European private equity firm IK Partners has acquired a majority stake in Dains Accountants, a Birmingham-based firm. This investment marks a transition from Horizon Capital, which previously held the majority share. The financial details of the transaction remain undisclosed, but the management team at Dains is also making a significant reinvestment.

Founded in 1926, Dains Accountants specializes in providing a wide range of accounting and business advisory services tailored for small and medium-sized enterprises (SMEs) in the UK and Ireland. Their offerings include accountancy, audit, tax, corporate finance, forensic accounting, and business recovery, all delivered through senior-led client relationships.

Under Horizon Capital's investment since 2021, Dains has experienced rapid growth, driven by ten strategic acquisitions and organic expansion. Currently, the firm employs 765 staff members and serves over 17,000 clients.

With IK Partners now on board, Dains plans to sustain its robust organic growth in the UK and Ireland. The firm aims to enhance its operational capabilities and recruitment efforts while also pursuing further acquisitions to consolidate its position in the market.

Richard McNeilly, CEO of Dains, expressed confidence in IK's ability to support the company's next growth phase. He highlighted IK's experience in the accounting and professional services sectors, particularly in executing buy-and-build strategies in a fragmented market.

Pete Wilson, a partner at IK Partners, praised Dains for its strong business model and consistent client service. He noted the firm's excellent reputation among fast-growing SMEs, attributing it to the diverse range of services provided by their accounting experts.

Overall, this acquisition positions Dains for continued growth and expansion in the competitive accounting landscape of the UK and Ireland.