Fortus Expands with Charles Stewart & Co Acquisition
Deal News | Feb 25, 2025 | B Daily
Fortus, a rapidly growing independent business advisor, has further expanded its reach with the acquisition of Charles Stewart & Co, a Leeds-based accounting and business advisory firm. This strategic move is expected to enhance Fortus' compliance capabilities and solidify its market presence in the region. The deal follows a period of exceptional performance for Fortus, with revenues anticipated to surpass £10 million by 2026. Craig Herbert, the group chief executive, expressed enthusiasm for integrating the expertise of both teams to deliver enhanced value to Charles Stewart & Co's clients. Andrew Charles, the former owner of Charles Stewart & Co, has joined Fortus as a director, underscoring the acquisition's importance in providing his team with enriched opportunities and broader service offerings for clients. The acquisition reinforces Fortus' strategic positioning for scalable growth, with existing offices in major cities including London, Manchester, Leicester, Milton Keynes, Scarborough, and York.
Sectors
- Business Advisory
- Accountancy
Geography
- United Kingdom – The acquisition involves companies within the UK, and it specifically mentions cities such as Leeds, London, Manchester, as well as other UK regions where Fortus has offices.
Industry
- Business Advisory – The article discusses Fortus's acquisition of Charles Stewart & Co, both of which are involved in business advisory services, enhancing their capabilities in this industry.
- Accountancy – Charles Stewart & Co is described as a Leeds-based accountant and business advisory firm, making accountancy a relevant sector to this acquisition.
Financials
- 10 million – Fortus's forecasted revenues by 2026, indicative of the company's growth trajectory.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortus | Acquirer | Company | An independent business advisory firm with offices in London, Manchester, and other UK locations. |
| Charles Stewart & Co | Target | Company | A Leeds-based accountant and business advisory firm acquired by Fortus. |
| Craig Herbert | CEO | Person | Craig Herbert is the group chief executive of Fortus, overseeing the company's growth and acquisitions. |
| Andrew Charles | Former Owner / Director | Person | Former owner of Charles Stewart & Co who becomes a director at Fortus post-acquisition. |