| Date: | December 2021 |
|---|---|
| Project: | Acquisition Support |
| Sector: | Business Services |
| Role: | Financial analysis and modelling support for the acquisition |
Forward is delighted to continue its relationship with Horizon Capital, supporting the firm on its investment in Dains Accountants, its fourth new platform investment in 2021.
Led by Managing Partner Richard McNeilly, Dains employs almost 200 staff based across the East Midlands. The firm provides essential services to 4,000 fast-growth businesses, international companies and high net worth individuals helping clients achieve their goals through award-winning audit, tax and business advisory and support services.
The market that Dains operates in is highly fragmented and driven by strong tailwinds due to increasing levels of compliance and sophistication, as a result of which a growing proportion of clients are outsourcing business-enhancing tasks to expert providers. Dains has delivered market leading growth which has continued through the COVID-19 pandemic, underpinned by its reputation for quality service and the breadth of the firm’s proposition.
Horizon Capital have invested significant capital to expand these capabilities further and to enhance this through high quality acquisitions for the benefit of clients and staff alike. The partnership with Horizon will enable Dains to continue to build on the momentum already created following recent acquisitions.
Forward provided financial support to Horizon on the transaction, collating financial data, assessing historical performance and KPIs, and worked with the management team to develop a fully integrated financial model to feed into the due diligence process.