Houlihan Lokey Advises Cooper Parry

Transaction: Cooper Parry - Waterland Private Equity - Lee Equity

Houlihan Lokey is pleased to announce that Cooper Parry (CP), a leading provider of accounting and business advisory services to corporate SME and individual clients in the United Kingdom, announced it received a majority investment from funds managed by Lee Equity Partners, LLC (Lee Equity), succeeding Waterland Private Equity (Waterland) as CP’s capital partner. The transaction is subject to regulatory clearances.

CP, a fast-growing and disruptive firm of accountants and business advisors, is delighted to announce a ground-breaking investment partnership with New York-based Lee Equity.

Following two years of transformational growth, Lee Equity will succeed Waterland as CP’s capital partner. Waterland has supported the business in its ambition to become a leading accountancy firm in the U.K. market by helping CP broaden its capabilities and expand its presence across the country.

The firm has successfully completed and integrated 11 transactions in two years, including the acquisition of Haines Watts London and its associated audit and advisory businesses across the across the South-East, Thames Valley and the Midlands, UHY Manchester, London-based Cloud Orca, the fast-growing Salesforce consultancy, and MacroFin, the award-winning NetSuite Alliance Partner.

This M&A activity, coupled with a highly differentiated client experience and strong business development, has fuelled market-leading growth. Turnover has grown 4x over the past two years to £180 million, with sustainable organic growth exceeding 24% annually over the prior three years (FY21–FY24).

The new strategic partnership aims to build on unprecedented organic growth and acquisitions to further accelerate CP’s creation of the U.K.’s next-gen professional services group. The transaction is expected to close in the first half of 2025 subject to regulatory approvals.

Houlihan Lokey served as the exclusive financial advisor to the CP shareholders and Waterland in a deal that exemplifies the continued success of Houlihan Lokey’s dedicated global coverage of accountancy and professional services.

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