Forward advises Dains on two further acquisitions

Forward is delighted to continue its relationship with Horizon backed, Dains Accountants, supporting the company on the acquisition of PSTAX and HSKS Greenhalgh, its fourth and fifth acquisitions since the Horizon investment.

PSTax extends Dain expertise in tax services. Founded in 2003 by Peter Gladdish, PSTAX provides VAT and employment tax services to public sector clients. In 2022 the company added S3TAX to extend their services into the not-for-profit sector. Both businesses blend helpline support with consultancy advice.

HSKSG further expands the footprint of the business across the Midlands. HSKS is one of the most respected accountancy firms in the East Midlands, with offices in Nottingham, Derby and Uttoxeter. The business has grown consistently in recent years, buoyed by a commitment to the use of technology, alongside high-quality personal and tailored relationships.

Forward provided financial support to Dains on the transactions. This included working with the management teams to collate financial data, assess historical performance and KPIs, and build a fully integrated financial forecast model to feed into the due diligence process.

Commenting on the transaction Richard McNeilly, Dains CEO said: “It made sense to continue our relationship with Forward. Their work not only gives a clear insight into the businesses before we start due diligence, but also gives the due diligence teams a detailed pack of well prepared information to work with.”

Forward Corporate Finance Director, Sarah Moores, commented, “Acquiring businesses adds a lot of extra pressure to the finance team. We have worked with Dains since the original Horizon investment, so we can step in as extra support when needed to help the process run more smoothy.”