Case Studies
epyx
epyx is going places fast. Since it was founded in 2000, the high-tech, Meriden-based business has claimed a regular place in the prestigious Fast Track league tables, which track the progress of the UK’s most successful private companies, and has appeared for three consecutive years in the Sunday Times Tech Track, with the highest recorded position of 28th.
Yet this high-flying firm believes in keeping its feet firmly on the ground – something to do with starting life in a leaky farm building, perhaps – an approach that includes staying loyal to its original accountants, Murphy Salisbury. Finance chief Peter Crawford explains: “We are very happy with the quality of their advice.”
epyx was launched by managing director Greg Connell, who left a senior role within motor dealership giant Pendragon PLC to pursue a vision of creating web-based services for the motor sector. Its core 1link platform enables fleets to buy, sell or hire cars and renew road tax electronically and automate fleet servicing and maintenance.
The success of its solutions has seen it grow from a handful of staff to 70-plus, a turnover forecast of £15 million for 2008 plus blue chip clients including Lloyds Bank plc and the RAC. It also has a growing international presence, with overseas operations in Australia, France, Germany, Portugal and Spain.
Murphy Salisbury have been by epyx’s side from the start and although the company now has its own in-house finance team, Murphy Salisbury continues to provide general business and accountancy advice, as well as payroll and PAYE services, and has previously carried out audit work.
Tax partner Bobby Gupta, with whom the epyx team have a particularly close relationship, also looks after the directors’ tax returns and is always on hand to advise on business and finance issues, as they arise.
That support includes Bobby playing a key role in a £45 million refinancing exercise in 2007. Peter says: “That was a significant piece of work, which involved buying out passive shareholders, and we drew extensively on Bobby’s advice.
“Bobby’s input was really important on issues including liaison with HM Revenue & Customs on agreeing share valuations and managing the process to achieve maximum tax efficiency.”
Whether it’s a swift turnaround on payroll to specialist advice on multi-million pound transactions, Peter says that Murphy Salisbury delivers the efficient, expert services that a dynamic company like epyx needs. He adds: “When you are in business, you look for professional support you can rely on. That is what Murphy Salisbury give us.”
To find out more about how our leading firm of accountants in Stratford-upon-Avon and Warwickshire can help you, please contact us.
