Private equity firm strikes deal for accountants

A private equity firm has struck a deal to acquire a majority stake in Dains Accountants.

The company, which employs 765 people and has an office in Derby, has been taken over by European private equity firm IK Partners. It succeeds Horizon Capital as the majority stakeholder.

Following investment from Horizon in 2021, Dains has grown as a result of 10 strategic acquisitions and organic growth.

Going forward, with the support of IK, Dains 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.

Richard McNeilly, chief executive of Dains, said: “We are very excited to be partnering with IK, who we believe 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 and reinforce our strong position as the acquiror of choice.”