Dains swoops for Scottish firm after fresh PE investment
Accountancy group Dains has made its first acquisition since securing private equity backing from IK Partners.
Consilium Chartered Accountants, based in Glasgow, bolsters Dains’ Scottish headcount to 200 staff and adds further corporate tax, audit and corporate finance expertise.
The deal marks the 11th acquisition for Dains since 2021, bringing the group’s total headcount to 850 staff.
IK took a majority stake in the practice in December, alongside the management team which is “significantly” re-investing.
The private equity investor succeeded Horizon Capital, with plans for Dains to continue to grow organically across the UK and Ireland, make further investments in its operational platform and recruitment and look for further acquisitions.
Graeme Bryson, Scotland managing partner at Dains Group said: “We were attracted to Consilium because of their advisory mindset and strong cultural values.
“It is our ambition to collaborate with our clients, to provide timely and well thought through advice based on a detailed understanding of what they are trying to achieve, and this has been the cornerstone for Consilium’s rapid growth, making them obvious strategic partners.”
David Holt, partner at Consilium said: “Dains approached us with a clear vision for delivering a market-leading advisory proposition for our clients, in a group that believes in providing great careers for its team. Upon joining the group, we enhance the range of services open to our clients and look forward to building the business in Scotland for the benefit of all our stakeholders.”
Richard McNeilly, CEO of Dains Group said: “It is rare that we meet such an enterprising and client-focused leadership team and the opportunities we can create together in Scotland and across the UK and Ireland are substantial. We are building a very compelling proposition in Scotland, having previously partnered with William Duncan & Co, and Condies. Our group comprises over 850 people and we are determined to continue improving the proposition for our clients and the career opportunities for our talented team.”
Pete Wilson, partner at IK added: “It is fantastic to welcome Consilium to Dains, which represents the 11th acquisition by the group since 2021. Dains has a clear ambition to differentiate itself, through offering a high quality, value-adding, comprehensive suite of services for its customers, whilst engaging with the best delivery team in the SME market – I know the team cannot wait to get started.”
Dains were advised by DSW (financial and tax due diligence), Forward Corporate Finance (Financial Modelling), Deloitte (Tax structuring) and CMS (Legal). Consilium were advised by Vialex (Legal).
