Synova Makes Strategic Minority Investment in Bishop Fleming
Deal News | Jun 19, 2025 | Proskauer Rose (UK) LLP
Proskauer, a leading international law firm, has advised private equity firm Synova on acquiring a minority stake in UK-based accountancy firm Bishop Fleming. With Synova's backing, Bishop Fleming aims to expand its footprint in the UK accountancy market, which remains highly fragmented, through strategic acquisitions targeting increased geographic reach and specialized services. The deal is pending regulatory approval. Proskauer's team, consisting of experienced professionals including Andrew Wingfield and specialists in tax, finance, and employment law, played a key role in facilitating this investment. Synova presently manages over £1.7 billion of capital across the UK, Ireland, and Europe.
Sectors
- Private Equity
- Accountancy
- Legal Services
Geography
- United Kingdom – Both Synova and Bishop Fleming are based in the UK, and the investment is aimed at expanding operations within the UK's fragmented accountancy market.
- Ireland – Synova manages capital in this region, indicating its operational reach.
- Continental Europe – Part of Synova's management of capital extends into this geography, highlighting its investment scope.
Industry
- Private Equity – The article is centered around Synova, a private equity firm, conducting a strategic investment.
- Accountancy – Bishop Fleming, the target company, operates in the accountancy sector, offering audit, tax, and advisory services.
- Legal Services – Proskauer Rose, the advisor in this transaction, is a law firm, making legal services a relevant industry.
Financials
- £1.7 billion – Capital managed by Synova in the UK, Ireland, and Continental Europe.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Synova | Bidding Company | Company | A private equity firm managing over £1.7 billion in capital across various regions. |
| Bishop Fleming | Target Company | Company | An award-winning UK accountancy firm focusing on audit, tax, and advisory services. |
| Proskauer Rose (UK) LLP | Legal Advisor | Company | An international law firm advising Synova in this transaction. |