Oxfordshire-based Tibbetts Group Limited (Tibbetts) have appointed top 100 accountancy practice Shaw Gibbs as their annual auditors.
The Tibbetts Group distributes high quality engineered components for automotive, aerospace, construction and industrial sectors, and the family-run group in its various iterations has been in existence in Oxfordshire for 35 years.
The decision to move the audit from one of the Big 4 accountancy firms to a local adviser was taken by Managing Director Jonathan Tibbetts after the Shaw Gibbs Corporate Finance team, led by Clifford Brown, advised the Tibbetts Group on the acquisition of a family-owned manufacturing company based in the Midlands. The acquisition of Powell Gee & Co Limited (Powell Gee), a manufacturer and distributor of fasteners into the UK construction sector supports the Tibbetts Group strategy to grow a diversified business across a range of products, sectors and geographies. The combined business will generate annual sales of more than £50m.
Jonathan Tibbetts’s comments on the move:
The driver for changing provider was us wanting a local adviser who could provide a level of care and personal attention that we have not entirely found to date. We wanted a firm who could deliver the specialist support we require to help us continue our growth through further acquisitions as well as to carry out annual compliance and planning. We have known of Shaw Gibbs for some time and recently their Corporate Finance team has provided valuable acquisition support. We are also pleased that Shaw Gibbs are members of the DFK International Association which opens up international expansion and in-country support where necessary.
Steve Neal, Head of Audit for Shaw Gibbs adds:
We are delighted to have such a high-profile business as a new client. The Tibbetts Group fits well with the current client-demographic we support who are predominately leading owner-managed businesses. The audit team are well placed to not only deliver the high quality compliance the Tibbetts Group require but also assist in the company’s exciting strategic plans for the future. The team and I at Shaw Gibbs are very much looking forward to working with Jonathan and the Tibbetts Group
To read more about Tibbetts and how their process of planned growth has helped the family business grow into an impressive trade group, please see their Business Focus publication here.
