The corporate team at Irwin Mitchell has advised on a deal which sees Horizon Capital invest in Dains Accountants as part of the firm’s growth plans.
With almost 200 staff based in five locations across the Midlands, Dains provides audit, tax and business advisory services to 4,000 fast-growth companies, international organisations and high net worth individuals.
Horizon Capital is a private equity investor specialising in technology and business services, and it has invested “significant” capital to expand these capabilities and to build on “the momentum already” created following recent acquisitions.
Dains is the company’s fourth new platform investment in 2021, following those in BP3, Modern Networks and The Marketing Practice (TMP).
Nick Dawson, Irwin Mitchell corporate partner, led the deal and was supported by Matt Smith and Alexandra Bloomer. Additionally, Elaine Huttley and Laura Willis from the firm’s employment department and Sarah Cardew from the tax department also advised.
Meanwhile, Jason Zemmel and Dan Weston led a team from CMS, acting for Horizon.
Richard McNeilly, managing partner at Dains Accountants, said: “This is an exciting time for Dains, our clients and colleagues. We are delighted to be partnering with Horizon Capital who have a strong track record in supporting companies such as ours to accelerate both organic and acquisitive growth.
“Dains has grown in recent years thanks to the hard work of our colleagues and the support of our clients, and we look forward to building on that success with this investment.”
Luke Kingston, partner at Horizon Capital, added: “We are excited to invest in Dains as the company provides essential, tech-enabled services to a large universe of SMEs and high net worth individuals, both vital components of the UK economy.”