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Benchmark International advises on the sale of Clever Accounts

Posted on April 26, 2013 By

Benchmark International is pleased to announce the acquisition of Clever Accounts Limited by John Hoskin of Milestone Partners Limited.

In this instance Benchmark International worked on behalf of the acquirer in order to identify an appropriate acquisition opportunity which adhered to Mr Hoskin’s acquisition criteria.

Following instruction in September 2012, Benchmark’s research team sought to identify a number of opportunities to present to our client. A thorough research process identified 8 opportunities which met our client’s acquisition criteria and following 6 meetings with several parties the opportunity to acquire the Yorkshire based firm, Clever Accounts, represented the best fit. Once the company was identified an offer was submitted and accepted.

Clever Accounts, which was founded in 2008, provides access to a free online accounting system, overseen by a dedicated accountant, allowing clients to manage their finances easily. The company takes care of all annual reporting, tax compliance, VAT returns, and payroll, for a variety of small businesses and individuals, as well as providing on-going tax advice and business support.

Mr Mollan, Clever Accounts founder, said: "This investment is a massive vote of confidence in Clever Accounts and will enable us to expand. We are planning to increase the levels of service and functionality available to our clients, substantially expand our customer base and increase our staffing levels accordingly.”

Roger Forshaw, Transaction Leader on the deal, commented: “It’s fantastic to be able to assist Milestone in achieving a significant step towards its strategic objectives and seeing UK SMEs with a desire to take on ambitious growth plans. I have no doubts that this acquisition will be a success based on the complementary client bases and shared ethos of customer service being key, in what is a very competitive environment. I would like to wish both parties all the best for the future and will actively be keeping an eye on Milestone’s continued and impressive growth over the coming years”.

The deal was agreed in January 2013 and completed in early April.

Benchmark International wishes the very best to all the parties involved.

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