From Trainees to Owners: Exeter Accountants Take Over Leading Local Firm

An established Exeter accountancy firm has entered an exciting new chapter after three long-standing team members successfully took ownership of the business.

Sidaways Chartered Accountants, which has been a trusted financial partner to businesses in and around Exeter for nearly four decades, has always placed a strong emphasis on developing local talent. Many of its employees started their careers at the firm, gaining experience and progressing into senior roles. Now, with the help of Allica Bank, the three of them have completed a management buyout to ensure Sidaways remains independent and continues to grow under their leadership.

The new owners, Sam Andrews, Michael Broome and Daniel Routcliffe - all in their thirties - first joined Sidaways early in their careers and have played a key role in shaping the firm’s culture. They’ve helped attract ambitious new clients while investing in apprentices/school leavers and their training. So when the opportunity arose to take the business forward while retaining the ethos that has made Sidaways a success, they seized it. With funding support from Allica Bank – a bank dedicated especially to supporting established businesses – the buyout was completed in January, and since then the firm has achieved record results and is planning to expand its team further.

Sam said of the takeover, “We’ve grown up in this business, and taking ownership is an incredible milestone for us. Exeter is home to so many ambitious businesses, and we’re excited to grow alongside them. Our focus is on continuing to provide the financial support and guidance that Exeter’s business community needs, while also developing the next generation of accountants.”

Daniel, spoke of Allica’s support specifically: “Working alongside established small to medium sized businesses on a daily basis, it was refreshing for us to deal with a bank that genuinely puts these types of businesses first. The fact that Matt from Allica was only ever a call away and could literally pop into the office whenever needed was something we’ve not seen before! It made the whole process of buying the business really smooth. We look forward to working with the Allica team to help our own clients achieve great things!”

Matt West, Sidaway’s Relationship Manager at Allica Bank, said: “Sidaways is a fantastic example of a local firm with deep roots in the community. I’ve had the chance to really get to know the new owners and it’s clear they all have a real passion for making a difference to both the lives of local business owners and those they employ. I’m sure we will continue to hear lots from Sidaways and their ambitious plans in the future!”