Grant Thornton Channel Islands has acquired the audit business of Saffery Champness in Guernsey, providing the firm with "significant opportunities" for further growth.
The deal will enable Grant Thornton to expand into the local business market as well as financial services sectors and outsourced finance functions.
A total of six staff from Saffery Champness will join Grant Thornton, including Jeremy Ellis who joins as Director in Guernsey.
We are told the transaction will have no impact on the rest of the business of Saffery Champness in Guernsey, nor on the wider audit business of Saffery Champness in the UK.
“We are delighted to welcome the audit team from Saffery Champness on board and believe this is a very good move for all parties," said Cyril Swale, Head of Office in Guernsey for Grant Thornton.
"There are significant similarities between our organisations in terms of corporate values and a mutual dedication to client service, so becoming part of Grant Thornton is a natural next step for the team.”
Nick Batiste, Managing Director of Saffery Champness Registered Fiduciaries in Guernsey, said the deal had been given lengthy consideration.
“After a wider strategic review and very careful consideration, we have decided to sharpen our focus on our core business areas in Guernsey to ensure we are best placed for the future," he said.
"We will, of course, miss Jeremy and his team as colleagues very much, but we’re pleased that they have a bright future as part of Grant Thornton in the Channel Islands.”
Adam Budworth, Managing Director of Grant Thornton Limited, added: “I am delighted with this acquisition, the latest in a series we have successfully completed in the last 18 months and welcome the team on board. I am also looking forward to completing other transactions in the future as we continue to grow our presence, locally, here in the Channel Islands.”
Pictured top: Cyril Swale, Head of Office in Guernsey for Grant Thornton, and Jeremy Ellis, Audit Partner of Saffery Champness GAT LLP.
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