The Hub Pharmacy Ltd.”

Kiran Cheema, managing director of Allcures, said: “We are delighted to have acquired The Hub Pharmacy Ltd, delivering on our strategy to develop our service offering into the north of England. Andy and Phoebe were a great support during the process, providing valuable and timely advice throughout.”

The branches are spread across the north of England, including Greater Manchester, Warrington, Halifax and Rochdale.

The Hub Pharmacy Ltd was established in 2015, via a management buyout of MedicX Pharmacy Ltd, with funding support from Bridges Fund Management. Starting from a core group of nine pharmacies, the group has grown to 16.

Essex-based Allcures plc, is a 32-strong pharmacy group operating across the south of England.

Gemma Mintram of Knights plc provided legal advice to Allcures and Chris Christodoulou of Shawbrook Bank provided the funding.

Ends (275 words)

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Advanced manufacturing technologies highlighted in key Midlands briefing

National audit, tax, advisory and risk firm Crowe is teaming up with experts from the manufacturing sector to present a major briefing on the future of advanced technologies.

The event will take place at The School of Engineering at the University of Birmingham on Wednesday 29 June.

The briefing includes Crowe, in association with the Advanced Manufacturing Technologies to Create, Activate & Automate (AMTECAA) programme, Gauge and Tool Makers Association (GTMA) and Confederation of British Metalforming (CBM).

Johnathan Dudley, Head of Manufacturing at Crowe, said: “If you are looking to explore how advanced manufacturing technologies can help you be more productive, or provide a competitive edge, then this is the perfect opprtunity to see what fully funded support you can access through AMTECAA.”

The event includes sector updates from Crowe, CBM and GMTA, as well as an introduction to the AMTECAA programme, followed by the opportunity to visit state-of-the-art laboratories.

Dudley said: “During the tour, delegates will be able to see how they can create new products with additive, subtractive and hybrid engineering.

“Demonstrations will include how they can activate surfaces with laser and plasma processes and how to increase the automation of processes with robotics.”

The free event is open to businesses with fewer than 250 employees, and a turnover of less than 50 million euros, located within Greater Birmingham and Solihull, the Black Country, Coventry and Warwickshire and Stoke and Staffordshire.

To be held in the Staff House at University of Birmingham, the programe will include registration and breafast, sector updates, a tour of the laboratories and a Q&A session to conclude the event.

More details can be obtained from https://www.crowe.com/uk/events/accelerate-your-manufacturing-business-29-june-22

Or call Nathan Sanghera on 0121 543 1900, email nathan.sanghera@crowe.co.uk

Ends (283 words) 

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Crowe conference to tackle the current issues facing the Academies sector

A major update on the current issues facing the Academies sector is being held by national audit, tax, advisory and risk firm Crowe at Sixways Stadium, Worcester, on Thursday 9 June.

Crowe’s annual Academies Conference will be the first in-person event the firm has held for the sector since 2019, and partner Dave Darlaston said they were looking forward to the personal interaction that a live, face-to-face discussion will offer.

Crowe speakers Dave Darlaston and director Matt Doyle-Healey will be joined by Robert Gould of Barker Associates and Phil Herriott of Lloyds Bank to discuss the issues facing the sector.

Robert Gould is a chartered building surveyor who provides strategic estates advice and specialises in the education sector. Phil Herriott is a commercial banking manager in Lloyds Bank’s dedicated team of specialist education relationship managers.

Matt Doyle-Healey said: “We have all had a difficult three years to negotiate since we all sat down face-to-face to share insights with our colleagues in the academies sector.

“Together with our panel of experts, we will be discussing topical issues including sustainability, cyber security and fraud, trading subsidiaries and VAT and tax implications.

“We will also review the implications of the Schools’ Bill, review governance matters, provide an accounting update to include accounts direction, and consider the 2022 Academy Trust handbook.”

The event is ideal for trustees, accounting officers, finance directors and business managers of academy trusts who are seeking real insight and an update to ensure they are up to speed both on changes and policy developments in their sector.

Crowe is a leading advisor to academies, providing regular technical update and risk management to accountants, school business managers, governors and trustees.

The event, which is free to those working in the academies sector, will run from 08.30 to 13.30. To register go to https://www.crowe.com/uk/events/academies-conference-9-june-2022, email nathan.sanghera@crowe.co.uk or call 0121 543 1900.

