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.”
Find out why PE firms are feeling more bullish about the UK
Opportunity in southern England to acquire a well-established business providing bespoke accommodation solutions for individuals with disabilities, renowned for its extensive client network and strong reputation in the sector.
An opportunity to acquire a reputable and experienced solicitors' firm specialising in family and private client services in East London is now available.
This is a unique opportunity to acquire or merge with an established SRA regulated solicitors' firm located in the West Midlands, overseen by two experienced partners.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.