Growing accountancy firm Dains Group has made its second acquisition as it looks to expand its SME advisory services across the º£½ÇÊÓƵ.
Birmingham-based Dains has acquired Barnes Roffe, itself one of the º£½ÇÊÓƵ’s top 50 accounting firms, and has taken on its 29 partners and more than 200 employees in and around London.
The deal for the 126-year-old firm means Dains has four key hubs – in the Midlands, South East, Scotland and Ireland – and bosses say it is on track to become a top 20 firm by the end of 2025. Dains will now have more than 1,000 employees.
Stephen Corner, senior partner at Barnes Roffe, said: "By partnering with Dains we are joining a firm with the same values and underlying service proposition we have been delivering to our clients for many years and together we will deliver a truly market leading proposition for our clients. Becoming part of a national firm widens our service proposition and increases the range of specialist services we can deliver whilst at the same time greatly enhancing the career opportunities for our talented team. We look forward to significantly growing the Dains business in the South East.â€
Richard McNeilly, CEO of the Dains Group, said: “We are thrilled to welcome Barnes Roffe to the Dains Group. “It’s not often we encounter such a dynamic and client-centric leadership team.
“Together, we see significant opportunities to grow our presence in the London area and expand across the º£½ÇÊÓƵ and Ireland. The addition of Barnes Roffe strengthens our national footprint and aligns perfectly with our strategy to deliver exceptional client service and outstanding career opportunities.
“With a team now exceeding 1,000 professionals, we remain committed to enhancing the value we provide to clients and investing in the development of our talented people.
“Our ambition is to work in partnership with clients, offering timely, thoughtful advice rooted in a deep understanding of their goals. This approach has underpinned Barnes Roffe’s impressive growth and makes them a natural strategic partner for our group.â€
In December, Dains Accountants won investment from IK Partners which allowed its previous private equity funder and majority shareholder Horizon Capital to exit the business.
Pete Wilson, partner at IK Partners, said:“This strategic acquisition demonstrates our ambition to continue building Dains into the leading º£½ÇÊÓƵ & Ireland SME advisory business by establishing a strong presence, led by an outstanding team at Barnes Roffe, in London and the South-East. We look forward to continuing to back further acquisitions as part of this exciting partnership.â€
Dains were advised by CMS (legal), Eight Advisory (financial and tax due diligence), Forward Corporate Finance (financial modelling), Deloitte (tax structuring), PDW (customer referencing), Cyber Crowd (IT due diligence), Mercia (technical due diligence). Barnes Roffe were advised by KPMG (corporate finance and legal).
