Latest news with #Xeinadin
Yahoo
26-05-2025
- Business
- Yahoo
Xeinadin reportedly gearing up for £800m private equity sale
UK professional services firm Xeinadin is preparing for a sale exceeding £800m (approximately $1.1bn) to private equity investors, The Times has reported. The firm, backed by UK-based private equity entity Exponent, has engaged Evercore's investment banking advisers to initiate the auction process. The auction is anticipated to commence in the coming weeks. Xeinadin was established in 2019 through the merger of over 100 accounting firms. The company, which employs a workforce of 2,000 people, offers a range of professional services including auditing, corporate finance, and tax work. It primarily serves small and medium-sized enterprises. Xeinadin has over 130 offices spread across London, Yorkshire, the Midlands, and Ireland. Citing sources, the publication said Xeinadin's earnings before interest, taxes, depreciation, and amortisation (EBITDA) stand at approximately £60m. Citing bankers, the publication added that accounting firms can command an EBITDA multiple of up to 14 times, potentially valuing Xeinadin at over £840m. Despite this, some others suggested the final sale price might fall short of these estimations. The company has pursued an aggressive expansion strategy, acquiring additional firms and consolidating them under the Xeinadin brand. The professional services firm has broadened its operations in the UK through the acquisition of accountancy firms JCS Accountants and Mudd Partners in April. In March this year, the firm also snapped up London-based Raffingers, building on the acquisition three Haines Watts offices in Grimsby, Scunthorpe and Hessle, UK in October last year. In a similar deal within the sector, Evelyn Partners divested its Professional Services business to funds advised by British private equity firm Apax in November 2024. "Xeinadin reportedly gearing up for £800m private equity sale" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
20-05-2025
- Business
- Irish Times
Xeinadin acquires Irish KBG Accountants as part of €40 million investment
Professional services firm Xeinadin has acquired Cavan-based KBG Accountants, as part of its plans to grow the group's 'presence in the midlands'. KBG Accountants, with a team of more than 80 professionals across six offices, has been acquired for an undisclosed sum as part of an ongoing €40 million, 18-month Irish expansion plan by Xeinadin. So far, the company has allocated 75 per cent of that investment budget to recent and future acquisitions, such as the purchase of Dublin-based Warren & Partners in March. The acquisition of KBG is the Xeinadin's largest purchase in Ireland to date and joins Cavan-based McIntyre and Co and Leitrim's Healy Martin which were purchased by KBG in 2022 and 2024 respectively. READ MORE KBG, which was founded more than 30 years ago, is based in Cavan, Longford and Leitrim and provides accounting, audit, tax, and advisory services to businesses and individuals. It is one of the largest independent accountancy practices in the region. In a joint statement announcing the acquisition, Xeinadin chief executive, Derry Crowley, said the company wanted to grow its presence in the midlands. He described KBG Accountants as a 'highly respected firm nationally' and said the partnership forms part of the Xeinadin's 'strategic growth in Ireland' in which they are hoping to build a network of local firms within the group. Senior partners at KBG, Paddy Keavney, Ciaran Brady, and Mark Reilly said in a joint statement that the move was an 'exciting development for our firm, our team, and our clients'. Despite joining a larger organisation, the partners said they would be able to retain their 'trusted local presence' while benefiting from Xeinadin's larger network across Ireland and the UK, in which it employs more than 2,000 professionals.
Irish Examiner
20-05-2025
- Business
- Irish Examiner
Cork-headquartered Xeinadin acquires KBG Accountants as €40m investment strategy continues
Xeinadin has acquired Irish accountancy firm KBG Accountants in what is the professional services firm's largest acquisition in Ireland to date. KBG was founded more than 30 years ago and employs more than 80 people at six offices in Cavan, Longford, and Leitrim, providing accounting, audit, tax, and advisory services to businesses and individuals. KBG itself had made significant acquisitions in recent years, with McIntyre and Co in Cavan joining in 2022 and most recently Healy Martin based in Leitrim joining KBG in 2024. In June last year, Xeinadin announced plans to invest €40m in Ireland over an 18-month period and this move reinforces those plans. KBG is the second firm to join Xeinadin in 2025 with Dublin based Warren & Partners joining in March this year. 'KBG is a highly respected firm nationally with a strong track record of client service, deep local roots, and a progressive mindset. We wanted to grow our presence in the midlands and KBG were a perfect fit - their experienced team and client-centric ethos closely aligns with our values at Xeinadin and we are delighted to have them as part of our team of experts," said Xeinadin chief executive Derry Crowley. 'This partnership marks another step in our strategic growth in Ireland as we continue to build a network of high-quality firms that provide expert, local advice supported by national and international expertise.' In a joint statement, Senior Partners at KBG Paddy Keavney, Ciaran Brady and Mark Reilly said joining Xeinadin will give the company access to broader expertise and deeper capabilities Xeinadin provides across Ireland and the UK. 'The world of business advisory is changing rapidly and having access to the tools, technologies, and resources of the wider Xeinadin organisation will allow us to serve our clients more effectively.'
Yahoo
08-04-2025
- Business
- Yahoo
Xeinadin acquires JCS Accountants and Mudd Partners
Xeinadin, a UK professional services firm, has broadened its operations in South England through the acquisition of accountancy firms JCS Accountants and Mudd Partners. JCS Accountants is based in Sutton, Surrey while Mudd Partners in based in Essex. According to Xeinadin, the integration will enhance collaboration across its Southern offices, facilitating resource sharing and access to specialist expertise in areas such as auditing and digital solutions. JCS Accountants, established in 1927, primarily caters to charities and family-owned businesses. JCS Accountants director Dick Haffenden said: 'Xeinadin is a firm that shares our values of delivering a complete package of services whilst maintaining a high-quality and collaborative client service. 'By joining forces with the Xeinadin team, we not only strengthen the services we can offer to our clients but also provide our staff with the opportunity to benefit from the resources and collaborative network of a larger organisation. We are confident this will allow us to better meet the changing needs of our clients and build on the strong foundations we have already established.' Mudd Partners, which was fully integrated and rebranded under the Xeinadin name in January 2025, works with owner-managed businesses and offers audit services. The firm's client base has grown steadily through referrals, contributing to its strong position in the Essex market. Xeinadin stated that both firms' teams will now be positioned to leverage the wider network's service capabilities and technological resources. The move is part of Xeinadin's broader growth strategy to deepen its presence in entrepreneurial hubs across the UK. The financial details of the transactions were not disclosed by the firms. Xeinadin CEO Derry Crowley said: 'Mudd Partners and JCS Accountants have built strong reputations in the South of England by providing businesses and charities with the tailored support they need to succeed in a competitive regional economy. 'We welcome Mudd Partners LLP and JCS into Xeinadin and look forward to building on their nearly century-long legacies of trusted service, while ensuring that their clients continue to receive tailored financial guidance - now backed by the full strength of Xeinadin's resources and national network.' "Xeinadin acquires JCS Accountants and Mudd Partners" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
