Today’s news in brief – 28/2/2024

Xeinadin Group has acquired David Cadwallader and Co, an accountancy firm in Bicester. This marks Xeinadin's 18th expansion since receiving investment from Exponent two years ago. The acquisition enhances David Cadwallader and Co's capabilities with centralized back-office support and an extended service offering. The move aligns with Xeinadin's growth plans, reflecting shared values. David Cadwallader, Managing Director, sees the partnership streamlining back-office functions and expanding services without losing the personal and local approach. Scottish accountancy firm EQ is aiming to triple its turnover over five years following a significant stake sale to Sumer. EQ joins Sumer, becoming its first Scottish practice and ninth in the UK. The partnership allows EQ access to 1,000 colleagues across 40 offices while maintaining local expertise. With funds from Sumer, EQ plans acquisitions and projects to triple its turnover from £11m to £33m. Internal restructuring includes appointing Craig Nicol as CEO, focusing on growth opportunities. Sumer, backed by Penta Capital and BlackRock, aims to triple in size within two years. Grant Thornton has promoted Will Rose to Director in its corporate finance advisory team covering the Thames Valley and Southampton. Operating from the Reading office, Rose will lead mid-market transactions, especially in the TMT sector. With over 15 years of professional services experience, Rose's promotion aims to support regional businesses with excellent advice. Rose emphasises the thriving business community in the region, expressing excitement about Grant Thornton's plans. Peter Jennings, Head of Corporate Finance, praises Rose's success and highlights Grant Thornton's focus on building a market-leading team. UHY Manchester's CEO, David Kendrick, and Corporate Finance Partner, Peter Williams, have participated in the ROC Challenge to raise £20,000 for Manchester Children’s Hospital. The funds aim to purchase a new mini-bus and life-saving equipment. The hospital, the UK's largest and busiest children's hospital, plays a crucial role for UHY Manchester's employees. The ROC Challenge, an ultra-triathlon, includes a sea swim, bike ride, Snowdon hike, and run. Kendrick expresses the firm's commitment to making a significant difference in the community by supporting the hospital's charity.