A Birmingham entertainment accountancy firm has been taken over by a rival in a deal which creates an industry powerhouse with Ant and Dec and Phillip Schofield among its clientele.
The entertainment element of Michael Kay & Company, based in Water Street, has been taken over by OJK, which is part of the London-based James Grant Group (JGG).
The deal creates an entertainment accountancy giant, as OJK provides professional services to clients within the entertainment, music and sports sectors, including Bryan Adams, Davina McCall and Sir Bob Geldof.
OJK became part of JGG when it was formed by a £20.75 million management buy-out backed by Gresham Private Equity in August last year.
The deal will see the lead partner at Michael Kay, Mike Kay, working with OJK for a minimum period of 12 months.
Mr Kay’s clients include some recognisable faces from the entertainment industry, like Phillip Schofield who is also signed to JGG’s management arm.
The acquisition is the second in a growth strategy led by JGG management team and Gresham.
Mr Kay said: “I am delighted to join forces with the OJK team. There are obvious synergies between my company and the wider James Grant Group and this is a logical fit in the best interests of my clients.
“I have been fortunate to work with some of the best UK talent in entertainment and look forward to developing our service proposition further with OJK.”
Paul Franks, partner in Gresham’s Birmingham office, said: “We’re delighted to see James Grant Group complete a further acquisition following on from the recent First Artist Management deal. This is another example of Gresham’s proactive approach to backing businesses with their Buy and Build strategies.”
Pat Savage, managing director of OJK and group director of JGG, said: “The strategic fit with Mike Kay’s business is compelling – they have a highly complementary client roster and we have some of the best accountants in this industry to support Mike in delivering all their needs.”
Mr Kay, having been a partner in a Birmingham firm for several years, left and set up on his own in 1996 in Birmingham.
The client base covers most aspects of commerce and industry but specialises in the entertainment sector.