Ends (310 words)

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Energy security strategy must balance reality today with future needs

The UK’s future energy security strategy needs to tread a fine line between the practical needs of industry now and its medium to long-term targets, the Head of Manufacturing at national audit, tax, advisory and risk firm Crowe is warning.

Johnathan Dudley said there was the inherent risk of securing the UK’s domestic energy policy and committing to a greener future, while businesses simply imported products from countries that paid only lip service to the environmental agenda.

“It’s no good being ‘clean’ but importing products from countries that aren’t. It’s just creating poverty here while moving the problem elsewhere.

“Not all countries are committed to net zero, let alone by 2030/2050, and this is what is behind the rumoured threat by Toyota to move manufacturing away from the UK. Others may follow.” he said.

He cautioned that an over-aggressive, early implemented energy security strategy has grave short-term risks for business.

“In the short-term there will undoubtedly be an impact on cashflow, on the return on capital employed, and an impact on profits which, ultimately, may risk the survival of some businesses.

“We need a balanced and affordable strategy that supports UK industry in the short-term and incentivises investment for the future. This will need grant funding, as loans are already gearing balance sheets too much.

“Organisations with money will only invest in countries with the best incentives and a more realistic, balanced approach to net zero.

“Industry has a key role to play here as an influencer, to help the UK government steer a viable path between ultimate energy security for the country, and the current practicalities facing manufacturing businesses.”

Ends 

Contacts:

  • Miriam Sherwood, Director, People Communications & Marketing, Crowe UK. Tel: (0)121 543 1900, sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Likewise reporting strong progress in first quarter of 2022

Likewise Group plc, the Birmingham AIM-listed floor coverings distributor, has announced that trading in the first three months of 2022 is ahead of internal budgets.

Valley Wholesale Carpets Ltd, which operates autonomously and was acquired by Likewise in January 2022, is also trading ahead of initial expectations.

Chief executive Tony Brewer and the board of the fast growing company congratulated the management, sales representatives and all staff in Likewise, and group businesses A&A, Factory Flooring, H&V and Valley, for their excellent contribution to the performance of the business.

He added that while the first three months can only ever provide limited indication of the year as a whole, early trends are positive, and the board remains confident in meeting market expectations for 2022.

“The horrific events in Ukraine are tragic for the people and devastation caused. The inevitable consequences are impacting the cost of our products.

“These include manufacturers’ energy costs in production, increases to the costs of various raw materials and transportation. The Group’s trade brands will issue a new price list on 1 May to reflect cost price increases. It is very difficult to predict the wider economic repercussions of the current macro environment and resulting effect on consumers’ disposable income,” he said.

Notwithstanding this short-term uncertainty, Likewise continues to develop its logistics infrastructure. Birmingham is now operational which doubles the carpet capacity for the Likewise branded businesses. Construction is underway for a new distribution centre in Glasgow and the business in Newcastle has now moved into an enlarged facility adjacent to its previous location.

The search continues to relocate A&A into significantly larger premises in the North West. The Group is also establishing a new logistics centre in Newbury to service the South of England.

The Group has obtained planning permission to extend the freehold distribution centre in Sudbury and is currently working on constructing the extension in the most cost effective method while keeping with the original design concept. This development will allow Likewise Rugs & Matting to increase product offering and service to its diverse customer base.

Construction is also due to commence to extend the freehold distribution centre in Derby by 20%, and a new carpet cutting machine is on order to increase the cutting capacity in Valley.

When this machine is operational, it will allow Valley and Likewise to operate from the currently unused distribution centre in Newport, South Wales. This will take both businesses into new geographical territories of South Wales and South West England.

Likewise continues to increase market presence through the recruitment of experienced sales representatives and has numerous point of sales initiatives including display stands, lecterns, wall stands and sample books. All of these initiatives further establish the Likewise trade brand.

Mr Brewer added; “In the immediate term, Likewise believes it has the supplier and customer relationships, combined with excellent management and staff, to continue to outperform the marketplace. This is consistent with the development of Likewise, particularly over the last two years.

“While there are short term global and economic issues, the group is confident that establishing the enlarged infrastructure outlined above will allow Likewise to achieve its medium term objectives and beyond.”

