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Newport Based Accountancy Firm Acquires Neighbouring Practice

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South Wales accountancy practice Parker & Co has signalled its post pandemic readiness by acquiring another business as well as launching a new website.

The Newport-based firm has expanded after the acquisition of neighbouring practice Griffiths & James Accountants of Cwmbran.

Fresh adventure: Gary Parker, (left) who has set a new course after acquiring another accountancy practice with (l to r) Karen Tingey, David Griffiths, Gloria Dodd and Gareth Pinder.

Gary Parker, head of the new business, said:

The enlarged practice will operate with a staff of 11, which includes three joining from Cwmbran. We will continue to practice as Griffiths & James Accountants from the existing office in New Street,  Pontnewydd, Cwmbran, so there will be continuity for our clients.

It is a first step to the retirement of the current owner, David Griffiths. The business will be run by Gareth Pinder, ACCA, who joined Parker & Co in March. David will be retiring but will be on hand for six months or so to ensure a good handover.

The acquisition of the practice, which we have come to know well over the years, presented an opportunity to expand Parker & Co. by the acquisition of a very reputable practice. This will extend the depth of experience we have as a whole.

“Services will remain the same but we will have more depth of experience to help clients with the various business issues that come up on a day to day basis.”

Parker & Co will now have two offices, the one in Cwmbran practising as Griffiths & James, and it will also continue to practise as Parker & Co from Summit House, Waterside Court, Newport.

Gary says the pandemic lockdown created challenges and delays in completing the acquisition, but he had to be bold and confident in pressing on.

We started talking to David a year ago and were set to complete on 1st April but coronavirus caused us to delay. Despite the risks and current challenges in business I believe now is the time to be positive and move forward in the true ethos of adventure in business.

The priority now is to get to meet all of David’s clients and reassure them that it will be business as usual and there will be no interruption in the services provided. Karen Tingey and Gloria Dodd will continue to run the office and David Griffiths will be around too.”

Global explorer and mountaineer Gary says the new website, complete with images of rolling vistas of mountain scenery, seeks to emphasise and underline the ethos of the business.

Gary, who has lead expeditions to some of the world's most inaccessible places as well as its tallest mountains, said:

“Our ethos is business is an adventure – enjoy it. It is a theme which we have emphasised on our new website and one which we live by on a daily basis and is shared by our clients.

The website was designed by András Lengyel of RED PXL. He did a marvellous job and fully understood the brief and fully delivered our vision. We needed a new, updated, website that was more akin to our ethos, adventure in business.

We will be updating our news, our Journal, with relevant tax and coronavirus issues as they arise. It will evolve and be updated. Current issues will be regularly included in our news items, which have been called our journal.

“We want to continue to expand the practice but the first thing to do is to consolidate this change and update our systems – for example take final steps into a paperless office, cloud accounting, and remote working and communications.”