Dains Group bolsters market presence with acquisition of two strategic firms
Dains Group has announced the successful acquisition of two strategic businesses, McInerney Saunders Chartered Accountants and Magma Chartered Accountants.
The mid-market accounting firm has been on a growth trajectory, with the successful integration of HSKSG and Opto Group in 2023. The addition of Dublin-based McInerney Saunders and Midlands-based Magma Chartered Accountants further expands Dains’ presence and capabilities in key markets.
“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,” said Richard McNeilly, CEO of Dains.
The acquisitions of McInerney Saunders and Magma are not just about expanding the group’s portfolio. They represent a coming together of like-minded professionals who share common values.
This alignment of culture and values is expected to ensure a smooth integration process, creating a unified and cohesive team dedicated to achieving shared goals. “This synergy will undoubtedly result in a stronger, more versatile firm that can navigate the complexities of the ever-evolving financial landscape,” said Owen Sheehy, Managing Partner at McInerney Saunders.
The acquisitions have propelled Dains Group into the top 30 firms, with group revenues exceeding £55 million.
“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,” said Luke Kingston, Managing Partner at Horizon Capital.
Dains ranked 31st in Accountancy Age’s 50+50 in 2023, with total UK fee income of £43.9 million, a 47.5% increase from 2022.
