Forward support Dains on acquisition eight and nine

Forward Corporate Finance is delighted to continue its relationship with Horizon backed Dains Accountants, supporting the management team on the acquisitions of CRS VAT and Condies.

As NHS VAT specialists, CRS VAT has become a leading VAT service provider for the sector, delivering increased VAT recovery and tailored advisory services. The team is a natural fit, complementing Dains’ expertise in providing services to the Public Sector following the acquisition of P S Tax in 2023.

Condies is one of the most respected and established accountancy firms in Scotland, with offices in Dunfermline, Edinburgh and Dundee. Together with the team in Dains Scotland (formerly William Duncan + Co) which was acquired by the Group in September 2022, the acquisition of Condies reinforces the Group’s commitment to providing exceptional compliance and advisory support across a broadening geographic footprint.

Forward provided financial support to Dains on the transaction. This included working with the CRS VAT and Condies teams to collate financial data, assess historical performance and KPIs, and build a fully integrated financial model to feed into the due diligence process and group modelling.

Commenting on the transaction Richard McNeilly, Dains CEO said: “Working with Forward allows us to streamline the process. They work with the businesses to collate the initial data into a financial model allowing us to get some early insight and comfort, as well as providing a starting point for more detailed due diligence.”

Forward Corporate Finance Director, Sarah Moores, commented, “Dains are moving quickly with their acquisition plan, building out their capabilities and geographical footprint. It was a pleasure to be able to support Richard and his team through the process.”

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