IK Partners to Acquire Majority Stake in Dains
Deal News | Dec 16, 2024 | IK Investment Partners (IK Partners)
In a significant development in the accountancy sector, IK Investment Partners (IK Partners) has announced the acquisition of a majority stake in Dains Accountants through its IK X Fund, succeeding Horizon Capital as the majority shareholder. Dains, founded in 1926, provides a wide range of accounting and business advisory services to SMEs across the UK and Ireland and has experienced rapid growth due to ten strategic acquisitions and robust organic growth following investment from Horizon Capital in 2021. With over 765 employees serving more than 17,000 clients, Dains is poised for further expansion under IK’s stewardship, focusing on continued organic growth, operational investment, and strategic acquisitions. The management team at Dains, led by CEO Richard McNeilly, is reinvesting alongside IK, highlighting confidence in the partnership with hopes to drive consolidation in the fragmented marketplace. IK Partners, with extensive experience in the business services sector, looks forward to supporting Dains' long-term growth strategy. During the transition, Horizon Capital acknowledges the success of their investment and the solid foundation it has established for the company's future.
Sectors
- Accounting & Audit Services
- Business Advisory Services
- Private Equity
- Mergers & Acquisitions
Geography
- United Kingdom – Dains is primarily based in the UK, and the investment by IK Partners also focuses on this region.
- Ireland – Dains also serves clients in Ireland, and future growth strategies are directed towards this geography as well.
Industry
- Accounting & Audit Services – The article is centered around Dains Accountants, a company that provides comprehensive accountancy and auditing services.
- Business Advisory Services – Dains also offers business advisory services, providing strategic and financial guidance to its clients.
- Private Equity – This sector is involved as IK Partners, a private equity firm, is making the investment.
- Mergers & Acquisitions – The investment and the mention of rapid growth through acquisitions highlight the relevance of the M&A sector.
Financials
- Not disclosed – The financial terms of the transaction between IK Partners and Dains have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IK Partners | Bidding Company/Buyer | Company | IK Partners, a private equity firm, is acquiring a majority stake in Dains. |
| Dains Accountants | Target Company | Company | An accountancy and business advisory company serving SMEs in the UK and Ireland. |
| Horizon Capital | Selling Company/Vendor | Company | A private equity firm previously holding a majority stake in Dains. |
| Richard McNeilly | CEO of Dains | Person | CEO of Dains, overseeing the company's operations and involved in the investment strategy. |
| Pete Wilson | Partner at IK Partners | Person | IK Partners partner and advisor to the IK X Fund, involved in the acquisition of Dains. |
| Luke Kingston | Managing Partner at Horizon Capital | Person | Managing Partner at Horizon Capital, previously overseeing the investment in Dains. |