Nuvo Group buys Charnwood Accountants to deepen East Midlands reach

What's the deal? Nuvo Group, the accountancy and business services group backed by Northcote EquityDealroom has a profile for this one. Try Dealroom →, has acquired Charnwood Accountants and Business Advisors for an undisclosed sum. The Loughborough firm, led by partners Chris Hutton, Steve Lathwood, and Anna Brocklehurst, has served businesses across Leicestershire, the wider East Midlands, and nationally since 2004.

What changes? Charnwood keeps its name, team, and Loughborough office, trading as Charnwood Accountants, part of the Nuvo Group. Clients retain their existing relationships while gaining access to a wider range of services.

What's the endgame? The deal strengthens Nuvo's presence in the East Midlands and adds specialist tax and advisory expertise to a group that now spans more than 600 people across the UK.

The quotes: Steve Sharp, founder and chief executive officer of Nuvo Group, called Charnwood "a great practice, already well aligned across culture, a people first focus, their service offering and client base." Hutton said the firm had sought a group "that shared its values" while letting it "retain the personal approach that has always been at the heart of Charnwood."

The advisers: Bishopsgate Corporate FinanceDealroom has a profile for this one. Try Dealroom → advised the partners of Charnwood on the sale. Nuvo Group was advised by Nuvo Legal Limited.

The signal: The acquisition reflects the steady consolidation of the UK accountancy market, as private equity-backed groups roll up regional practices to build national scale while preserving local brands and client ties.

Read more: eastmidlandsbusinesslink.co.uk

Image credit: Matt Moloney