Elsewhere, Ifac Group, the farming and agribusiness accountancy firm, bought corporate restructuring and forensic accounting specialists Friel Stafford during the summer
Anthony Casey, managing director of ETL Ireland said that the firm is in talks with “a number of other firms at the moment”
The move has almost doubled its revenue in Ireland and staff count. Total employees now stand at 43, according to the firm. The Irish accounting sector has seen a surge in dealmaking this year as overseas firms, often backed by private equity money, seek to tap into the EU’s fastest growing economy and, paradoxically, an expected increase in debt restructurings as some sectors grapple with the lingering effects of the pandemic, inflation and rising interest rates.
Fellow private equity-backed accounting firm Moore Kingston Smith took a majority stake in July in Cork-based Moore Ireland, the Republic’s ninth-largest practice with 130 employees. Moore Ireland has a mandate to invest up to €5 million in a “buy and build” expansion plan over the next three years.Cork accountancy and wealth management firm Quintas was bought in September by UK and Irish group, Xeinadin, for an undisclosed amount.
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