Archive 01.7.13

CBW merges with tax specialists Blackstone Franks

Archived Post
Archived Post
Archive 01.07.2013

Mid-tier accountancy firm Carter Backer Winter LLP (CBW) today announces its merger with accountants and tax specialists Blackstone Franks. The merger, the second by CBW in the past 18 months, will boost CBW’s business advisory team with the addition of one of the industry’s most recognised figures – Robert Maas. The merger will be effective from 1st of July 2013 and will bring CBW’s complement to 16 partners/consultants and 100+ staff.  The newly created unit will trade as CBW Blackstone Franks but the firm as a whole will continue to be known as CBW. The Blackstone Franks team has been advising UK and international clients for more than 40 years and its partners have pioneered many areas of professional work including: original ideas that have shaped tax legislation; management buyouts; tax software; financial services; and international business and finance. Blackstone Franks were the joint developers of TAXsoft, which became the leading tax computational software package of its time. Blackstone Franks was also one of the first firms of accountants to offer financial services in a regulated environment (the first firm to register with the regulator, NASDIM). Between them the partners have written more than 30 books on professional subjects. The merger with Blackstone Franks creates a significant tax team with the addition of:

  • Robert Maas – one of the leading experts on property tax in the UK. When chairman of the Technical Tax Committee of the ICAEW, he was responsible for shaping the legislative framework for the taxation of property holdings by overseas residents and is a well-known authority within the accountancy profession.  He is the author of many books including Property Taxes, Taxation of Employments, Anti-avoidance Provisions and HMRC Powers and Taxpayer Rights. He was awarded the 2013 Lifetime Achievement award at LexisNexis Taxation Awards (which are the gold standard of excellence in the UK tax industry).
  • Thomas Adcock – Thomas is a former Corporate Tax Inspector with HM Revenue & Customs, where he headed an enquiry team. He has extensive experience in the tax affairs of corporate entities, including small and medium size businesses and multinational corporations.

The merger also adds significant strength to CBW’s range of business advisory services to UK and international mid-market businesses with the addition of:

  • Subhash V Thakrar – is currently the chair of the London Chamber of Commerce.  Subhash is the founder of an equity fund investing in the Indian Equity Market, and recently launched a real estate fund for India jointly with Old Mutual Group of South Africa. He is actively involved in advising UK and international corporations on conducting business in Britain as well as cross-border joint ventures.
  • Lance R Blackstone – is the joint senior partner at Blackstone Franks and is primarily focussed on corporate finance activity and advising businesses and high-net worth clients from many countries. He has sat on the boards of public and private companies in a wide variety of industries. He has pioneered many areas of UK professional work including management buy-outs, corporate finance and financial services. He wrote the first book on Management Buyouts and helped shape the methodology and the legislative framework to make them possible in the Companies Act 1984. He is the author of in excess of ten books on professional and business subjects, including two on Management Buyouts. His corporate finance work encompasses many and varied activities such as flotations (including the largest ever IPO at the time, Trade Development Bank SA.), negotiating the purchase of Capita PLC for the management buy-out team and writing the master plan for the redevelopment of a former airbase in the Philippines.

Peter Winter, Managing Partner at CBW, said: “CBW’s strategy is to grow both organically and with the selective addition of highly regarded specialist practices.  We are all about providing a firm that delivers the sort of expertise you would normally expect to find in a very large firm, but combined with a strong partnership ethos and hands-on partner involvement.  We have known the team at Blackstone Franks for many years and look forward to working with them in the same partnership.” Subhash V Thakrar, Joint Senior Partner at Blackstone Franks said: “We have known many of the team at CBW for years and look forward to working with them in the same partnership.  I’ve kept on eye on the work CBW has done and have always been interested in the business. They have a great range of experts and mid-market clients which will strongly complement our international and high-net worth client-base.”