PE-backed accountancy firm snaps up Midlands rival
Dains Accountants has acquired a “well-respected” Midlands rival which has offices across Staffordshire, Cheshire, and Shropshire.
Announcing the swoop, Dains CEO Richard McNeilly described Barringtons, which has provided accounting and tax services to owner-managed businesses and individuals since 1980, as a firm with “similar values” to his own.
He said: “Barringtons is a well-established and highly credible firm with a high-quality team and client base. We have similar values and strongly believe in delivering impressive results for clients and rewarding careers for staff.”
McNeilly says the acquisition is “the first of several” Dains hopes to complete in 2022.
Phil Wood, managing director at Barringtons, said: “We have continued to invest in technology and in our team in recent years and we have always been determined to deliver the best possible service to our loyal clients. By joining Dains, our ability to deliver an even broader range of services is enhanced and we look forward to working with the Dains team for many years to come.”
Luke Kingston, partner at Horizon Capital, who supported Dains on the deal, added: “Barringtons is a well-respected business and has performed strongly through the pandemic demonstrating its importance to customers and the critical service it provides. We are delighted to have supported Dains on this acquisition as they continue their journey to consolidate the fragmented SME accounting and tax marketplace.”
Dains has offices in Birmingham, Burton, Derby, Lichfield and Stoke-on-Trent.