The Hoghton Street practice has now become Advance Accountancy and will continue to be led by directors Bob Thompson and Janice Hurst. The deal means that Champion now has 110 staff across its offices in Manchester, Chester, Preston and Blackpool.
Bob Thompson and Janice Hurst, directors at Advance Accountancy, said: "It's been incredible being part of the Champion Group for the last 15 years, helping us to grow the business to what it is today.
"It became apparent over the last few years that we had different goals for the business and it now feels right to take this forward as Advance. We're excited about what the future holds for Advance and all of its clients."
Ged Cosgrove, group managing partner at Champion Accountants, said: "As two businesses we came together when our service offering was still traditional accountancy support, yet it's always been the group's collective goal to remain at the forefront of technology and reinvent our offering so to align with the needs of modern business.”
"Southport will operate more successfully apart from the group infrastructure and this MBO will enable them to service their market as an agile, independent business, whilst we concentrate on the future of Champion."
Darren Ormsby, who led the deal at DWF, said “The deal has enabled both parties to realise their goals - Advance Accountancy in being able to branch out on their own and Champion Accountants in realising the efforts of establishing the Southport office over a number of years. We are delighted to have helped Champion Accountants on this transaction.”