Waterland Private Equity’s Post

Private equity is coming for professional service firms. Apparently billing hours isn't such a bad business model after all. Especially if ever changing rules and regulations allow you to keep billing those hours. And, where there's a 'guarantee to make money', there's an interest from private equity. ▶ In the US, Hellmann & Friedman acquired a majority stake of 51% in accounting firm Baker Tilly. ▶ In the Netherlands, it's most likely that Waterland holds a majority stake in accounting firm de Jong & Laan (for which they allegedly paid 6.5 times EBITDA). ▶ A merger of three other Dutch accounting firms is backed by Avendon. Not only accounting firms are acquired. Private equity is entering the legal industry as well. ▶ In the UK, Sun Capital owns law firm Fletcher Solicitors. ▶ Dutch law firms are currently restricted territory for outside money. However, this may change if the European Court of Justice rules in favor of a Germen lawyer / entrepreneur who acquired a 51% stake in the firm he founded. It seems private equity will play a significant role in shaping the future professional services landscape.

Scotland’s Top 100 private companies have reported total annual revenue of nearly £40 billion, representing average growth of 26% over the last year, a report by Grant Thornton published today by The Herald reveals. Grant Thornton UK LLP #top100privatecompanies

National Business Review is running its annual series The Accountants, detailing the challenges and opportunities faced by New Zealand’s leading accounting firms. So what’s the news from our network and its mid-tier cohorts? For our part, national chair David Searle is seeing an increase in insolvency and due diligence work across the network. Clients who aren’t as reliant on borrowing money are engaging in acquisition. “I think they're confident that we're nearly at the point where the market is going to change so they're starting to invest... “We do expect the workflows to be pretty strong over the next year... we've got some really successful clients that will have ridden through a lot of cycles and will ride through this downturn or this economic cycle we’re in.” (PAYWALLED): https://lnkd.in/gZvCvjFK #accountantsnz #NBR #theaccountants #nowfortomorrow

More big changes on the way for UK R&D as the Autumn Statement announced that the current SME and RDEC schemes will merge in to one, similar to the current RDEC scheme. Is it still worth claiming? Yes. From 1 April 2024 claiming UK R&D tax relief can offer a cash payment of up to £16.20 for every £100 under the new merged scheme, or up to £26.97 for R&D intensive SMEs (the rates are more generous for earlier expenditure). Mind out though, for accounting periods commencing on or after 1 April 2024 R&D outsourced by the claimant company to external contractors and workers will need to be ‘onshored’ to the UK unless the work could not have been performed in the UK e.g. if environmental conditions not present in the UK were required. The requirement to notify HMRC of the intention to claim, within 6 months of the accounting period end will also take effect shortly. Talk to us now to plan for these changes in advance and take them in your stride. If you are advancing science or technology UK R&D tax relief is here for you and we will help you make the most of it. For more Budget analysis visit our Autumn Statement Hub https://lnkd.in/eSq7n7kG #autumnstatement2023 #budget #blickrothenberg #randd #researchanddevelopment #randdtaxcredits

In her latest blog, Kreston Global Chief Executive Liza Robbins explores the drivers, challenges and opportunities behind the growing interest in private equity in accountancy. Read the full blog post here: #PrivateEquity #Accountancy #IndustryTrends #KrestonGlobal

Read this excellent guide on choosing your family office's location, providing practical information on jurisdictional regulatory and tax frameworks, quality of infrastructure and access to skilled professional, among other key attributes. https://lnkd.in/gvZPqaBy

Software vendors, your annual reminder. Dear Software Vendors When marketing your products using this list, consider the possibility that 'leading organisations' will always lead despite and not due to your software. Alan

Did you know that Grant Thornton UK LLP have a number of On Demand CPD Technical Update Webinars? Our webinars bring you together with our experienced experts for technical updates on regulatory changes; featuring a presentation from our speakers and a Q&A. As well as keeping you informed, watching a webinar will also earn you one CPD point! https://lnkd.in/egUzVWym #cpd #grantthornton #regulatorychanges #accountancy #finance

Corporate structures established in renowned financial hubs like the Isle of Man offer a range of benefits – from mitigating taxes to facilitating succession planning. Explore the advantages that businesses can harness: https://lnkd.in/eifwc89t #btiom #corporateservices #companyformation #companyregistration #wealthmangement #isleofman

[Ranking 🏆] Hoche Avocats is ranked among the Best Law Firms in France in Private-Equity/LBO according to Leaders League Décideurs Magazine ranking 2023. Full rankings : ➡️ Private Equity – Mid-cap LBO transactions  - Leading - (Jean-Luc BLEIN , Didier Fornoni, Marie Peyréga, partners). ➡️ Private Equity – Advising management teams - Excellent - (Jean-Luc BLEIN, Didier Fornoni, Marie Peyréga, partners). ➡️ Tax Law – LBO Tax - Excellent -Eric Quentin, Christophe Lefèvre, Mathilde LE ROY, partners). ➡️LBO transactions in difficulty - Highly Recommended- (Hadrien de Lauriston, partner). 🙏 We are very grateful for these awards! Many thanks to our teams, to our clients, and Décideurs Magazine! #Ranking #PrivateEquity #Tax #LBO