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A FIRM of chartered accountants has expanded following an acquisition.

CW Fellowes secured funding in order to buy the Portsmouth office of Blue Spire South LLP.

The funding came via the government’s Funding for Lending Scheme, which was secured for the company by NatWest.

The seven staff and clients from Blue Square South will be absorbed into CW Fellowes, which has offices in Portsmouth, Fareham and Chandler’s Ford.

The firm expects to increase its turnover by 15 per cent in the first year.

Its financial director Bruce Elkins said: ‘We’ve been improving and growing the business for a number of years and this acquisition is another step forward.

‘When opportunities like this arise, it’s important to know that support is available.’