Last Updated on: 8th November 2024, 05:12 am
Mazuma, the largest female-founded accounting firm in the UK, has launched MazAcq, a mergers and acquisitions model designed to help founder-owned accounting firms across the UK retire or ease their management load.
Mazuma has proudly completed the acquisition of TI Accountancy as part of its newly introduced MazAcq programme, a move into the M&A market designed to support Mazuma’s growth in the UK accountancy sector.
The creation of MazAcq follows insights shared by Lucy Cohen, Co-Founder and CEO of Mazuma, during her presentation at Accountex London. Her research highlights the challenges women in accounting face, including lower earnings, smaller investments, and fewer resources upon retirement. Female and mixed-gender founded firms also frequently experience lower exit valuations.
Lucy Cohen remarks: “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.”
Through MazAcq, Mazuma offers founder-owned accounting practices the opportunity to sell either part or all of their client fees, encouraging growth and collaboration. This initiative is open to UK-based firms interested in scaling down or preparing for retirement.
MazAcq also provides an option for accountants to join the Mazuma team, with benefits that ensure clients continue receiving the same high standards of service. In October, Mazuma acquired TI Accountancy, originally founded by Tracy Irwin in 2002, furthering its M&A strategy.
Emma Crawford-Falekaono, Chief Revenue Officer at Mazuma, states: “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.”
Tracy Irwin reflects on the acquisition: “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 further details on working with Mazuma, please contact Emma Falekaono at emma.cf@mazumamoney.co.uk.
