Sovereign Capital Partners, a private equity company, completed the acquisition of a majority stake in LB Group, a chartered accountancy services firm. Financial terms were not disclosed. "We are delighted to be working with LB Group. It is a well-managed business with a strong reputation for providing high-quality accountancy and business advice services. We believe that LB is very well-positioned to consolidate the fragmented accountancy sector, initially in the East and South East of England. With our investment and support we look forward to expanding its geographic presence, client base and technology offering," Alex Hay, Sovereign Partner.