Forward supports Dains on double acquisitions

Forward is delighted to continue its relationship with Horizon backed, Dains Accountants, supporting the company on two further strategic acquisitions. Dublin based McInerney Saunders Chartered Accountants and Midlands based Magma Chartered Accountants have joined the Dains Group of businesses in a move which solidifies its position as a key player in the UK professional services marketplace.

McInerney Saunders have been providing commercial and advisory support to businesses both in Ireland and internationally for over four decades. Dains and McInerney Saunders have collaborated to serve international clients for many years and by joining forces, the enlarged group will deliver additional services to a growing client base.

Magma has championed the decision to join the Dains Group of businesses, where the new office locations provide a growing footprint to the group. The Magma offices in Leicester and Rugby knit seamlessly to the recent acquisition of Nottingham based HSKSG, pushing the influence of the group further into the East Midlands.

Forward provided financial support to Dains on the transaction. Getting involved early in the process, this included working with the teams of both target companies to collate financial data, assess historical performance and KPIs, and build fully integrated financial forecast models to feed into the banking and due diligence processes.

Commenting on the transaction Richard McNeilly, Dains CEO said: “We have looked to Forward on all our acquisitions so far to give both my team, but also the teams of the companies we are acquiring, some extra support in developing the financial data and model we need for the deal to proceed. The Forward team know our business and their work helps to streamline the process for everyone.”

Forward Corporate Finance Director, Sarah Moores, commented, “Often with off-market acquisitions the business has not been prepared for a sale so to speak. We step in very early to try and help the company to build an initial dataset into a financial model which can then be used to inform both Dains and Horizon, but also feed into other more detailed due diligence workstreams.”