UK professional services firm Xeinadin is preparing for a sale exceeding £800m (approximately $1.1bn) to private equity investors, The Times has reported.
The firm, backed by UK-based private equity entity Exponent, has engaged Evercore’s investment banking advisers to initiate the auction process.
The auction is anticipated to commence in the coming weeks.
Xeinadin was established in 2019 through the merger of over 100 accounting firms.
The company, which employs a workforce of 2,000 people, offers a range of professional services including auditing, corporate finance, and tax work.
It primarily serves small and medium-sized enterprises.
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By GlobalDataXeinadin has over 130 offices spread across London, Yorkshire, the Midlands, and Ireland.
Citing sources, the publication said Xeinadin’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) stand at approximately £60m.
Citing bankers, the publication added that accounting firms can command an EBITDA multiple of up to 14 times, potentially valuing Xeinadin at over £840m.
Despite this, some others suggested the final sale price might fall short of these estimations.
The company has pursued an aggressive expansion strategy, acquiring additional firms and consolidating them under the Xeinadin brand.
The professional services firm has broadened its operations in the UK through the acquisition of accountancy firms JCS Accountants and Mudd Partners in April.
In March this year, the firm also snapped up London-based Raffingers, building on the acquisition three Haines Watts offices in Grimsby, Scunthorpe and Hessle, UK in October last year.
In a similar deal within the sector, Evelyn Partners divested its Professional Services business to funds advised by British private equity firm Apax in November 2024.
