Wed | Aug 23, 2017

UHY Dawgen gets bigger

Published:Sunday | October 5, 2014 | 10:00 AM

UHY Dawgen Chartered Accountants said Wednesday that agreement has been reached for the acquisition of 39-year-old accounting firm Astley Jarrett & Company.

Both firms are headquartered in Kingston.

Dawkins Brown, managing partner for UHY Dawgen, said he was unable to discuss the price of the transaction under a non-disclosure agreement, but said the merger of the companies would cost "a few millions" to cover branding, staff integration and training, and technology infrastructure.

"We are transferring all staff of approximately 14," he said.

Brown, who described Astley Jarrett as "a longstanding firm, providing services to Jamaican businesses since 1975, with a long-standing client base", said ASJ will operate under the UHY Dawgen brand.

"The acquisition will take UHY Dawgen to the next level as we execute our growth agenda," he said, boosting the accounting and business-advisory services presence both in Jamaica and across the Caribbean.

OPPORTUNITY FOR SERVICES

Nathan Reid, Partner at Astley Jarrett & Company said the acquisition offered an opportunity to increase the services to AJC clients.

The company release said that all staff will be offered continuous employment with UHY Dawgen and that Reid would assist with the transition of clients before retiring.

UHY Dawgen is part of the UHY international network, which spans 250 major business centres in 87 countries.

Chairman of UHY Ladislav Hornan said the firm's expansion since joining the network three years ago was evidence of its commitment to better service delivery.

In 2013, UHY Dawgen merged with audit specialists Paul Goldson & Company to create a firm with four partners and 60 staff spread across offices in Kingston, Mandeville, Ocho Rios, and Montego Bay. This deal, it was said at the time, placed Dawgen among the big four of local accounting groups.

avia.collinder@gleanerjm.com