Birmingham based firms including corporate finance boutique Jasper Corporate Finance and lawyers HBJ Gateley Wareing advised the shareholders of Shaws on the deal.

The Shareholders consist of Chief Executive Andrew Shaw together with a group of senior management and many of Shaws staff. Andrew qualified as an accountant with Price Waterhouse and after a spell with Ernst &Young started up Shaws in 1992 with some colleagues who remain with the firm today.

Shaws now has 48 staff and an extensive client base made up of high net worth individuals and their families, UK corporates and international companies. Clients include a number of prominent sports people. The firm had been the largest independent tax advisory practice in the UK.

The business operates from a landmark office in Edgbaston and from Haymarket in London, having also recently established an office in Cyprus to complement its network of international correspondents. Shaws will become an integral part of developing the Group’s tax practice of which Andrew Shaw will become National Tax Managing Partner.

Andrew Shaw said: "The merger of Shaws into Begbies Traynor Group will enable our business to benefit from being part of a bigger organisation. It will give us access to new clients, give our existing clients a wider service offering, as well as provide the operational support that can be obtained from a quoted company. In addition it will offer our staff more opportunities and a greater breadth of experience."

Guy Hemington who led the deal for Jasper said: "Andrew Shaw has thought carefully about the right organisation to merge the business into. The choice of Begbies Traynor Group will give Shaws the right blend of a larger professional organisation which can offer introductions to new business but also allow Shaws to retain its identity without being subsumed into a larger tax division. The Group recognised the opportunity some time ago and were keen to secure the acquisition from the start"

Mike Ward who led the legal advice team said: "Begbies Traynor Group have acquired a business with excellent clients and staff together with sound growth prospects. Looking forward the combination of the businesses should be beneficial to both organisations.”

Ric Traynor, Executive Chairman of Begbies Traynor Group, said “we are delighted to have Andrew and his colleagues join us.  Shaws is an excellent business and a major cornerstone in our plans to build a national tax practice  giving support to our extensive network of general practice accountants and other professionals who need to seek outside assistance to help service tax client’s needs”.