Gravita Expands with Haines Watts Western Acquisition
Deal News | Feb 10, 2025 | Tenzing Private Equity
Gravita, a portfolio company of Tenzing Private Equity, has acquired Haines Watts Western, an accountancy services firm. This acquisition enhances Gravita's capabilities in offering tech-enabled accountancy services in Bristol and Exeter, thereby expanding its reach in the UK. Gravita leverages intuitive technology to serve over 8,000 clients nationwide, particularly in growing sectors such as tech, property, and renewable energy. The acquisition aligns with Gravita's strategy to reinforce its market position and provide cutting-edge service to entrepreneurial businesses, especially in the dynamic economies of South West England. The deal marks the seventh transaction Tenzing has supported Gravita with since 2022, growing the company's headcount to over 500 full-time equivalents. Gravita's consolidation strategy is supported by Osborne Clarke, a law firm known for its expertise in tech, energy, and life sciences.
Sectors
- Accounting Services
- Private Equity
- Technology
Geography
- United Kingdom – The acquisition involves a UK-based expansion of Gravita's services, with a focus on the Bristol and Exeter regions.
Industry
- Accounting Services – The acquisition involves companies in the accounting industry, enhancing Gravita's ability to provide accountancy services.
- Private Equity – Tenzing Private Equity's role in supporting the acquisition highlights its involvement in financing and guiding strategic business expansions.
- Technology – Gravita leverages technology to provide innovative accountancy solutions, an integral part of their growth and service strategy.
Financials
- 500 FTE – Gravita's headcount post-acquisition is over 500 full-time equivalents.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gravita | Acquirer | Company | A tech-enabled accountancy services firm and a portfolio company of Tenzing Private Equity. |
| Haines Watts Western | Target Company | Company | An accountancy services firm acquired by Gravita. |
| Tenzing Private Equity | Private Equity Backer | Company | The private equity firm supporting Gravita's acquisition expansion strategy. |
| Osborne Clarke | Legal Advisor | Company | A law firm that advised Gravita on the acquisition of Haines Watts Western. |
| Caroline Plumb OBE | CEO | Person | CEO of Gravita, leading the company's strategic expansion efforts. |
| Maria Tozzi Spadoni | Investment Team Member | Person | Part of the Investment Team at Tenzing, involved in supporting Gravita's acquisitions. |
| Matt Bracher | Lead Partner, Gravita South West | Person | Lead Partner for the South West region at Gravita post-acquisition. |