Tue, 17 Dec 2024 | BUSINESS SALE
European private equity group IK Partners has taken a majority stake in Birmingham-based Dains Accountants.
IK Partners will succeed fellow private equity firm Horizon Capital as the majority shareholder, with the management team also ‘significantly reinvesting’. The IK investment comes from its IK X fund.
Financial terms of the deal have not been disclosed.
Established in 1926, Dains provides a comprehensive suite of accounting and business advisory services to fast-growing small and medium-sized enterprises in the UK and Ireland. The business offers a differentiated approach through its senior-led client relationships and delivery across a range of services, including: Accountancy & Business Advisory; Audit; Tax; Corporate Finance; Forensic Accounting; and Business Recovery.
Following investment from Horizon Capital in 2021, Dains has grown rapidly as a result of 10 strategic acquisitions and organic growth. At present, the company has 765 employees who serve over 17,000 clients.
Now with the backing of IK, Dains said it will look to continue its strong organic growth in the UK and Ireland; make further investment in its operational platform and recruitment; as well as accelerate its inorganic growth through partnering with strong, complementary firms across the UK and Ireland.
Richard McNeilly, CEO of Dains, said:“We believe IK possesses the necessary track record and expertise required to successfully support us in this next phase of our development. The team’s experience in both the Accounting and Professional Services sector, as well as in executing buy-and-build strategies in the UK and Ireland will be especially important in a fragmented marketplace like ours, where we are looking to drive consolidation.”
Pete Wilson, Partner at IK Partners, said:“Dains is a strong business with an impressive history of delivering exceptional client services and business growth year on year. The breadth of services offered by their accountancy experts across the UK and Ireland has built an excellent reputation for Dains amongst fast-growing SMEs.”
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The company is a widely regarded and highly respected training business, specialising in offering industrial plant, civil engineering and health and safety training, with courses ranging from CPD through to managerial training.
With staff and succession planning in place, this business can continue operating profitably following a sale.
Multi-office Midlands IFA offered with inbuilt succession planning and a team in place, this business can continue to run efficiently and profitably.
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