ktsowensthomas advise on biggest deal to date

Leading Welsh accountancy firm ktsowensthomas has advised on its biggest deal to date to secure Cardiff entrepreneur Paul Bailey 100 percent ownership of £100 million turnover A&P Group.

As trusted advisors to The Bailey Group for over ten years, the Cardiff and Aberdare-based firm acted on behalf of the property development company to secure total ownership of the UK’s biggest ship repair business.

ktsowensthomas summoned a 12 strong team to visit A&P’s four sites across the UK in Tyneside, Teesside, Chatham and Falmouth to carry out financial and tax due diligence.

The ktsowensthomas team, led by director Roy Birtles and associate director Carol Warburton, was the only Welsh firm to advise on the buyout alongside London-based law firm Travers Smith and national firm Deloitte who acted as pensions advisers.

A&P was founded in 1971 and has become a major force in ship repair, conversion and marine services, with clients from over 70 countries.

Paul Bailey, chairman of the Bailey Group, said: “This was a very significant deal for us and we really appreciate the role of our advisers in structuring, project managing and advising us through this process. Having worked with ktsowensthomas for a decade they really understand our existing business and our strategy for the expanded business. Their capabilities and expertise as a firm has ensured a successful result.”

Roy Birtles, director at ktsowensthomas, said: “This was a very rewarding deal to be involved in and our talented team has worked extremely hard to turn this around. The expertise we have within the team combined with the strength of the relationship and the resulting in-depth knowledge of The Bailey Group played a key part in ensuring a a highly successful outcome for a very happy client. We wish the company every success going forward.”

Established six years ago when two local companies merged, ktsowensthomas has grown its offering from traditional accountancy to all-round business support, employing staff out of offices in Cardiff Bay and Aberdare.

ktsowensthomas is a firm of three-dimensional accountants and tax advisors. With a head office in Cardiff and a regional office in Aberdare, we are well placed to cover the accountancy needs for business and private clients in south and mid Wales. We provide financial and commercial services to owner managed businesses, small businesses, mid to large corporates, public sector, charity, not-for-profit organisations and private clients across south Wales. Our expert Cardiff accountants or regionally based expert advisors would be pleased to review your audit, tax return, business accounts and annual reporting needs.

If you are a small business in Cardiff, Swansea or Newport looking for advice on audit, business consultancy, corporate finance, tax or wealth planning, please get in touch.

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