AN accountancy and business advisory firm says it has formed a £4m venture after the largest takeover in its near 100-year history.

Robson Laidler Accountants has bought Chester-le-Street’s Straughans Chartered Accountants for an undisclosed sum.

Bosses say the deal will take the business’ headcount to around 80 staff, revealing there are no plans to make redundancies or close Straughans’ Chester-le-Street base as Robson Laidler seeks to capitalise on its strong presence in County Durham and Wearside.

They added the agreement will see Straughans’ founders Mike Fleming and Mike Tait stay on to support the companies’ integration, with the firms continuing to trade under their own names for the foreseeable future.

Graham Purvis, Robson Laidler managing director, said the move will give the Newcastle-based business, which will celebrate its 100th birthday in 2020, a group turnover of around £4m.

He said: “We have made a few acquisitions over the years, nothing as significant or substantial as Straughans, but this forms an important part of our growth.

“Mike and Mike have built up a fantastic business over a great many years in the south of the region and share very similar values to us.

“They are a fantastic fit in terms of values and geographically, so we are thrilled they have chosen to join us.”

Mr Tait confirmed Straughans will continue to operate from its Hadrian House base in Chester-Le- Street with its existing 20-strong workforce.

He added: “Robson Laidler were clear with Mike and I from the outset that they perceive us, both the firm and our people, to have a great many strengths and that they were keen to build on these.

“We will both learn from each other, look to share knowledge, processes and best practice but we all believe our businesses are stronger together and look forward to working together.”

Meanwhile, as part of a simultaneous rebrand, Robson Laidler’s financial planning division has appointed Amanda Cowie as a director and changed its trading name to Robson Laidler Wealth.

The company has also promoted Michael Smith and Amy Park to director roles.