Grant Thornton Channel Islands has acquired the chartered accountancy firm Price Bailey in Guernsey, providing significant opportunities for further growth. 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 140 in the Channel Islands. The acquisition has been welcomed by Price Bailey and Grant Thornton, given the similarities in corporate values and the dedication to client service shared by the two businesses.
Cyril Swale, Head of Office in Guernsey said: “We are delighted to welcome the Price Bailey team on board and believe this is a very good move for all parties.”
All five Price Bailey staff will join Grant Thornton and bring with them well-established relationships with local businesses. The acquisition will provide Grant Thornton with immediate access to their audit experience and client base. As a result of the acquisition, some of the back-office work currently done by Price Bailey in the UK will now be carried out in Guernsey by Grant Thornton.
Kirsty Warner is joining Grant Thornton as Director of Business Advisory after working at Price Bailey for 16 years where she was the managing partner in Guernsey. She said: “This is a huge opportunity and I am looking forward to working with a larger group. It has come at the right time; the additional support at Grant Thornton will greatly assist us as we work with new and existing clients.”