Hill Dickinson has been a trusted legal advisor to Xeinadin, a leading accountancy and business advisory firm in the UK and Ireland, since 2021. Throughout this time, we have provided strategic legal advice on numerous transactions that have supported Xeinadin’s rapid growth and expansion.
Strategic private equity partnership with Exponent
Established in 2018, Xeinadin has grown to become one of the top 20 largest accountancy firms in the UK. With 130 offices across the UK and Ireland, Xeinadin has built a £200million turnover group structured into 9 regional hubs. The firm employs more than 3000 professionals and serves over 100,000 clients, primarily small and medium-sized enterprises (SMEs) and their owner-managers.
Our relationship with Xeinadin began in 2021, when we advised the firm on its strategic partnership with private equity firm Exponent. The agreement saw Exponent make a substantial minority investment into Xeinadin, facilitating the company’s ambitious growth plans and enabling it to further invest in cutting-edge data-driven technologies.
The partnership provided Xeinadin with the support it needed to embark on its ambitious expansion plans, which involved combining organic growth with a buy-and-build strategy. The deal equipped Xeinadin with the firepower to consolidate its position in the UK market, acquiring smaller, regionally focused accountancy firms, building a robust national network of firms to bolster its existing capabilities across a wider geography.
First announced in February 2022, the deal to secure Xeinadin’s investment from Exponent was led by our Manchester Corporate team, with corporate partner Ian Gillis and then legal director and now corporate partner, Sean Lightfoot acting as lead.
Since then, we have continued to partner with the Xeinadin team, acting as its legal adviser on all subsequent acquisitions. We became Xeinadin’s trusted adviser following our pragmatic and solution-focussed approach during the transaction with Exponent and we continued delivering to this high standard on all subsequent transactions and corporate matters.
Acquisition of Landmark Accountants
Xeinadin’s acquisition of Watford-based Landmark Accountants was one of the many deals we have supported it on throughout the years. Aligning with Xeinadin’s strategy of expanding its regional footprint, the deal saw it reinforce its presence in Hertfordshire, while also benefiting Landmark with the resources and support of a larger professional services group.
Hill Dickinson played a crucial role in facilitating this deal for Xeinadin as part of a string of transactions for the firm, all happening in parallel. All of the deals needed to be completed before the October 2024 budget due to widely anticipated changes to capital gains tax (CGT) and other business tax rises.
Leveraging our deep understanding of Xeinadin’s risk appetite, and by working with sellers pragmatically and commercially, we identified and prioritised key issues, streamlining the due diligence and legal processes. A single partner contact was designated across all transactions, ensuring consistency and ease of communication. Regular weekly status calls allowed the various Hill Dickinson deal teams to provide updates on the different deals in motion for Xeinadin, enabling a smooth and timely completion of the Landmark Accountants deal, among others, while maintaining the necessary legal and due diligence standards.
As Xeinadin continues to expand and innovate, Hill Dickinson is proud to have played a key role in its exceptional growth journey to date, providing the legal expertise and strategic guidance necessary to support its expansion. With the firm continuing to strengthen its market position through acquisitions and partnerships, we remain committed to delivering tailored legal solutions that help drive the firm’s success.
