Sedulo is a national mid-tier advisory firm, ranked number 57 in the Accountancy Top 100, with offices in Manchester, Leeds, Liverpool, Birmingham, London and Dubai. Following the acquisition, the group employs almost 250 advisors.

The business recently reported record annual revenues approaching £25 million and has set out plans to double in size over the next four years. Expanding into new regions is a core part of that growth strategy, with Scotland representing a significant next step.

Smith & Wallace are an accountancy practice based out of Kilmarnock with growing revenues in excess of £1 million, led by Andrew McMorland and Martin Farrell, who will continue leading the business. They will be joined by Logan Rowan, who leads Sedulo’s Deal Advisory team, having joined two years ago from KPMG.

The acquisition provides Sedulo with a strong platform from which to build its Scottish presence, including the opening of a new office in the heart of Glasgow. From this base, Sedulo will extend its full service advisory offering in the region, including audit, tax reliefs and incentives, debt advisory, financial planning and deal advisory.

The expansion follows recent senior hires in Scotland, including Dean Thomson in the debt advisory team, with further recruitment planned across multiple disciplines.

On the acquisition, Sedulo founder Paul Cheetham-Karcz, said: “We set a strategy three years ago at £15m revenue, that along with doubling in size, we wanted to become a national mid-tier firm.

“This meant that Scotland was always in the plan, as was Birmingham which we opened two years ago, and now we look to bed the latest acquisition in before looking at a further UK office in 2027.

“Getting the right partners in Scotland was vital and with Martin and Andrew we are sure we have this; an ambitious, fast-growing, dynamic firm, led by two people we can trust.

“In Logan Rowan, we have someone from the area that we can internally rely on, with networks and knowledge of the local market. We have already leveraged this acquisition to open a further office in Glasgow and analyse additional targets in the region.”

Mr McMorland and Mr Farrell added: “The decision to join forces with Sedulo has been carefully considered and we prioritised finding the right cultural and strategic fit for our clients and our team. Our firms align in putting clients and people first, which is central to both our businesses.

“The additional services and resources Sedulo offer will benefit both our clients and team while allowing us to remain face-to-face with our existing customers. Finding the right partner was crucial, and we are delighted to become part of Sedulo.”