Houlihan Lokey Advises Synova

Houlihan Lokey is pleased to announce that Synova has agreed to make a minority investment in Bishop Fleming, a leading provider of audit, tax, accountancy, and advisory services, to support the next phase of its growth. Houlihan Lokey served as the exclusive buyside and financing advisor to Synova. The transaction is subject to regulatory clearances.

Founded in 1919, Bishop Fleming now serves more than 10,000 clients across a range of sectors with a particular focus on delivering recurring, compliance-driven audit and tax services to businesses and public sector organisations with turnovers of £50 million to £100 million.

Bishop Fleming operates from nine offices across South West England and the West Midlands and has delivered market-leading organic growth of 18% per year over the past three years.

The U.K. accountancy market remains highly fragmented, and Bishop Fleming’s technology platform and cultural differentiation place it in a unique position to consolidate the regional U.K. market. Synova will support Bishop Fleming’s vision to become one of the leading national firms in the U.K. through strategic acquisitions, targeting geographic reach and service specialism.

Houlihan Lokey served as the exclusive buyside and financing advisor to Synova in a deal that exemplifies the continued success of Houlihan Lokey’s dedicated global coverage of accountancy and professional services.

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