Posted: 12 / 03 / 2024

One of the fastest-growing business advisory firms in the UK, Sedulo Group, has announced its intention to expand into Birmingham with the acquisition of R&D tax advisory firm, BTA Services.

Sedulo, a mid-tier advisory firm, at number 70 in the Accountancy Top 100, currently operates in Manchester, London, Leeds and Liverpool with 200 advisors. 

They recently announced record annual results of almost £15m revenue, with a plan to double in size over the next three years, and new city centre regions are seen as the core of that strategy.

BTA Services are an R&D tax credit specialist firm in the Midlands area who have completed over 1,100 R&D claims with in excess of £10m of revenue across almost 400 clients. They were founded in 2018 by Eric McClenaghan who will stay on as an advisor to the business.

The acquisition allows the Sedulo Group to build from this base, and they are already recruiting consultants with Financial Planning and Banking expertise; more key hires will be announced imminently.

The search has begun for a permanent home in the centre of Birmingham, featuring a leisure space/ bar, a gymnasium and themed meeting rooms in line with Sedulo’s ethos, which once had their space voted one the best offices in the UK. 

On the acquisition, founder Paul Cheetham-Karcz said:

“We have been looking for an acquisition for a while that allows us to enter a new territory. BTA Services gives us a perfect foothold into the Birmingham area, and we are already on a recruitment mission to add to the existing members.

“Over the past two years, we have substantially increased the sophistication of our R&D offering, with the recruitment of Josh Perry and Andy Nixon from top six firms leading the team. The landscape has become more difficult to navigate, but we have developed our offering. As a result, we are in a perfect position to acquire strong firms like BTA Services and add some additional expertise.

“We look forward to the next 12 months, which should see us edge towards £20m in revenue.”

Paul Cheetham-Karcz | Founder and Managing Partner at Sedulo

Founder of BTA Services, Eric McClenaghan, added:

“We are delighted that BTA have become part of the Sedulo family, where all of our staff have fantastic career opportunities and can positively contribute to the breadth and depth of the R&D team at Sedulo. 

BTA clients will continue to be looked after by our familiar team and will now have a range of additional services available to them.”

Eric McClenaghan | Founder of BTA Services