Accountancy firm Dains has said the successful completion of two further strategic acquisitions represents a significant milestone in its growth story.
Dublin-based McInerney Saunders Chartered Accountants and Magma Chartered Accountants, from Rugby, have joined the Dains Group of businesses in a move which solidifies its position as a key player in the UK professional services marketplace.
Dains and McInerney Saunders have collaborated to serve international clients for years and by joining forces, the enlarged group will deliver additional services to a growing client base.
Owen Sheehy, Managing Partner at McInerney Saunders, which has been running for over three decades, said: “The uniformity of the firms’ culture combined with the expertise of our teams will create a powerhouse of financial knowledge and capabilities.
“Joining the Dains Group allows us to leverage their extensive resources, cutting-edge technology, and deep industry insights to enhance the value we bring to our clients.
“This synergy will undoubtedly result in a stronger, more versatile firm that can navigate the complexities of the ever-evolving financial landscape.”
The deal with Magma, which has offices in Leicester and Rugby, fits well with the recent acquisition of Nottingham-based HSKSG, pushing the influence of the group further into the East Midlands.
Magma Managing Director Mark Tuckwell said: “We are excited to join forces with the Dains Group and bring our collective expertise to a broader audience.
“Our shared values and commitment to client satisfaction make this integration a natural fit.
“We look forward to the opportunities and growth that lie ahead as we embark on this new chapter together.”
Richard McNeilly, CEO of Dains, said: “We enter 2024 with terrific news. During 2023 we experienced strong organic growth, and successfully integrated colleagues from HSKSG and Opto Group in to the Dains Group.
“Today marks a significant milestone in our growth story and underscores our commitment to expanding our presence and capabilities in key markets.”
He added: “Simultaneously, the acquisitions of McInerney Saunders and Magma are not only strong additions to the group, but a coming together of like-minded professionals who share common values.
“This alignment of culture and values will ensure a smooth integration process, creating a unified and cohesive team dedicated to achieving shared goals.”
Dains, which was founded in Lichfield in 1926 and also has offices in Stoke-on-Trent and Burton upon trent, has a team of over 650 people working in offices throughout the UK and Ireland.
Luke Kingston, Partner at private equity investor Horizon Capital, said: “Since our first investment, the Dains Group has moved steadily through the Accountancy Age rankings, and we expect that the group is now placed amongst the top 30 firms with Group revenue in excess of £55 million.
“The acquisitions of McInerney Saunders and Magma further propels the Group on their growth trajectory as well as being the catalyst for a mutually co-operative relationship, completely aligned with our long-term growth strategy.”