The acquisition of Delta announced last Friday (1 April) confirms the Group’s intention to make strategic additions, particularly where they can increase or create capacity. This will augment the organic opportunities to enlarge the current businesses of Valley, A&A, Factory Flooring, H&V plus the Likewise branded businesses through continued investment in sales teams and increased market presence through sampling and display.

Likewise Group plc will release its final results for the year ended 31 December 2021 on 24 May 2022.

As previously announced, total revenue in 2021 increased by 29% to circa £61 million (2020: circa £47 million) and management expects that the adjusted profit before tax for the 2021 financial year will be circa £1.6 million.

The Group also intends to commence a progressive dividend policy and declare its maiden dividend alongside the announcement of its 2021 Final Results to be approved by shareholders at the Annual General Meeting.

Tony Brewer, Chief Executive of Likewise said: “Notwithstanding challenges in the immediate term, the Group is now well established and has plans to further enlarge its geographic reach. With the investment in distribution centres, sales resource and market presence, we are confident of exceeding our medium and long term aspirations as previously communicated.

“We would like to thank all of our staff, suppliers, customers and shareholders for their support and look forward to a positive future”.

Ends (751 words)

Issued on behalf of Likewise Group plc, Unit 4, Radial Park, Birmingham Business Park, Solihull Parkway, Birmingham B37 7YN

For further information, please contact:

Andy Skinner, at ASAP PR – 07990 978257

Editors’ Notes

Likewise Group plc is a distributor of floorcoverings and mattings established with the intention of consolidating the domestic and commercial floorcoverings markets to become one of the UK’s largest distributors in this sector. The UK floor and wall covering market is worth circa £3.2 billion and is expected to increase at a compound annual growth rate of 2.1% from 2019 to 2024 to reach £3.5 billion, split between the residential, commercial, public and industrial markets. Likewise Group’s strategy is to focus on the residential and commercial sectors.

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Crowe teams up with Chamber to analyse Sunak’s sums

Specialists from national audit, tax, advisory and risk firm Crowe are teaming up with the Black Country Chamber of Commerce to provide live commentary on Chancellor Rishi Sunak’s Spring Statement on Wednesday 23 March.

Johnathan Dudley, managing partner of Crowe in the Midlands, said: “The Chancellor will be presenting his economic and fiscal forecast after one of the most troubled times in the UK economy in the past year, and against the backdrop of the current situation in Ukraine.

“The Conservative Party has traditionally been the party of low tax but, notwithstanding the economy is picking up faster than some anticipated, he still has some serious holes in his budget.

“Add to this domestic issues such as the growth of electric vehicles reducing his Vehicle Excise Duty (VED) take, albeit there is a rise in VED from April 2022, and he has some critical issues to face in coming years.”

Mr Dudley and Crowe partner Rob Gunn will be joined at their Midlands office by senior officers from the Black Country Chamber of Commerce who will help analyse the key outcomes and how they may impact business leaders and their companies.

Corin Crane, chief executive of the Black Country Chamber of Commerce, said: “On the back of what we long hoped would be a period of gradual recovery as we learned to live with COVID, we’ve entered 2022 in a very precarious position for the economy.

“On the one hand, some sectors are rebounding strongly yet, for many, the escalating costs of doing business, supply chains and world events continue to cause concern for those trading across the region and beyond.

“We’re delighted to working be working with Crowe to bring reaction and analysis following the Chancellor’s remarks of this keenly anticipated economic forecast which will likely frame forthcoming decisions in businesses across the Black Country.”

The event will start with a working lunch from 12:00 before the Chancellor stands up to speak. There will be the opportunity to take part in a question and answer session with Crowe and Chamber specialists on the panel.

There is no cost to attend the event. To register, email nathan.sanghera@crowe.co.uk or call 0121 543 1900.

Ends (359 words)

Contacts:

Miriam Sherwood, Director, People Communications & Marketing

Crowe UK. Tel: (0)121 543 1900, miriam.sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Ranked 5th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, January 2022)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

 

Crowe’s Kent office gives quay advice in superyacht media deal

The corporate finance team in the Kent office of national audit, tax, advisory and risk firm Crowe has advised the purchasers on an acquisition which brings together two of the global leaders in superyacht multimedia, events and intelligence.

