Xeinadin continues expansion into Northern Ireland with acquisition of K Magill and Co

Xeinadin, one of the leading professional services groups in the UK and Ireland, has announced that Irish firm K Magill and Co has joined the group.

A firm that specialises in providing business advisory support to small to medium sized enterprises, K Magill and Co will join one of the UK and Ireland’s largest accountancy firms shortly after Xeinadin has announced its recent brand evolution which removed ‘Group’ from its trading name.

Xeinadin is a multi-disciplinary business advisory and accountancy group with over 135 offices and 2,000 employees in the UK and Ireland. This is the 19th announcement of expansion made by Xeinadin in the last two years, aimed to support the company’s ambitious growth plans in becoming the most trusted advisor for founder-owned businesses.

In November 2023, Xeinadin was named as the 18th largest accountancy firm in the UK in the Accountancy Age 50+50 rankings and is one of the largest firms of accountants in the Republic of Ireland operating in over 30 locations across the country and has recently been shortlisted for Employer of the Year and Transformation Project of the Year at the Irish Accountancy Awards.

It’s latest acquisition will not only see Xeinadin increase its service offering to clients but also cement its position as one of the leading advisory practices in Northern Ireland.

“K Magill and Co has an outstanding reputation for being progressive and ahead of the game, something we value deeply at Xeinadin. The acquisition was a no-brainer when it came to expanding our footprint in Ireland and progressing with our mission to become the most trusted business advisory firm. We look forward to begin working with Kieran and the team,” says Derry Crowley, CEO of Xeinadin.

With more than 135 offices and over 2,000 team members employed within the group, Xeinadin is led by locally forged, trusted relationships and supported by the innovative data-driven technology, leading industry expertise, centralised back-office support and power of a collaborative international group.

 “Joining Xeinadin will enable us to continue our proactive and forward thinking approach to business advisory without compromising on the breadth of services we can offer,” says Kieran Magill, Managing Director of K Magill and Co.

“The move will help us to streamline our back office functions and expand the range of services that we can offer, whilst maintaining a personal and tailored relationship with the local and small businesses we work with.”

With 9 regional hubs across the UK and Ireland and expertise across a wide range of sectors, Xeinadin provides trusted advice forged on local foundations, to help the owner-managers of small and medium sized enterprises achieve their business and personal goals.

Market consolidation gathers pace

Almost 40 accounting firms among the UK’s top 100 bought or sold a firm in the last financial year, according to new data.

Accountancy Age’s Top 50+50 Rankings, sponsored by Source Advisors (previously known as GovGrant in the UK), saw the number of firms falling into this category rise from 31 to 38.

In 2022, almost 35% of those reporting they had sold or acquired a firm ranked in the top 20. A year later this percentage had dropped to 23%, signalling a rise in consolidation amongst mid-tier firms.

The M&A flurry also signals deep-rooted business model challenges confronting the profession as it grapples with fee pressures, talent squeezes and digital demands. Many lack the operational bandwidth or change management prowess to transform legacy practices at the pace required.

Tucking into fast-evolving acquirers represents an accelerated pathway to reinventing service delivery before external disruptors beat them to the punch.