Wealth manager Evelyn Partners has acquired Ashcroft Partnership LLP, an accountancy firm of chartered accountants and tax specialists in the East of England which is based in central Cambridge.

Ashcroft offers a range of assurance, corporate finance, business and personal tax services.

With a team of 40 people, the firm has specialist sector expertise in areas including landed estates, farming and agriculture, real-estate, the leisure and hospitality sector and supporting technology entrepreneurs.

Evelyn Partners provides wealth management and professional services and was created following the merger of Tilney and Smith & Williamson in 2020. It has £53bn of assets under management, as of 31 December 2022, and ranks as the second largest UK wealth manager measured by EBITDA.

Chief professional services director of Evelyn Partners, Andrew Wilkes, said the firm was “delighted” to have reached an agreement to acquire Ashcroft.

“Dominic Anthony, Tom Gallop and Adrian Wilson have built a highly respected firm with a great client base and one which is a very complimentary fit with Evelyn Partners both in terms of expertise and culture,” Wilkes commented.

“Like Evelyn Partners, Ashcroft is committed to building productive and lasting relationships that add real, discernible value to clients. Strategically this acquisition will further develop our professional services presence in the East of England, supporting our ambition of being able to provide our range of professional services to businesses and private clients right across the UK.

“I look forward to welcoming the Ashcroft team to the partnership group, where their expertise and experience will be a great asset to us in developing our professional services offering in the East of England.”

Senior partner and founder of Ashcroft, Adrian Wilson, added: “We always had a fast-paced growth strategy and when we were approached by Evelyn Partners it was clear that their commitment to developing the professional services offering in the East of England aligned with our own ambitions.

“Its range and depth of resource have been key to the decision, as was ensuring our clients continue to receive the premium service and experience, they have come to expect.”

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