The managing partner of one of the country’s fastest growing chain of accountants – Streets has explained how he decided to expand without using private equity.
Streets was originally founded in 1907 and is now a UK top 40 accounting firm. It now has almost 500 team members and 70 partners across England, Wales and Northern Ireland and continues to grow organically and via acquisition. Streets’ growth is unique in the accountancy sector, because it has been achieved without private equity (PE) funding, or external backing.
Paul Tutin, managing partner of Streets, said organic growth was a key part of his business’ DNA, and will continue to be so.
Earlier this month the company announced that it had acquired Belfast-based Fitpro Finance Limited – taking its British footprint to 33 offices.
It has been well documented that the accountancy sector has chased scale through private equity (PE) backing, proof being the number of small independent practices which have disappeared from the local high street in recent years.
In an era when upfront capital from PE investors has been increasingly popular within the sector, Streets has built a national presence by acquiring and integrating like-minded firms, without third-party funding, external debt, or sacrificing autonomy.
Here Mr Tutin explains the six key ways that Streets has grown without relying on private equity funding.
- Choose Culture Over Capital
Private equity brings capital, but also centralised control, culture clashes, and commercial pressure. Streets instead prioritises cultural alignment, integrating firms that share its ethos of client care, quality service, and regional commitment. The result is a more cohesive, motivated organisation where local teams retain ownership of delivery and decision-making.
- Build with Certainty, Not Speculation
PE deals often come with deferred or uncertain payments, creating financial instability for selling partners. Streets’ model is built on transparency and guaranteed outcomes. For acquired firms, this means peace of mind. For the wider business, it means financial clarity, reducing risk and enabling disciplined, long-term planning.
- Strengthen Through Shared Infrastructure
Firms joining Streets benefit from centralised marketing, HR, compliance, and IT support, freeing up local leaders to focus on clients and growth. This blend of shared resource and retained identity allows each office to thrive independently while benefiting from the scale and strength of a national network.
- Grow Organically with Local Leadership
Streets’ approach empowers local leaders to drive growth in their regions, backed by group-wide investment and support. Rather than imposing uniform targets or stripping out leadership post-acquisition, as can happen in PE-backed models, Streets fosters entrepreneurship, innovation, and local accountability.
- Protect People and Relationships
Client retention above 95% is no accident. It’s the product of a business that values continuity, communication, and shared success. Unlike models driven by short-term returns, Streets’ focus on people, whether clients or colleagues, translates into stronger service, deeper loyalty, and smoother transitions during growth phases.
- Deliver Real Opportunity, Not Just Exit
Streets doesn’t offer an “out”, it offers a way forward. For founders and partners of acquired firms, this means joining a larger organisation without losing their local footprint, team or values.
For clients, it means access to more expertise without a change in relationship. And for the wider firm, it means sustainable growth that strengthens, rather than dilutes, its core
For more information visit www.streets.uk
