Member Article

ClearSky eyes pub growth after toasting takeover

SME support provider ClearSky Business is targeting further growth in the pub sector after acquiring the accountancy arm of Bridgewood Financial Solutions.

The deal follows a two-year partnership between the firms, which has helped Warrington and Middleton-based ClearSky to grow its portfolio of publican and pub company clients to more than 300.

Bridgewood’s existing clients, along with all pub-focused accountancy staff at the Nottingham firm, are being transferred across and all pub accountancy services will now be delivered by ClearSky.

Derek Kelly, managing director at ClearSky’s parent group Optionis, said: “This is a logical and exciting acquisition for us.

“The arrangement with Bridgewood has worked well since 2012, but we both decided that the best way to enhance our offering would be to operate through one entity.

“ClearSky is committed to the pub sector, and this deal will create opportunities for efficiencies and improvements.

“It will also make life simpler for our clients, who previously dealt with both Bridgewood and ClearSky staff.

“Bridgewood employees transferring to ClearSky will have access to additional training and support, as well as the development opportunities that come from being part of a larger company.”

Bridgewood managing director Robin Tarling said the two firms would continue to work together to support clients in financial difficulty.

He added: “This is a good deal for us, our clients, our staff and ClearSky.

“While no longer involved in accountancy services, we will continue to focus on providing high-quality debt advice and solutions to pub clients, which is our core strength.

“Our accountancy clients will experience no change in how the service is provided, other than the name change from Bridgewood to ClearSky. Through ClearSky Business they will also have access to a wider range of services, such as payroll, tax, human resources (HR) and employment law.”

The acquisition was completed for an undisclosed sum. Due diligence was conducted internally.

This was posted in Bdaily's Members' News section by Simon Malia .