PE-backed accountancy firm swoops for Scottish counterpart

Dains Accountants has made its third acquisition of the year as it moves ever closer to becoming one of the Top 30 accountancy firms in the UK.

Following swoops for Barringtons Accountants in July and Isosceles Finance in September, Dains has acquired one of Scotland’s oldest accountancy firms, William Duncan + Co.

William Duncan + Co has grown “consistently” in recent years after committing to the use of technology and continuing its policy of developing tailored personal relationships with clients.

It has offices in Glasgow, Ayr, and Kilmarnock.

Dains’ CEO Richard McNeilly said: “We have followed the progress of William Duncan for several years and it became increasingly clear that their approach to client delivery and people development closely aligned to ours. As a long-established firm in Scotland, we believe they are ideal partners to spearhead our growth, North of the border.”

Robert Fergusson, managing director at William Duncan, said: “Overnight we have improved the range of services available to our clients and this deal enables William Duncan to become a challenger firm in Scotland. We have an ambitious plan, and all of our team will remain in the business. In fact, I have no hesitation in saying that we have no shortage of opportunities for progressive professionals wishing to join a group that really values its’ people.”

Dains was advised by DSW, Forward Corporate Finance, Deloitte and CMS, while William Duncan was advised by Curle Stewart Solicitors.

Luke Kingston, partner at Horizon Capital, which backs Dains, said: “We are delighted to have supported Richard and Dains on their third acquisition and welcome the fantastic team at William Duncan into the Group. William Duncan is a high-quality firm, and we are excited by the significant opportunities created from bringing the businesses together.”

Dains has offices in Birmingham, Burton, Derby, Lichfield and Stoke-on-Trent.