LB Group is based in Colchester, with offices in London, Ipswich and Chelmsford. The business provides accountancy, taxation, outsourced CFO and business advisory and compliance services to start-ups, SMEs, corporates and private individuals.
DWF's corporate team advised Sovereign on their investment, led by corporate partner, Alasdair Outhwaite and supported by senior associate, Ciara Healy.
Commenting on the deal, Alasdair Outhwaite said: "We are pleased to support Sovereign on this investment and wish the combined team every success with the future plans for LB Group."
Alex Hay, Partner at Sovereign, said: “We are delighted to be working with LB Group. It is a well-managed business with a strong reputation for providing high-quality accountancy and business advice services. We believe that LB is very well-positioned to consolidate the fragmented accountancy sector, initially in the East and South East of England. With our investment and support we look forward to expanding its geographic presence, client base and technology offering.”
Paul Mustoe, Director, LB Group, said: “We are excited to be partnering with Sovereign. This investment will enable us to accelerate our growth plans, expand our services and deliver even greater value to our clients. Sovereign's track record of working with high-growth, tech-enabled businesses and its expertise in the financial services sector make it the ideal partner for us.”
Chris Annis, Director, LB Group, said: “We are delighted to have secured this investment from Sovereign. We share their vision for the future of the accountancy and business advice sector, and we believe this partnership will help us cement our position as the market leader in the East and South East of England.”