Private equity firm Synova invests in Bishop Fleming for growth strategy

From Yahoo Finance: 2025-06-20 11:22:00

Private equity firm Synova has acquired a minority stake in Bishop Fleming to support the UK-based accountancy firm’s growth plans. The investment aims to position Bishop Fleming among the top national accountancy firms in the UK and awaits regulatory approval. The firm’s Better Growth strategy focuses on sustainable expansion, introducing new capabilities and expertise.

Bishop Fleming’s managing partner, Andrew Sandiford, expressed excitement about the partnership with Synova, highlighting the firm’s unique approach that allows them to maintain control while accelerating growth. The investment will enable strategic M&A activity to bolster Bishop Fleming’s presence on the national stage. The firm is committed to doubling its business size and workforce through sustainable organic growth.

As part of its growth strategy, Bishop Fleming has invested in the Workday ERP platform, becoming only the second accountancy firm to do so. The firm reported a 15% fee growth in 2025, totaling over £48m, and operates nine offices across the South-West of England and West Midlands. Recent milestones include opening a new office in Birmingham and expanding in The Midlands.

The transaction was facilitated with guidance from financial services firm Alantra, along with advisory support from PwC, Strategy&, and Addleshaw Goddard. This strategic move aligns with Bishop Fleming’s vision for sustainable growth and expansion. The firm’s focus on organic growth and investment in new capabilities demonstrates its commitment to becoming a leading player in the UK’s national accountancy sector.

Read more: Bishop Fleming secures minority investment from Synova