IAPA was instrumental in Price Bailey’s acquisition of Colin Pickard’s business in Guernsey.
I attended my first IAPA conference in Berlin, May 2007 and also presented at the conference leading a discussion on 'Change Management'.
I enjoyed the conference immensely and amongst many great people, I met Colin Pickard. During a coffee break, Colin also got to know Price Bailey. Colin told me he was extremely busy in Guernsey, everything was going well in his business but as a sole practitioner he struggled to recruit the right people and as a result he was not able to exploit all the opportunities which came his way. In response I said we at Price Bailey also struggle to recruit the right people but as we employ over 200 professionals, I was sure we could help by lending him good staff. Within two months we had a qualified accountant seconded for 6 weeks working for Colin Pickard in Guernsey and over the next two years we regularly seconded team members ranging from one to six weeks at a time. During these two years we got to know Colin Pickard, his business and the Guernsey market very well. Perfect due diligence! After a while it became apparent it would make great sense for Colin Pickard to join Price Bailey.
A deal was discussed and agreed, new offices were found in St Peter Port and on 1 August 2009 Price Bailey opened its first international office, with Colin Pickard as the resident partner. Since August 2009 the office has gone from strength to strength. The office has doubled in size from 7 to 14 professional team members, it provides a full range of services from audit to business strategy, we also now have a fiduciary license and we expect the office to continue to grow, with its strong links to our City of London office. So in summary, if I had not attended the IAPA conference in Berlin during 2007, I would not have met Colin Pickard and Price Bailey would not now have it first international office in Guernsey. Price Bailey now employs over 350 people, has a turnover of over £25million and has virtually doubled in size since the Colin Pickard deal.
We at Price Bailey's act as professional advisors to our clients, delivering a wealth of knowledge across a full range of services, spanning multiple jurisdictions. Being a member of IAPA helps us to deliver this quality assured, global knowledge when the occasion arises, both quickly and cost effectively, which is essential for our ambitious and fast growing firm.
Thank you IAPA!