Wed, 18 Oct 2023 | BUSINESS SALE
Professional services group Xeinadin Group has continued its rapid M&A-led growth, completing its 15th acquisition since it was backed by private equity firm Exponent last year. The group has acquired Leicester-based accountancy firm Alacrity Accountancy.
Alacrity has been operating for 20 years and serves clients across an array of industries, including property, healthcare and dentistry, both in the UK and internationally. It specialises in all aspects of general accountancy practice, including taxation, accounts, business advisory and support services.
The acquisition marks another milestone in Xeinadin’s rapid expansion since it received Exponent’s investment. The group, which had already established a major UK presence as a consolidator in the business advisory and accountancy markets prior to Exponent’s backing, now has more than 135 locations across the UK and Ireland, with a team of over 1,800 employees providing more than 40 service lines to the group’s significant client base.
Xeinadin has more than 60,000 clients spread across the UK and Ireland, with its base largely comprised of small and medium-sized businesses (SMEs) and their owner-managers.
Also read: Private equity group’s £1bn sale of Xeinadin accounting group collapses
Xeinadin Group Chief Executive Derry Crowley commented: "Welcoming Alacrity Accountancy under the Xeinadin Group is another great step forward in establishing our continued growth. With a laser-eyed focus on the needs of SMEs, Alacrity's quality of services and clientele are an excellent fit for what we expect across the group. We look forward to working with the team."
Alacrity Accountancy founder and Director Viren Kotecha said that the deal would expand upon the two companies’ “shared vision of providing exceptional local accountancy services to owner-managed businesses.”
Kotecha added: "With the support and knowledge that will be available as part of the network of 135 offices, we will be able to improve and increase the level of services offered to our clients to assist them with their goals."
Find out more about M&A trends in the UK's professional services sector
Read about how accounting firms are expanding their services through acquisitions
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