British accounting firm Dains Accountants has acquired industry peer Isosceles Finance to grow its market presence.

Dains Accountants maintains six offices in the Midlands region of the UK. Isosceles Finance maintains offices in the cities of Egham, Sheffield and Cambridge.

Dains Accountants was founded in 1926 and has a team of about 180 staffers. Isosceles Finance was founded much more recently, at the turn of the millennium, and has already grown to about 70 employees.

The rapid pace at which Isosceles Finance has been expanding its workforce suggests that the firm is experiencing rapid revenue growth. That rapid growth was most likely one of the main motivations behind Dains Accountants’ decision to acquire the firm. 

Also notable is the source of Isosceles Finance’s revenue. The firm says that it earns a sizable portion of its revenue from corporate clients in the tech industry.

Over the past few decades, the tech industry has emerged as an important source of revenue for many companies in the accounting sector, including the Big Four firms. Big Four member EY, for example, estimates that its audit business’ tech industry clients may collectively spend as much as $10 billion per year on advisory services.

A similar phenomenon can be observed in other segments of the consulting landscape. A prime example is the PR segment, where several of the fast-growing firms have a heavy presence in Silicon Valley or focus primarily on the tech industry.

In addition to giving Dains Accountants access to a new roster of high-value clients, the acquisition of Isosceles Finance will enable the firm to expand beyond accounting. Isosceles Finance provides not only accounting services but also assists its clients with HR, an area that can hold many revenue opportunities for a growth-minded consulting firm.

“Isosceles adds breadth to our service proposition and has developed a compelling offering for their clients,” said Dains Accountants chief executive Richard McNeilly. 

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