Macdonald Henderson has advised Opulus in its acquisition of George + Co, a firm of Chartered Tax Advisers and Accountants located in Edinburgh’s West End, to further expand its unique Chief Financial Officer (CFO) solutions offering throughout Scotland.

The acquisition is part of Opulus’s strategic plan to extend its geographic footprint throughout Scotland, and it marks the company’s entry into the east of Scotland business services market.

George + Co, which has a turnover exceeding £600,000, will continue to operate under its own name and serve clients from its Rutland Street office.

Linda Leaworthy, director at George + Co, said: “We are a highly experienced team and pride ourselves on offering a professional, efficient service in all aspects of taxation and accountancy – an offering that will only be enhanced by our joining the expanding Opulus group and giving us access to a broader range of business advisory expertise.”

The acquisition marks the latest development of the growth plan set out by Opulus following its announcement in February that it had joined forces with Wylie & Bisset Accountants and Business Advisers to create a “hub and spoke” model of business advisory services.

Donald McKinnon, managing partner at Wylie & Bisset, added: “As full-service accountants and business advisers, we operate as a ‘hub’ to provide a range of service lines and support to a network of regional ‘spoke’ accountancy practices within the wider Opulus group for the benefit of our clients. We are delighted to welcome George + Co to the group.”

Opulus is a joint venture formed between founder Matthew Garstang and investment and advisory partnership N4 Partners to provide a range of business services to help SMEs grow.

SME Capital has provided a £10 million growth capital facility to support further expansion plans of the enlarged group.

About Macdonald Henderson, Mr Matthew Garstang, CEO at Opulus commented:

“Macdonald Henderson have supported Opulus Financial from the start, providing expert legal advice and transactional support.  Their multi-disciplinary team, led by David (Beveridge) and Ryan (Macready), worked with us throughout this transaction providing corporate, employment and property advice to enable us to successfully complete another acquisition”.

We are delighted to have advised Opulus on this further transaction (the sixth on which MH has advised) as the group expands its accountancy, business advisory,  legal, HR and IT offerings to complete its holistic range of CFO solutions throughout Scotland. We wish all stakeholders in the combined business every success for the future.