Consilium Chartered Accountants, based in Glasgow, has been acquired by Dains Group, its first acquisition since securing private equity backing from IK Partners.

The move is seen as reinforcing Birmingham-based Dains’ intention to build its SME advisory business in Scotland where the combined team will number almost 200.

Following investment from Horizon Capital in 2021, it has grown rapidly as a result of 10 strategic acquisitions and organic growth.

Consilium was established in 2013 and David Holt, partner, said: “Dains approached us with a clear vision for delivering a market-leading advisory proposition for our clients, in a group that believes in providing great careers for its team.

“Upon joining the group, we enhance the range of services open to our clients and look forward to building the business in Scotland for the benefit of all our stakeholders.”

Graeme Bryson, Scotland managing partner at Dains, said: “We were attracted to Consilium because of their advisory mindset and strong cultural values.”

Richard McNeilly, CEO of Dains, added. “We are building a very compelling proposition in Scotland, having previously partnered with William Duncan & Co, and Condies.

“Our group comprises over 850 people and we are determined to continue improving the proposition for our clients and the career opportunities for our talented team.”

Pete Wilson, partner at IK, added: “It is fantastic to welcome Consilium to Dains, which represents the 11th acquisition by the group since 2021.

“Dains has a clear ambition to differentiate itself, through offering a high quality, value-adding, comprehensive suite of services for its customers, whilst engaging with the best delivery team in the SME market – I know the team cannot wait to get started.”

Dains was advised by DSW (financial and tax due diligence), Forward Corporate Finance (financial modelling), Deloitte (tax structuring) and CMS (legal). Consilium was advised by Vialex (legal).