West Country Accountants and Financial Planners Old Mill have acquired specialist farm accountancy practice Farm Accounts Limited.
Farm Accounts was formed in 1942 and looks after the accounts and tax affairs of over 300 farming businesses across the South West from its office in Newton Abbot. The firm will join Old Mill’s Rural Services team which after the merger will number over 100 staff dedicated to farming and rural businesses from the firm’s offices in Exeter, Melksham, Wells and Yeovil.
Peter Dymond, a director at Farm Accounts who will be joining Old Mill as a Director commented: “In these increasingly complex times it has become clear to us that to offer the best service to our clients we need to make available a wider range of services, such as specialist tax advice, which Old Mill will enable us to provide”.
“The team are excited about the change and the opportunities this will hopefully offer for our clients, some of whom we have acted for over 70 years.”
Ian Carlson, Old Mill’s Managing Director added: “Both of our firms have extensive experience of looking after farming businesses across the South West and the way that our two firms’ rural practices complement one another was obvious once negotiations began and we started to learn more about the clients and staff of Farm Accounts.”
“As a business we have enjoyed excellent organic growth in the South West over the last few years, and we are delighted to be able to accelerate this growth with the acquisition of Farm Accounts. I am extremely confident that the Farm Accounts clients and staff will enjoy significant benefits as a result of this acquisition.”
The Farm Accounts team will relocate to join Old Mill’s Exeter office later this week.