Mazuma, a leading accountancy firm, has launched MazAcq, a new mergers and acquisitions initiative to support founder-owned accountancy practices in the UK that are looking to either retire or reduce their management responsibilities.
Mazuma is excited to announce its acquisition of TI Accountancy, following the introduction of MazAcq, a strategic move into the M&A market for the prominent accountancy provider.
MazAcq’s launch follows recent research presented by Lucy Cohen, Mazuma’s Co-Founder and CEO, at Accountex London. Her findings highlighted that women in accountancy earn significantly less than their male counterparts, invest less, and retire with fewer resources. Female and mixed-gender founded firms also tend to receive lower valuations when they exit the market.
Lucy Cohen notes: “At Mazuma, we are dedicated to driving positive change in the industry and fostering an inclusive future for both small businesses and accounting practices. MazAcq is designed to tackle the underrepresentation of female-founded firms in the UK accounting M&A landscape. Our hyper-growth strategy this year aligns with our core value of supporting underserved small businesses, especially those with 10 or fewer employees. By empowering these firms, we aim to create meaningful change in the industry.”
MazAcq offers accountancy firms an option to sell all or part of their client fees to Mazuma, opening new avenues for growth and collaboration. The programme is available to founder-owned firms throughout the UK looking to retire or reduce management commitments.
Additionally, MazAcq enables accountants to join Mazuma’s team, gaining access to enhanced benefits and ensuring a seamless transition for clients. Last month, Mazuma’s acquisition of TI Accountancy, founded by Tracy Irwin in 2002, marked the programme’s first major milestone.
Emma Crawford-Falekaono, Chief Revenue Officer at Mazuma, comments: “We are excited to announce the successful acquisition of TI Accountancy through our MazAcq program. With 390 clients, this acquisition is a significant milestone in our growth strategy. The strong alignment of our values and our commitment to serving small businesses will enhance our ability to provide tailored accounting and technology solutions.”
Reflecting on the acquisition, Tracy Irwin said: “TI has grown from strength to strength since its inception and is well known as the champion of small businesses in Cumbria and beyond. I am deeply proud of our achievements, and unwavering commitment and dedication to giving our clients the best possible service over the past 23 years. Upon meeting with Lucy Cohen and her team it was clear that we shared the same vision, ethics and values. Stepping away from the business was a tough decision, but these synergies and the opportunity to be part of the MazAcq program mean that I know my team and customers are in great hands, whilst enabling me to focus on my own personal ambitions.”
For more information on partnering with Mazuma, please contact Emma Falekaono at [email protected].
