Knipe Whiting Heath buys up rival with funding
An accountancy practice in Hereford has acquired another firm in the city using a £100,000 European Investment Bank (EIB) loan from Lloyds TSB Commercial.
Knipe Whiting Heath & Associates completed the purchase of Phillips & Co, an established firm of local accountants, growing its workforce from seven to 16.
Established in 1982, Knipe Whiting Heath & Associates specialises in property and non-residency tax services.
The firm now has offices located on Blackfriars Street and Widemarsh Street in Hereford, and said it intends to consolidate the team under one roof in the future.
An loan worth £100,000 from Lloyds TSB Commercial was provided through the EIB scheme, which provides financial support to UK-based SMEs with fewer than 250 employees.
Jane Humby, director at Knipe Whiting Heath & Associates, said: "The acquisition of Phillips & Co provides us with a group of experienced and reputable staff to join our hard-working team whilst enabling continuity for clients. We have advanced the technology used across the company, allowing the accountancy and tax services our clients receive to remain of the highest standard.
"Our offices will eventually merge into one larger site, and as we develop our business further we are committed to investing in local talent. We presently have five trainees and intend to expand this in the future."
