Dains acquires PSTAX

Dains Accountants has announced the acquisition of PSTAX and S3TAX, the public sector and not-for-profit VAT and Employment tax specialists.

PSTAX has completed 20 years in business this year, having formed in 2003.

Dains was provided financial and tax due diligence advice by DSW and legal advice by Forward Corporate Finance and CMS. Meanwhile, PSTAX was advised by DSA Prospect and Knights Solicitors.

Daines stated that its investment in PSTAX will enable the business “to continue to grow and provide even better career opportunities for its team”.

Peter Gladdish, founder of PSTAX, said: “Having been established for 20 years PSTAX is delighted to join forces with Dains as we continue to grow our market share across the UK. With Dains’ support, we will be able to provide a broader service to our clients and connect to an incredible network of advisors across the group.”

Richard McNeilly, CEO of Dains, added: “PSTAX and more latterly S3TAX, which was launched in 2022, have developed a fantastic proposition for clients’ which blends helpline support and training with first-class consultancy advice.

“The team is a great fit and although we traditionally operate in different market segments, our ethos is absolutely consistent, where we support clients and help them deliver long-term success.”

Duncan Groves, managing director of PSTAX, concluded: “Our business is built on the quality of our people and our clients. Luke Kingston, Partner at Horizon Capital, said ‘We are delighted to have supported Richard and Dains on its fourth acquisition and welcome the PSTAX team. We share everyone’s enthusiasm for the significant opportunities created by bringing the businesses together.”