Accountancy firm swoops again to add to Scottish footprint

Richard McNeilly

Dains, the accountancy firm which has offices in Derby and Birmingham, has bought Scottish counterpart Condies Chartered Accountants.

Condies has offices in Dunfermline, Edinburgh and Dundee. Dains entered the Scottish market after buying William Duncan + Co (now Dains Scotland) in September 2022.

The deal marks Dains’ ninth acquisition since private equity firm invested in the company.

Pauline Hogg, managing partner at Condies, said: “Joining forces with Dains Group is a fantastic opportunity for our team and clients. We are excited about the synergies this partnership will bring and the enhanced capabilities we can offer. Our clients will benefit from the extensive resources and expertise of the Dains Group, while still receiving the personalised service they value.”

Graeme Bryson, managing partner of Dains Scotland, added: “This acquisition represents a significant step in our growth strategy, allowing us to extend our reach in Scotland and leverage the exceptional talent at Condies. Together, we are well-positioned to offer an even broader range of services to our clients. I am looking forward to working with Pauline as joint Managing Partner of Dains Scotland.”

“We are proud to welcome Condies to the Dains family,” said Richard McNeilly, CEO of Dains Group.

He added: “Extending the incredible work done by Graeme Bryson and the Dains Scotland business is a fantastic opportunity. Pauline and the team at Condies are the blueprint for the perfect acquisition with a total focus on client support backed up by exceptional talent. Working in parallel with the group, the team are in an amazing position to offer an even broader range of services to our clients.”

Luke Kingston, managing partner at Horizon Capital, said: “This is another example of an excellent addition to the Dains group, and we are delighted to have supported Richard and the team on this acquisition. With group revenues now over £70m it is clear that Dains is one of the leading operators in its sector.”

Dains were advised by DSW (financial and tax due diligence), Forward Corporate Finance (financial modelling), Deloitte (tax structuring) and CMS (legal). Condies were advised by Curle Stewart (legal).