Corporate finance partner Geert Struyven led the team that provided corporate finance services, financial due diligence and tax advice to London-based BOAT International Media (BOAT) which has purchased Boating Communications of Godalming, Surrey, publisher of International Boat Industry (IBI) magazine for an undisclosed sum.

Geert Struyven said: “The acquisition sees BOAT strengthen its position in the B2B market. Founded in 1968, IBI is the most established and respected magazine serving the volume boat industry.”

The deal also includes IBI’s market intelligence platform, IBI Plus, its digital channels and the company’s events.

The Crowe team included Lewis Clarke, Harvir Atwal and Geert Struyven on the corporate finance side, Emma Reynolds and Simon Cookston who supplied tax advice.

Helen Garner from law firm Cripps Pemberton Greenish led the legal team that supported BOAT.

Three of Boating Communications’ directors, Ed Slack, Philippa Drysdale and Philip Pereira will continue with the company as will all the staff, while its CEO Nick Hopkinson, who has been associated with IBI since 1968, will act as a consultant to BOAT.

BOAT will maintain the B2B services IBI provides to the global boating industry and will develop its print and digital offering. IBI Plus, meanwhile, will complement BOAT’s existing and market-leading BOAT Pro market intelligence platform, which serves the superyacht industry.

BOAT’s co-CEO Toby Moore said: “This is an incredibly exciting partnership for both BOAT and IBI. The synergies are strong and the opportunities moving forward are huge, given IBI’s credibility and authority in the B2B space.”

Tony Euden, co-CEO of BOAT, added: “This natural alliance allows us to further develop both the BOAT and IBI brands. It offers us the opportunity to expand on the brilliant work that Nick and his team have undertaken over the past years especially within the data, digital and events arena.”;

Nick Hopkinson, CEO of Boating Communications, said: “I am delighted that we have found such a complementary partner in BOAT to assist with the future development of IBI and that our combined resources will enable the new group to focus on providing the very best information and data available on both the superyacht and volume boat business globally.

“Our experienced team will remain in place, and I am pleased to have been asked to continue as a consultant after more than 53 years’ involvement in the business.”

Ends (424 words)

Contacts:

Miriam Sherwood, Director, People Communications & Marketing

Crowe UK. Tel: (0)121 543 1900, miriam.sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk

Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2021)
  • Ranked 6th in the AIM auditors ranking by number of audits (AIM Advisers Rankings Guide, October 2021)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, July 2021)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

About BOAT International Media

BOAT International Media (BOAT) is the leading global multimedia, business intelligence and entertainment brand for the superyacht world, influencing and serving the sector for more than 30 years. BOAT connects, informs and entertains the wealthiest and most inaccessible people across the globe with a shared interest and passion for superyachts through their unrivalled magazines, digital channels, world-class events, luxury books and insight resources. BOAT produce market leading magazines that sell in 57 countries worldwide. Its events portfolio includes the World Superyacht Awards, the Design & Innovation Awards, the Superyacht Design Festival and the Explorer Yachts Summit.

About Boating Communications

International Boat Industry was founded in 1968 by the former marine equipment distributor John Threlfall and was later sold to Reed Business Publishing before being acquired by Nick Hopkinson in 1982 followed by UBM in 1990 and eventually by Time Warner and Time Inc in 1998. Boating Communications has owned IBI for nearly five years following a management buyout by the directors from Time Inc. in early 2017. IBI has been the official magazine of the world’s largest marine equipment exhibition, METSTRADE, since its inception in 1988 and is the co-owner with RAI Amsterdam of the annual Boat Builder Awards for Business Achievement which are presented during the show.

Enhanced funding for Lightfoot assisted by Crowe

A South West business which helps companies cut their motoring costs, improve efficiency and minimise the impact of transport on the environment, has secured funding from Volpi Capital thanks to the help of the Corporate Finance team in the Midlands office of national audit, tax, advisory and risk firm Crowe.

Corporate Finance partner Andy Kay assisted by director Chasz Coulsting and colleagues Phoebe Turner and Nick Martin, provided financial due diligence services to Volpi Capital which has invested in Lightfoot, the Exeter-based provider of in-cab driver coaching and engagement technology.

