An accounting firm is gaining popularity again as it expands its footprint in Scotland

Dains, an accountancy firm with offices in Derby and Birmingham, has bought Scottish equivalent Condies Chartered Accountants.

Condies has offices in Dunfermline, Edinburgh and Dundee. Dains entered the Scottish market following the purchase of William Duncan + Co (now Dains Scotland) in September 2022.

The deal marks Dains’ ninth acquisition since the private equity firm invested in the company.

Pauline Hogg, managing partner at Condies, said: “Joining forces with the Dains Group is a fantastic opportunity for our team and clients. We are excited about the synergies this partnership will bring and the increased opportunities we can offer. Our customers will benefit from the Dains Group’s extensive resources and expertise, while receiving the personalized service they value.”

Graeme Bryson, managing partner of Dains Scotland, added: “This acquisition represents a significant step in our growth strategy, enabling us to expand our footprint in Scotland and leverage the exceptional talent at Condies. Together we are well-positioned to offer our clients an even wider range of services. I look forward to working with Pauline as joint managing partner of Dains Scotland.”

“We are proud to welcome Condies to the Dains family,” said Richard McNeilly, CEO of Dains Group.

He added: “Extending on the incredible work done by Graeme Bryson and the Dains Scotland division is a fantastic opportunity. Pauline and the Condies team provide the blueprint for an ideal acquisition with a complete focus on customer service, supported by exceptional talent. Working alongside the group, the team has the incredible opportunity to offer our clients an even wider range of services.

Luke Kingston, managing partner at Horizon Capital, said: “This is another example of an excellent expansion of the Dains group and we are delighted to have supported Richard and the team with this acquisition. With group revenues now exceeding £70 million, it is clear that Dains is one of the leading operators in its industry.

Dains was advised by DSW (financial and tax due diligence), Forward Corporate Finance (financial modeling), Deloitte (tax structuring) and CMS (legal). Condies was advised by Curle Stewart (lawyer).