Independent accountancy firm takes on Carnforth practice in fifth acquisition

An independent Lancashire accountancy practice has continued its growth with the acquisition of a firm in Carnforth.

 Brown & Co, which is based in Thornton-Cleveleys, has acquired BookSmart Accounting in a six-figure deal that will strengthen its footprint in north Lancashire.

The deal will secure the jobs of BookSmart’s four staff and enable Lydia Read-Potter, who founded the firm in 2019 and who is also a lecturer at Kendal College, to exit the business to focus on her work in education.

 It is the fifth acquisition in the past seven years for Brown & Co, which has previously acquired a number of smaller firms including Ingalls of Kendal in 2023.

Brown & Co was established in 2012 by Chris Brown who was formerly with ‘big four’ firm KPMG.

 In addition to accountancy and tax, it offers strategic business planning and advice to help companies raise funding, grow their business and improve efficiency through the use of technology.

Brown & Co currently employs 20 staff across its sites in Thornton-Cleveleys and Kendal.

 Lydia Read-Potter, managing director of BookSmart, said: “BookSmart Accounting has grown rapidly but I believe it now needs to be part of a bigger firm that can take it to the next level.

"Brown & Co were the obvious choice as they share the same ethos, prioritise client experience and are at the cutting edge of technology. 

“This change will also give the team more scope for progression and enable clients to benefit from the Brown & Co’s wealth of knowledge and experience whilst maintaining the bespoke focus on each business.

"I am proud and confident to be handing my business over to Chris and his team, and looking forward to taking on a new challenge in the education sector which has become my passion.”

 Chris Brown, managing director of Brown & Co, said: “Lydia has built a modern, tech-savvy accountancy practice with a knowledgeable and enthusiastic team.

"We are pleased to welcome them on board. We believe that the current market, in which many established accountancy firms are being swallowed up by big consolidators, offers real opportunities for strong independents like Brown & Co, which have the expertise but can also offer a pro-active, personal service.

 “The addition of BookSmart, which sits between our two existing sites, will strengthen our foothold in the region and take us one step closer to our goal to become the leading independent in Lancashire and Cumbria.”

Rob Kenmare of Rebbalt Advisory provided corporate finance to Brown & Co while Sharon Graves of Napthens Solicitors provided legal advice.