Grant Thornton Channel Islands has acquired the audit business of Saffery Champness in Guernsey. It will enable Grant Thornton to expand into the local business market as well as financial services sectors and outsourced finance functions.
This transaction serves to bolster Grant Thornton’s presence in the Channel Islands and supports the company’s growth strategy. In the last ten years Grant Thornton has grown significantly and now has a team of one hundred and sixty-five in the Channel Islands. Six staff from Saffery Champness will join Grant Thornton, including Jeremy Ellis who joins as Director in Guernsey.
The transaction will have no impact on the rest of the business of Saffery Champness in Guernsey, nor on the wider audit business of Saffery Champness in the UK.
Cyril Swale, Head of Office in Guernsey for Grant Thornton, said: “We are delighted to welcome the audit team from Saffery Champness on board and believe this is a very good move for all parties. There are significant similarities between our organisations in terms of corporate values and a mutual dedication to client service, so becoming part of Grant Thornton is a natural next step for the team.”
Jeremy Ellis, Audit Partner of Saffery Champness GAT LLP, said: “This is a great opportunity for me and the team to continue to provide excellent client service as part of Grant Thornton. Both I and the team look forward to the opportunities that lie ahead.”
Nick Batiste, Managing Director of Saffery Champness Registered Fiduciaries in Guernsey, added: “After a wider strategic review and very careful consideration, we have decided to sharpen our focus on our core business areas in Guernsey to ensure we are best placed for the future. We will of course miss Jeremy and his team as colleagues very much, but we’re pleased that they have a bright future as part of Grant Thornton in the Channel Islands.”
Adam Budworth, Managing Director of Grant Thornton Limited, said: “I am delighted with this acquisition, the latest in a series we have successfully completed in the last eighteen months and welcome the team on board. I am also looking forward to completing other transactions in the future as we continue to grow our presence, locally, here in the Channel Islands.”