Yorkshire-based optical chain Bayfields Opticians, has joined forces with Mazars LLP and the region’s leading emerging dealmaker Alex Baskeyfield to support plans to expand the business nationwide and identify potential acquisitions.
The opticians, which currently has six branches across Yorkshire including stores in Headingly, Horsforth, Leeds, Leeds University, Pontefract, Yeadon and its recently rebranded branch in Wakefield, plans to double the number of sites it has in the next two years, with a long term objective of increasing this figure to 50 by 2025.
It is planned that Bayfield will undertake a series of targeted acquisitions to meet these growth objectives, supported by its newly appointed accountancy and award winning Corporate Finance partner Mazars.
Royston Bayfield, managing director of Bayfield Opticians, said: “Since setting up in 2004 we have expanded the business steadily across Yorkshire, taking care to establish the brand and focus on ensuring we deliver the best service possible to our customers.
“These foundations are now well established and the necessary infrastructure is in place to enable us to look to secure more rapid growth for the company.
“The optical market is a fairly saturated market and for that reason a large part of our growth plans will involve the acquisition of existing opticians, rebranding them and bringing them under the Bayfields umbrella.
“I am really excited by our growth plans and am committed to ensuring that we get it right, which is why I have enlisted the help of Mazars.
“This strategic partnership will enable us to target the right companies and ensure that the best deals are made for the company working alongside both Alex Baskeyfield in the Corporate Finance team and Shaun Mullins, Audit & Advisory Partner.”
In addition to announcing its focus on growth, the start of 2015 has also seen Bayfields kick off the new year in style with the re-opening of its newly re-furbished and re-branded Wakefield flagship practice.
“The company is also hoping to continue to build on its award winning success of 2014, where it was awarded two national accolades by the Association of Optomotrist’s (AOP) in recognition of its services to optics including ‘Practice of the Year’ and ‘Marketing Campaign’ of the Year.
Shaun Mullins, audit & advisory partner at Mazars said: “We are thrilled to be working with Royston and the team at Bayfields Opticians. The company has excellent plans for growth and we are looking forward to working alongside the team to help ensure that the desired results are delivered.
“In addition to providing support on deals through our Corporate Finance team, we will also be acting as accountants and advisors to the company, ensuring that everything needed is in place to finance growth.”