South West accountancy and finance firm Old Mill has expanded with the acquisition of a 65-year-old family business in Somerset.
The addition of Yeovil-based Ivan Rendall & Co, which was established in 1956, brings around 500 accountancy and tax clients to Old Mill’s 17-strong owner-managed businesses team based in its office in the town.
Rendalls is one of Yeovil’s longest-established accountancy firms and services businesses of all sizes and across a wide range of sectors including agriculture, construction, manufacturing and retail.
It is currently run by founder Ivan’s youngest son Stephen, 61, who has been managing director since 2011.
Stephen said he chose to sell the firm to Old Mill, which employs nearly 300 people across its offices in Melksham, Wells, Yeovil and Exeter, because of its people-centric approach, broad range of expertise and excellent career development opportunities for staff.
Following the acquisition Stephen will take on an ambassador role to help ensure a smooth transition for his staff and clients before retiring from the business.
Old Mill head of accountancy Kevin Whitmarsh, pictured, said: “When you own and run a successful family firm like Rendalls, the decision to retire is not an easy one, as you are so invested in the business – both in terms of the clients and staff. You need to know that they will be as well looked after by the new business as they were with you.
“At Old Mill, we are known for our personal, professional, and friendly approach and our commitment to putting our clients’ needs at the heart of everything we do. This is a philosophy we share with Rendalls and is why we are confident that this acquisition is going to be so successful.”
Old Mill property and construction team head Stuart Grimster – who will lead the merger, aided by Stephen Rendall – added: “We are delighted to welcome Stephen and his team to Old Mill. I have no doubt they will seamlessly complement our existing owner managed businesses team, strengthening us to further support our growing client base here in Yeovil.”
Old Mill has a number of specialist sector teams, including rural, food and drink, owner-managed businesses, property and construction and wealth management, as well as experts across key service areas, including audit, tax, payroll, auto-enrolment, corporate finance, digital and financial planning.
Stephen Rendall, pictured, said: “Rendalls has enjoyed 65 years of success in Yeovil. We are proud of our long history and family-centred approach – it is what makes the business what it is – so it was important to find a buyer that understood that.
“We are therefore really proud to have been acquired by Old Mill – a brilliant local firm that shares our values. With Old Mill, we are confident that our business is in good hands; our clients will have access to a broader depth of services while our staff now have a wonderful place to continue their careers.”
Old Mill was formed following a buyout in 2006, although its roots go back to the 1920s.
