Nuvo sets sights on top 25 UK accountancy ranking with dual growth strategy

Founder Steve Sharp explains how Nuvo plans to blend deals, culture and organic growth to break into the UK’s top 25 accountancy firms by 2030

Hello Rainmakers,

Steve Sharp has pretty bold ambitions for Nuvo. By 2030, he wants the Derbyshire-headquartered accountancy group to rank among the UK’s top 25 firms, a goal Sharp describes as both “challenging and achievable,” driven by a combination of organic growth and strategic acquisitions.

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For Steve Sharp, organic growth remains central to Nuvo’s strategy. “Much of it comes from referrals from existing clients,” he explains, “but it’s also about being able to offer more services and nurturing growth within our current client base.” Expanding the services on offer and deepening client relationships ensures that the firm continues to grow steadily from within, providing a foundation that can be supplemented by external opportunities.

Acquisitions, however, are equally important in Nuvo’s plans. Sharp notes that the firm’s expansion model includes smaller acquisitions within existing offices, regional new offices, and national partnerships. Over the past 17 years, Nuvo has completed 36 acquisitions, including its most recent being Pentlands Accountants and Advisors in Warwickshire.

“We’re looking to build both local density and national reach,” he says, “so our offices can collaborate regionally while also forming strategic connections across the UK.”

You get the sense that things are ramping up for Sharp since he oversaw the new branding from “ADS Accountants and Business Advisors” in 2023 to the modern name and brand identity of Nuvo, marking a new era since he founded the business with Adam Dominey in 2004. The name was derived from the latin word Novus, meaning “new, fresh and modern”.

He says now that cultural fit is the first checkpoint for any potential acquisition. Sharp is adamant that the alignment of values and working style between the partner business and Nuvo is essential. “Only when we’re confident that there’s a cultural match do we assess operational, technical, and financial factors,” he explains. By prioritising culture, Nuvo avoids the pitfalls that often derail mergers and ensures that clients experience continuity.