Deals round-up

Condies added to Dains’ growing Scottish portfolio

Pauline Hogg: opportunity

Dains, the accountancy firm which has offices in Derby and Birmingham, has bought Scottish counterpart Condies Chartered Accountants.

Condies has offices in Dunfermline, Edinburgh and Dundee. Dains entered the Scottish market after buying William Duncan + Co (now Dains Scotland) in September 2022.

The deal marks Dains’ ninth acquisition since private equity firm invested in the company.

Pauline Hogg, managing partner at Condies, said: “Joining forces with Dains Group is a fantastic opportunity for our team and clients.”

iGii raises new funding

Stirling-based iGii, formerly known as Integrated Graphene, has raised £8.8 million and willl use the funds to accelerate customer projects, increase its manufacturing capacity, and deepen its research and development to explore further applications of its patented nanomaterial.

The funding round was led by a £4m injection from the Scottish National Investment Bank, with a further £4.8m coming from existing iGii shareholders Archangel Investors and Par Equity, both of which first invested in the business in 2020.

It follows Jean-Christophe Granier joining the business as CEO in September 2023 to enhance its commercial performance.

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