Supporting Crosbie Matthew on their business journey

What does the term ‘accountant’ mean to you?

A professional who records and maintains clients’ financial transactions, ensuring compliance with legislation in the process? – yes. However, we pride ourselves on not just being accountants – we are leading business advisors, supporting clients on their journey, whatever that may entail.

For the last 13 years, our Glenrothes team have been working with Crosbie Matthew Funeral Directors, one of Fife’s longest established family firms.

Dating back to 1939, the firm has evolved and grown significantly in its 80 year history, generating many challenges and opportunities in the process. Most recently, the firm has bought and is preparing to transform its Dalgety Bay premises, ensuring that clients’ expectations are not only met but exceeded.

Having rented the premises for the last three years, Managing Director Sheila Matthew called upon Steven Todd, EQ Partner to explore the possibility of buying the building, complementing the firm’s portfolio of funeral homes in Kirkcaldy and Glenrothes.

With our significant expertise in Corporate Finance, we negotiated with Crosbie Matthew’s bank to ensure that they had the best possible deal and loan repayment terms, saving Crosbie Matthew money while retaining their long-term relationship with the bank.

In addition to working with them on the purchase of the Dalgety Bay premises, which will be unveiled later this year, we also dealt with their fleet, offering advice on the implications of re-financing or purchasing new vehicles. After seeking significant guidance from us, Crosbie Matthew has ordered three new vehicles, which they will take delivery of in Spring 2020.

Sheila said, “People and relationships underpin our business and we like to work in a certain way. Steven and his team know our business inside out and respect the way we operate, which echoes their own business practices and ethos. One of our values is working with local suppliers within our own business community, and EQ are very mindful of that loyalty when they are making inquiries on our behalf.

“In many ways, we view them as part of our management team as they are of huge support to us. Anyone can crunch the numbers but they’re so much more than that – they have the right contacts and expertise to scope the market, ensuring we get the best deals on each and every business transaction. We trust EQ implicitly – they are absolutely key to our business decisions, and our future.”

Steven Todd added, “We pride ourselves on knowing our clients’ objectives and using our extensive knowledge and reliable network of contacts to ensure we get the best deal for every corporate transaction. Not only do we look at cashflows, affordability and tax aspects but the commercial angles and what would work best for our clients in the long-term.

“We genuinely enjoy guiding Sheila and the Crosbie Matthew team on their business journey, empowering them to make the right decisions, not only for their business but their livelihoods and look forward to continuing to work together for years to come.”

If you are looking for advice on any Corporate Finance (CF) matter, please get in touch with our CF team via corporatefinance@eqaccountants.co.uk or call one of our offices.

For more information or to get in touch with Crosbie Matthew, visit www.crosbiematthew.co.uk.