LONDON – 10 February 2022: Exponent today announces that it has reached an agreement to enter into a strategic partnership with Xeinadin Group Limited (“Xeinadin” or “the Company”), one of the leading professional services groups in the UK and Ireland. This partnership will involve Exponent making a significant minority investment in Xeinadin to support the business’s ambitious growth plans

Xeinadin is a group of c.100 business advisory and accountancy practices across the UK and Ireland that provides over 40 service lines to over 50,000 clients, predominantly small and medium sized businesses and their owner-managers. It was formed through a merger of the offices in 2019 and is now structured into 14 regional hubs.

The Company has more than 1,500 employees and is one of the professional services market’s leading disruptors and consolidators, with annual revenues of over £100 million in its latest financial year.

Building on Exponent’s proven track record in the professional services sector, the investment will be used support the Company’s ambitions to grow significantly, both organically and through acquisitions, and allow it to make further investments in innovative data-driven technologies to help drive efficiencies and improve the quality, breadth and delivery of services to its clients.

Under the new ownership, Mark Taylor and Tom Lightowler of Exponent will join Xeinadin’s Board, along with John Dwyer, an Exponent Operating Partner, joining as a non-executive director. Alastair Marsh will remain as Chairman.

Mark Taylor, Partner at Exponent, commented: “Xeinadin is one of the leading consolidators in the UK and Ireland professional services landscape and has a huge opportunity in a highly fragmented market. We’ve been impressed by the work done to date by Derry and the team to build a profitable business with highly diversified sources of income, more than 95 per cent of which is recurring. We look forward to working with Xeinadin over the coming years.”

Derry Crowley, CEO, Xeinadin Group, said: “We are very excited to be heading into the next stage of our growth. We have ambitious plans and have found the right investor to support us and drive forward our ambitions. The high level of interest we received from potential investors is testament to the huge achievements made so far by everyone within the Group in integrating c.100 firms and turning them into a cohesive and collaborative unit. We have a clear vision of where we want to go in the next phase of our development and we’re confident that Exponent is going to be invaluable in helping us achieve that.”

The transaction remains subject to regulatory approvals.