Herbert Smith Freehills advises Waterland Private Equity and the management on the sale of Cooper Parry to Lee Equity Partners

Cooper Parry is known for its culturally driven and "rebellious" approach and is one of the fastest growing firms of accountants and business advisers in the UK, providing audit, tax, wealth management, business services, and sustainability advisory. Lee Equity is a New York based private equity sponsor that partners with businesses primarily in the financial services and healthcare sectors.

Waterland invested in Cooper Parry in late 2022 and has supported the business in its ambition to become a leading accountancy firm in the UK market by helping Cooper Parry broaden its capabilities and expand its presence across the country.

During the period of Waterland's investment Cooper Parry has seen transformational growth and successfully completed and integrated 11 transactions, including the acquisition of Haines Watts London and its associated audit and advisory businesses across the South-East.

Following two years of transformational growth, Lee Equity will succeed Waterland as Cooper Parry's capital partner.

The agreement, signed on 10 December 2024, is expected to close in the first half of 2025 subject to regulatory approvals.

The Herbert Smith Freehills team was led by partners Malcolm Lombers and David D'Souza, with support from partners Joseph Dennis, Ambarish Dash, Marina Reason and Nick Wright, UK Regional Head of Practice, Competition, Regulation and Trade Veronica Roberts, consultant Frank Thompson, senior associates Arijeet Mukherjee, Matthew Player, Oliver Henderson, Max Kaufman, Sam Tappenden and Ioannis Asimakopoulos, associates Raul Vellani, Aqeel Asif, Oisin Tubridy, Chloe Kim, Toni Mathers and Shael Geffen, and trainees Theo Pickles and Jiaman Tan, from a range of practices including Finance, Private Equity, Disputes, Employment and Tax.