Kay said: “We were delighted to support and advise Volpi Capital throughout this process. The investment they have made will support Lightfoot’s further growth, fund R&D and help it extend internationally.”

The deal also provided an exit for BGF, the independent investment company which originally provided £3.2 million for Lightfoot in October 2018.

Kay added: “In the wake of COP26, the UN climate change conference, this further support for Lightfoot is timely.”

Lightfoot has developed a platform to help fleets running on internal combustion engines (ICE) to cut costs and improve efficiency. It has also turned its attention to the electric vehicle (EV) sector.

A device mounted on a vehicle’s dashboard, which is connected directly to the engine, gives drivers audible and visual prompts. This steers them towards a more efficient driving style, and enhances compliance among fleet drivers and aids driver wellbeing.

Drivers are rewarded for smoother and safer driving with incentives which include weekly cash prizes of up to £200 in The Drivers’ Lottery.

The system has been adopted by major clients including Tesco, Asda, Virgin Media, Western Power Distribution, Dixons Carphone and South West Water.

Marco Sodi of Volpi Capital noted that as part of the firm’s thematic research and investment track record in telematics and fleet management, it “immediately identified Lightfoot as a unique and differentiated solution well-suited to provide economic, environmental and safety benefits to both ICE and EV LCV fleets.

“We believe we can help the team capitalise on these strong market tailwinds, and further accelerate the fantastic momentum Lightfoot has been bulding up.

“We see a significant opportunity to enrich the proposition as well as expand the business internationally, and are very excited to be partnering with the ambitious Lightfoot team on this exciting journey.”

He thanked Andy Kay and the Corporate Finance team at Crowe for their support throughout the deal.

Arrowpoint Advisory, part of Rothschild & Co, advised Lightfoot on the deal, with other advisors to Lightfoot and BGF including law firm Burges Salmon, PwC and CIL.

Kay said: “Lightfoot is a fine example of British innovation which can now be rolled out globally. The corporate finance market is very active at present, and we are keen to speak to businesses that have a product or service that is scalable in a similar way.

“Successful UK companies are pushing against an open door as far as funding is concerned, and we need to encourage more take up across all industry sectors.”

Ends (499 words) 

Contacts:

Miriam Sherwood, Director, People Communications & Marketing

Crowe UK. Tel: (0)121 543 1900, miriam.sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Leading advisors to the UK mid-market, ranked 8th AIM and Main Market auditor (By number of audits of listed companies, FRC Key Facts and Trends in the Accountancy Profession, Figure 38, October 2020)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, October 2020)
  • Risk Consultancy of the Year 2021 for the second consecutive year (InsuranceERM) – Crowe was recognised to be at forefront of two key areas of focus for insurers in 2020: operational resilience; and environmental, social and governance (ESG) issues, including climate change.
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

National acclaim for Parris named as a rising star in the private client sector

Parris Britton, a manager in the Midlands (Oldbury) office of national audit, tax, advisory and risk firm Crowe, has been recognised as one of the leading young stars in her sector.

She has achieved national recognition in “eprivateclient 35 under 35 – Women”, the definitive and original list of rising stars in the private client sector.

Mrs Britton joined Crowe in 2013 after completing an Accounting and Finance Degree at the University of Central Lancashire.

While working full-time in the Midlands office Private Client Department, she studied for her ATT qualification and continued on to study for her CTA qualification.

Having specialised in inheritance tax, trusts and wealth planning, Crowe supported her when she aspired to study for her STEP Diploma in Trusts and Estates (England & Wales).

In her role at Crowe, she provides tax advice to various types of clients from business owners to high net worth individuals, while also ensuring her clients meet their tax compliance obligations.

She said: “I am extremely grateful to have been chosen as one of the 2021 eprivateclient Top 35 Under 35 – Women.

“It is an honour to have my hard work and accomplishments recognised by this organisation. I have always been passionate about the advice I provide and maintaining quality client service, as I genuinely enjoy helping people and guiding them through the sometimes complex areas of taxation.

“Having joined Crowe UK in 2013, I have been mentored by some incredible people, which has enabled me to develop into the professional I am now. Today, as a Chartered Tax Adviser and STEP member, I am able to be the trusted advisor my clients need.

