Leading accountancy practice backed by Palatine Private Equity secures growth funding
Mid-market private equity investor, Palatine Private Equity acquired a significant minority shareholding in accountancy firm, BK Plus. The leading accountancy business has ambitious growth plans and subsequently secured a unique debt funding package from Shawbrook to fast-track their growth.
At a glance
Private equity firm Palatine has acquired a significant minority shareholding in BK Plus, a Midlands-headquartered accountancy firm which employs almost 300 people.
David Baldwin and Shaun Knight, former directors of the accountancy group Baldwins, founded BK Plus in February 2021. In this time, the firm has established a strong presence having completed 12 acquisitions, with more than10 offices and approaching 300 staff. Initially focusing on its roots in the Midlands, BK Plus has recently extended its footprint across the UK, with offices in locations including Newcastle-Upon-Tyne, Halifax, Oldham and Stoke.
Shawbrook’s unique debt funding package will support the businesses’ ongoing acquisitive growth strategy.
Deepak and the team showed an ability to understand our business and our needs from the outset. Their speed of response and the ability to structure a dynamic and tailored package and of a quantum to meet our growth aspirations set them apart from the more traditional high street Banks.
Richard Thomas, Partner, Palatine Private Equity, said:
“We are delighted to be backing such an experienced and ambitious team, particularly in terms of their ability to scale an accountancy group via acquisition and organic growth.”
“It’s been a pleasure to work with the Shawbrook team who’ve once again demonstrated their pragmatic approach and expertise to deliver a bespoke solution that meets the needs of the business.”
Deepak Parekh, Senior Director with Shawbrook’s Financial Sponsors team, said:
“It’s been great to work with the Palatine team again and strengthen our relationship further. We’re also proud to support a highly reputable and experienced management team led by Shaun Knight and looking forward to working with them to see the business through its next exciting period of growth.”
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