Southampton office marks a new chapter for long-established accountants
Following the recent opening of PKF Francis Clark’s new office on Southampton Science Park, we caught up with corporate finance partner Paul Stout (pictured above).
So Paul, why has PKF Francis Clark opened a Southampton office?
We already provide corporate finance, audit and specialist tax work for our clients in the Hampshire area, so establishing a permanent presence here is a natural extension of our activities. Hampshire and the M3 corridor is a thriving commercial area and, despite the wider economic uncertainty, demand for our services has never been higher.
With its cluster of innovative start-ups and leading technology businesses, Southampton Science Park is the perfect location for us, and we look forward to helping ambitious businesses both here and across the region to achieve their growth plans. There’s also a great talent pool in the Southampton area and we will be actively recruiting to meet the demand we are seeing for our services from both entrepreneurial owner-managed businesses and the mid-corporate market.
What’s the response been like so far?
There’s been a very positive reaction from both clients and other professionals to the fact we’re investing in the local market. The office gives us an opportunity to be closer to our existing clients in this area, and we’ve already attracted some excellent recruits as a result of establishing a base here.
Can you tell us a bit about your career journey?
After a chemistry degree I trained as an accountant with a large national firm, then in 2000 I moved from audit into corporate finance, working in Southampton and Reading.
I then moved into industry for two years, working for a large PLC on integrating acquisitions into the existing business. That gave me a valuable insight into the corporate M&A market and what happens after a deal. Knowing first-hand what’s important to companies making acquisitions helps me to see things from the buyer’s perspective when we’re selling companies.
Since 2008, I’ve focused on company sales, management buy-outs, acquisitions and providing strategic advice for clients. I joined PKF Francis Clark in 2017 to set up a corporate finance team serving the M3 corridor region and grow our presence in this market.
What attracted you to PKF Francis Clark?
The opportunity to build my own team was an exciting challenge, and the firm was investing in the local market at a time when others were turning their focus towards other financial centres.
Our culture is supportive and entrepreneurial, and work-life balance is valued. People are judged on their outputs rather than presenteeism.
As a firm of over 900 people across nine offices, we punch well above our weight and are able to offer solutions to a broad range of clients. We’re able to match the Big Six accountancy firms in terms of quality, but we’re also able to help smaller clients.
What do you find most rewarding about your role?
The work we do makes a material difference to our clients, whether that’s growing or selling their business. The value we add has a significant impact on their lives, so that’s fulfilling. I also find it hugely rewarding supporting our team to develop and progress in their careers.
What are your career highlights?
On a personal level, making partner was an ambition achieved. In terms of deals, the sale of Halo Accident Repair Centre to an international buyer last year stands out as a great example of helping entrepreneurs to realise the value of their hard work. And finally, I’d have to say opening our new office here in Southampton – it’s another milestone in the 103-year history of PKF Francis Clark.
Business funding specialists join PKF Francis Clark
Experienced banking and funding advisors Alison Trant and Jeremy Richards have joined PKF Francis Clark in Southampton to help ambitious businesses access the capital they need to realise their growth plans.
It comes four years after they left their corporate banking careers to start their own independent banking and funding advisory service, FiftySeven Finance.
“Our vision was for regional small and medium-sized enterprises (SMEs) to be able to access an independent banking team to support them in their funding ambitions, through a good old fashioned business bank manager service but crucially with whole-of-market access across commercial and challenger banks, as well as the fast-growing alternative finance market,” said Jeremy.
“Having supported many SMEs with their funding and banking requirements, we believe the best way to achieve our shared ambition of further growing our capability and reach is to join forces with a firm that shares our vision, values and, critically, believes in the benefit of the service we provide to SMEs.”
Alison added: “With high street banks scaling back their local relationship teams and the meteoric rise of alternative lenders and debt funds, the funding landscape has become bewildering for businesses to navigate. We’re delighted to join PKF Francis Clark and look forward to continuing to support regional SMEs with independent banking and funding advice, working closely with all our professional contacts.”
Paul Stout, corporate finance partner, said: “Alison and Jeremy bring a wealth of expertise from their banking backgrounds to complement our existing skills and experience within the team. Their reputation in the market is exceptional and they are already playing a key role in supporting businesses with funding events, recapitalisations and refinancing needs.”