Rebecca Durrant, Crowe’s National Head of Private Clients, said: I am delighted that Parris has been recognised in the top 35 under 35.

“Parris is a very talented tax advisor and an integral part of the Crowe team. Her knowledge and expertise is well known and appreciated throughout our national practice and by her clients.

“She is always generous with her time in support of her colleagues and can always be relied upon to deliver a project.

“Parris is also very much a part of the work we do in the wider firm to support our ED&I initiatives and is an outstanding role model for the next generation of advisors. I believe Parris has an exceptional future ahead of her and am very proud that she is part of our Crowe National Private Client Team.”

Mrs Britton is also an active member of the Equality, Diversity and Inclusion initiative and takes leadership roles in both the Women’s Empowerment Programme and the BAME & Allies network.

Nominations for the awards are invited for young and upcoming stars within the private client advisory professions from the UK and Crown Dependencies (Jersey, Guernsey and Isle of Man), including private client and family lawyers, accountants, trustees or residential property buying agents.

Ends (478 words)

Contacts:

  • Miriam Sherwood, Senior Manager, National Marketing and Communications, Crowe UK. Tel: (0)121 543 1900, miriam.sherwood@crowe.co.uk

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, one of the top 10 accounting networks in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

For more information, visit: www.crowe.co.uk


Crowe industry recognition

  • UK Member of one of the top 10 accounting networks in the world (International Accounting Bulletin World Survey 2021)
  • Top charity auditor (Charity Financials Auditor Benchmarking and Charity Finance Audit Survey, 2009 – 2020)
  • Leading advisors to the UK mid-market, ranked 8th AIM and Main Market auditor (By number of audits of listed companies, FRC Key Facts and Trends in the Accountancy Profession, Figure 38, October 2020)
  • 9th largest audit firm in the UK (UK fee income of audit firms that audit PIEs – by fee income on audit, FRC Key Facts and Trends in the Accountancy Profession, Figure 33, October 2020)
  • Awarded Bronze for Accountancy Firm of the Year – Large (2020 Citywealth Magic Circle Awards)
  • Global Mobility Provider of the Year (Global Payroll Awards 2020)
  • Employment Tax Specialist of the Year (Global Payroll Awards 2019)

Likewise appoints former KMPG regional head as independent non-executive director

Likewise Group plc, the AIM-listed distributor of floorcoverings and mattings, has appointed the former Midlands head of accountancy giant KPMG as an independent non-executive director.

Mike Steventon joins Likewise’s audit committee as chair, and also the remuneration committee, with immediate effect. He retired from KPMG in 2020 and has since taken a small number of non-executive and consultancy roles.

Tony Brewer, chief executive officer of Likewise, said: “We are very pleased that Mike is joining the board of Likewise.

“He has a wealth of experience in finance and industry, and his knowledge will be a huge benefit in working with the board to steer us through our growth aspirations, and for Likewise to achieve its goal to be a leader in the flooring industry.”

Mr Steventon, aged 58, has over 34 years’ experience in the professional services industry at KPMG, rising to partner in 1998, with a focus on auditing international listed groups.

Based at new headquarters at Radial Park, Birmingham Business Park, Solihull, Likewise Group plc has grown rapidly since its launch in late 2018, with a series of acquisitions.

These have included William Armes Ltd and the trade and assets of Bruce Starke & Co Ltd, plus Lewis Abbott Ltd, Heatseam Ltd and H&V Carpets BVBA in 2019, and A&A Ltd in Manchester in 2020.

The business listed on the UK’s Alternative Investment Market in August 2021.

Ends (229 words)

Issued on behalf of Likewise Group plc, Unit 4, Radial Park, Birmingham Business Park, Solihull Parkway, Birmingham B37 7YN

For further information, please contact:

Andy Skinner, at ASAP PR – 07990 978257

Editors’ Notes 

Likewise Group plc is a distributor of floorcoverings and mattings established with the intention of consolidating the domestic and commercial floorcoverings markets to become one of the UK’s largest distributors in this sector. The UK floor and wall covering market is worth circa £3.2 billion and is expected to increase at a compound annual growth rate of 2.1% from 2019 to 2024 to reach £3.5 billion, split between the residential, commercial, public and industrial markets. Likewise Group’s strategy is to focus on the residential and commercial sectors.

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