Acquisition expands iMultiply’s public practice accountancy team

Recruiter says it’s on track to reach £2 million turnover this year

Edinburgh and Glasgow-based financial services recruiter iMultiply has acquired Allen Accountancy Recruitment, a specialist public practice accounting recruitment firm, for an undisclosed sum.
iMultiply’s expanded public practice division, which places accounting and finance staff from across the UK and internationally with companies in the Central Belt, will now be led by Allen Accountancy Recruitment Managing Director Alex Allen from its Glasgow office.
iMultiply CEO Kirsty Mackenzie said: “Alex brings fantastic depth of experience to the role, with more than a decade’s experience in serving accountancy firms like BDO and Johnston Carmichael.
“There’s also an extremely good cultural fit between the two companies: we’re both committed to really understanding our candidates, to furthering their careers, and to delivering excellent service for the organisations who trust us to find the very best match for their needs and culture.”
Mackenzie says the time is right to expand iMultiply’s investment in its accountancy practice division, which serves a market with recognised staff shortages. Following the downturn in 2008, a slowdown in hiring meant fewer trainees were brought on by public practices, leading to the current shortage in skilled staff.
Alex Allen will focus on servicing candidates and firms looking for talent in areas including corporate tax, insolvency, corporate recovery, audit and accounts preparation. Allen says companies can improve their prospects of securing sought-after candidates by focusing on and being able to communicate what makes their organisation different from others in their field.
He said: “It’s also important for practice organisations to keep pace with market salary rates, and to consider what they can offer in areas like relocation packages, flexible hours, and funding for personal and career development.
“It’s useful, too, if accountancy practices can keep an open mind about international candidates: they’re often overlooked but can frequently become an extremely valuable resource and successful employees in an organisation.”
Allen added that iMultiply’s network includes candidates not just in Scotland, but also across the UK, Ireland, and internationally, giving its client companies access to a wide range of qualified accountants and financial staff.
Growth in interim division
iMultiply, which now employs 16 across two offices, says it’s on track to reach its £2 million turnover this year, and is also growing its interim division. Last month the company launched its Agile FD service, which gives small and medium-size companies access to experienced financial directors for interim and project work.
Mackenzie said: “A lot of the demand in interim recruitment is unplanned and tactical, and we’re expanding our network so that we know who’s available at short notice for any financial role, whether that’s payroll staff or a fully qualified accountant.
“But our Agile FD service is different. These are strategic, interim placements of experienced financial directors with companies who need assistance on areas like R&D tax credits, fundraising or being brought through the process of an acquisition.
“The Agile FD service really grows out of our understanding that emerging businesses have distinct needs.We have a large network of trusted FDs, CFOs and financially savvy Non-Execs who have the skills and flexibility to meet the needs of emerging businesses and their investors.
“These individuals possess powerful track records of success, their own strong networks, and experience of working in fast-paced environments. Emerging companies pass through crucial stages of development, and interim access to a seasoned executive at the right time can make all the difference.”
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