Cowgill Holloway LLP Announces Demerger
14th November 2012
North West leading accountants and business advisers, Cowgill Holloway LLP, has formally separated from Cowgill Holloway Small Business Unit (SBU) by way of a demerger. The Unit will now trade as, CLC Accountants and Business Advisors.
The respective Partners believe that the two businesses have reached a position where they are best placed to deliver further value to clients as separate companies.
Founded by Peter Cowgill and Adrian Westwell in 1983, Cowgill Holloway currently employs approximately 120 people across its offices in the North West region. The SBU was launched in 1995 under the Cowgill Holloway umbrella, to allow clear strategies for both firms with the SBU’s primary focus being to provide advice to the SME marketplace, including; sole traders, partnerships and smaller limited companies.
In response to market demands over the 29 years Cowgill Holloway has expanded its range of expertise and strengthened its service line offerings in areas such as corporate finance, business recovery, wealth management, tax and outsourcing. The firm’s knowledge in sectors such as healthcare, not-for-profit, retail, property and business support services has also been extremely beneficial in its development.
The Small Business Unit has also seen impressive growth and has now relocated to larger newly refurbished premises at 32-36 Chorley New Road, Bolton. CLC will continue to provide high quality general practice advice predominantly to the SME market, maintaining strong links with the restaurant and licensed trade sectors. More recently CLC has developed relationships with a significant number of legal and medical practices and these are considered niche areas for future expansion.
As a result of the significant progress made by both businesses, the two are now ready to operate independently.
The Partners of both firms’ believe that the separation will deliver further value for clients by allowing the two to pursue their strategies independently with greater flexibility over management, resources, opportunities and to ultimately maximise their performance.
Paul Stansfield, Cowgill Holloway’s Managing Partner, said: “The demerger was designed to build value for clients by giving both companies the freedom, focus and flexibility to develop and pursue the approach that was right for each of them. We wish CLC Accountants and Business Advisors every success in the future.”
Both firms will continue to enjoy a strong healthy business relationship whilst pursuing separate ventures to assist with their individual growth plans.
Phil Lee, CLC Accountants and Business Advisors, Managing Partner commented: “This transaction is a significant step forward in our strategy; it allows us to concentrate our resources where we can add the most value whilst developing and growing our practice in the SME sector.”
The information was correct at time of publishing but may now be out of date.