Xeinadin Group has made the second acquisition of the year taking over Clear Vision Financial Management
The Hampshire based accountancy and advisory firm was set up in 2011 by founding director and chartered management accountant Sean Daniel and has 12 members of staff including two directors.
It specialises in providing services such as outsourced finance functions, R&D tax credits, finance director and financial business strategy, accounts and tax compliance services, and pension and payroll services.
The value of the deal has not been disclosed.
The acquisition programme has been supported by an injection of capital from private equity firm Exponent in May 2022, which has financed a spate of acquisitions. Exponent has a significant minority investment in Xeinadin, which has reported fee income of £100m.
The move marks Xeinadin’s second acquisition this month, following its announcement of Poppleton and Appleby joining the group last week as the group ramps up its growth plans.
Xeinadin has a strong pipeline for continued expansion and is targeting small and medium-sized accountancy firms. The group has 120 offices across the UK and Ireland and 1,600 staff. It provides over 40 service lines to around 50,000 SME clients.
Derry Crowley, CEO, Xeinadin Group, said: ‘We are looking forward to having the Clear Vision team on board. They bring added strength in services such as R&D tax credits as well as providing an outsourced finance function for many companies. This is a great start to the year for Xeinadin and we are starting as we mean to go on, bringing in excellent firms to our group.’
Sean Daniel, director at Clear Vision, said: ‘We are proud to be joining Xeinadin Group and looking forward to the year ahead where we can share knowledge and best practice from our areas of expertise across our new group colleagues, giving us the opportunity to work with new clients as well as strengthening the portfolio of services we can offer our clients and strengthening our processes and infrastructure.’