A HISTORIC York accountancy practice has been taken over by a Leeds and Sheffield firm as it seeks to grow its footprint in North Yorkshire.

Accountancy and advisory firm Hentons, which operates a team of more than 80 staff across offices in Leeds and Sheffield has acquired Forster Stott & Co.

The deal, for an undisclosed sum, will see the York team expanded to offer a broader range of advisory and tax services to existing and new clients.

The York office, based in Acomb, will be rebranded as Hentons.

Commenting on the deal Nadeem Ahmed, managing partner of Hentons, which is set to grow its turnover by 20 per cent, said: “Our partner-led entrepreneurial approach has supported the rapid growth of Hentons over the last couple of years.

“Business owners value the wide range of services they can access through our partners.

“We are now undertaking a period of expansion through organic growth and acquisition that will see us servicing a bigger footprint in the North.”

Forster Stott & Co has a heritage in York and Thirsk going back 110 years, and the merger with Hentons will preserve the values of the historical practice according to partners. The experienced team within Forster Stott & Co will be retained and expanded.

Steve Kilmartin, managing partner of Forster Stott & Co, said: “Both companies share a focus on providing an excellent partner-led service to clients.

“Hentons has made a tremendous investment in technology, and our clients will benefit enormously from the new digital platforms.

“It is good news for our clients, who can now also access advisory services ranging from expert tax advice to wealth management and corporate finance.”

Lloyds Bank Commercial Banking has provided Hentons with a multi-million pound funding package to support this acquisition and the firm’s strategic vision.

Lee Rycraft, relationship director at Lloyds Bank Commercial Banking, said: “Hentons is now on track to grow its turnover by more than 20 per cent and to create more jobs across its Leeds, Sheffield and York bases.

“Supporting firm’s like Hentons, which has an excellent reputation in the region and in its field, is central to our mission on helping Britain prosper.

“We’ve grown our net lending to SMEs by 32 per cent to make sure they have the necessary access to finance for growth.”