Dains Group has marked a significant milestone with the successful acquisition of two strategic entities, namely McInerney Saunders Chartered Accountants and Magma Chartered Accountants.
This move follows the firm’s growth trajectory, which included the successful integration of HSKSG and Opto Group in 2023. The addition of these two key businesses, based in Dublin and the Midlands respectively, further strengthens Dains Group’s presence and capabilities in pivotal markets.
Richard McNeilly, CEO of Dains, expressed his enthusiasm about the expansion, stating, “Our Midlands presence is substantial, and we are delighted to welcome the Magma team to Dains Group. Ireland is a dynamic and growing market, and today’s announcement positions us to better serve our clients with enhanced expertise and local insights.”, reported Accountancy Age.
The acquisitions of McInerney Saunders and Magma extend beyond a mere expansion of Dains Group’s portfolio. They signify the convergence of like-minded professionals who share common values. This alignment of culture and values is anticipated to facilitate a seamless integration process, fostering a unified and cohesive team committed to achieving shared objectives. Owen Sheehy, Managing Partner at McInerney Saunders, remarked, “This synergy will undoubtedly result in a stronger, more versatile firm that can navigate the complexities of the ever-evolving financial landscape.”
With these strategic acquisitions, Dains Group now ranks among the top 30 firms, boasting group revenues exceeding £55 million. Luke Kingston, Managing Partner at Horizon Capital, the investment firm associated with Dains Group, highlighted the positive trajectory, stating, “Since our first investment, the Dains Group has moved steadily through the Accountancy Age rankings. The acquisitions of McInerney Saunders and Magma significantly propel the Group on their growth trajectory.”
In the 2023 Accountancy Age’s 50+50 rankings, Dains secured the 31st position, with a remarkable total UK fee income of £43.9 million, reflecting a substantial 47.5% increase from the previous year. The strategic acquisitions underscore Dains Group’s commitment to expansion, strengthening its position as a prominent player in the competitive landscape of chartered accountancy.
ABOUT DAINS ACCOUNTANTS LIMITED
As an independent firm of chartered accountants and business advisers, Dains, established in 1926, is dedicated to providing specialised support to growing SME businesses. In 2021, Dains Accountants successfully secured a substantial investment from Horizon Capital, a private equity investor specialising in technology and business services. This strategic partnership with Horizon positions us to capitalise on the momentum generated by our recent acquisitions.
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