Wed, 03 Sep 2025 | BUSINESS SALE
Dains Group, a private equity-backed accountancy and advisory services provider, has acquired a specialist consultancy based in the East Midlands. Dains Group’s acquisition of TBAT Innovation is the group’s third acquisition since securing backing from IK Partners in December 2024.
TBAT Innovation, which was founded in 2002, helps businesses to access tax incentives for research and development (R&D), grant funding and innovation support. The firm has built a reputation for providing advice to businesses across sectors including software, health and life sciences, engineering and AI.
It is expected that TBAT’s expertise in optimising R&D claims, navigating complex innovation incentives and unlocking funding will enhance Dains Group’s tax and advisory services and strengthen its ability to help clients in achieving their goals.
TBAT’s team, which is primarily based in Castle Donnington, with a number of consultants working remotely across the UK, will continue to operate under the existing leadership team, comprised of Managing Director Ryan Mouncy, founder and Commercial Director Sam Stephens and Finance Director Elaine Williams.
Dains Group Chief Executive Richard McNeilly commented: “TBAT’s leadership team shares our client-centric mindset and commitment to delivering valuable advice. Its expertise in R&D tax incentives, grant funding, and innovation support will not only strengthen our specialist tax and advisory services, but also open new opportunities for clients to access funding that fuels growth.”
“With a proven track record, deep sector knowledge, and a strong partner network, TBAT provides an exciting platform for expansion across the UK.”
TBAT founder and Commercial Director Sam Stephens said that joining Dains would enable the company to bring its expertise in unlocking funding to an even wider client base, “supported by the strength and reach of a respected national advisory firm.”
He continued: “Both teams share a commitment to building lasting relationships, delivering clear, pragmatic advice, and putting clients’ ambitions at the heart of everything we do. Together, we’re in a stronger position than ever to support businesses across the UK in turning ideas into successful, sustainable growth.”
Read more about M&A in the accountancy sector
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This directly authorised firm presents a unique opportunity, managing approximately £160 million of Funds under Management with a strong client base mainly around the M25.
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