Two Midlands accountancy firms are on the cusp of merging in a deal which would create one of the largest chartered practices in the region.

Birmingham-based Clement Keys said it was in "advanced talks" to join forces with East Midlands firm PKF Cooper Parry.

The new firm would have a combined revenue of around £30 million and a team of more than 350 people, operating out of two offices in Edgbaston and Castle Donington.

The merger is expected to complete early in the new year.

Managing partner at Clement Keys Joe Bates said: "Clement Keys and PKF Cooper Parry are delighted to be joining forces.

"We have spent a number of years growing our market share and so has PKF Cooper Parry.

"Bringing the two firms together will broaden our services to businesses in our region and strengthen our position in the marketplace."

PKF Cooper Parry's chief executive Ade Cheatham added: "This is an exciting and significant merger for both firms.

"We share a closely aligned vision to be number one in the privately owned market across the whole of the Midlands through creating a fiercely independent firm, which is purely focused on exceptional client service.

"This merger will enhance and complement our offering to clients, bringing sector expertise and extensive international reach along with extensive experience across core services under one brand.

"This exciting development demonstrates that we are ambitious for growth and are determined to be seen as the adviser of choice for privately owned business."