Founded in 1926, Dains offers a spectrum of accounting and business advisory services. Credit: IK Partners.

Private equity firm IK Partners has sealed a deal to acquire a majority stake in Dains Accountants, a UK-based provider of accountancy and business advisory services.  

The investment has been made through the IK X Fund. It sees IK Partners taking over from Horizon Capital as the majority shareholder, with the Dains management team also reinvesting in the company.  

Financial details about the deal were not revealed. 

Founded in 1926, Dains offers a spectrum of accounting and business advisory services to small and medium-sized enterprises (SMEs) across the UK and Ireland.  

The company has senior-led client relationships and the delivers services, including Accountancy & Business Advisory, Audit, Tax, Corporate Finance, Forensic Accounting, and Business Recovery. 

IK Partners and Advisor to IK X Fund partner Pete Wilson said: “Dains is a strong business with an impressive history of delivering exceptional client services and business growth year on year.  

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“The breadth of services offered by their accountancy experts across the UK and Ireland has built an excellent reputation for Dains amongst fast-growing SMEs. With our track record in supporting similar businesses in the Business Services sector, we look forward to partnering with Richard and his team in the next phase of the Company’s journey.” 

Under Horizon Capital’s ownership since 2021, Dains has seen expansion through ten acquisitions and organic growth.  

Currently, the company has a workforce of 765, who cater to a diverse client base of more than 17,000. 

With IK Partners’ backing, Dains is set to continue its organic growth trajectory within the UK and Ireland.  

The company plans to further invest in its operational platform and hiring processes, and expedite its inorganic growth by partnering with other strong, complementary businesses throughout the region. 

Dains CEO Richard McNeilly said: “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.”