EQ Accountants increases headcount to 210 through Douglas Home & Co merger

EQ Accountants increases headcount to 210 through Douglas Home & Co merger

Pictured (L-R): EQ CEO Craig Nicol with Douglas Home & Co directors Victoria Ivinson and Sheryl Macaulay

EQ Accountants has announced its merger with Douglas Home & Co.

Part of EQ’s expansion plan to triple its turnover in the next five years, the alliance will see the firm’s office count increase to 10 locations across Scotland and Northern England, with a combined workforce of 210 professionals.

The merger will boost EQ’s turnover by 50%, as Douglas Home & Co rebrands under the EQ banner. With a strong agricultural client base, the two firms have clear synergies that will drive future growth.

Douglas Home & Co has established a strong presence with 80 staff across southern Scotland and Northern England with offices in Edinburgh, East Lothian, Alnwick, the Borders, and Penrith, delivering accountancy support for over four decades. With a strong agricultural client base, mirroring EQ’s roster, there were clear synergies between the two firms.

EQ, which currently has offices in Dundee, Forfar and Glenrothes, sold a major stake to Sumer last year, providing the funds to execute an ambitious growth plan to triple turnover from £11 million to £30 million in the next 3-5 years.

Sumer is the UK and Ireland’s leading mid-market accountancy practice delivering professional support to small and medium-sized enterprises (SMEs) across the UK and Ireland. It is a top 15 UK accountancy practice on a mission to champion SME businesses and offer local delivery supported by national expertise.

Craig Nicol, CEO at EQ Accountants, said: “The merger with Douglas Home & Co realises our ambitions to be a consistently progressive, successful and growing firm.

“From our first conversations, it was immediately evident our working styles and cultures aligned, especially a commitment to delivering first class client services.

“We will come together as one team, one EQ sharing best practices and creating opportunities for our clients, our people and our firm”

Darren Thomson, managing director at Douglas Home & Co, said: “We’re incredibly motivated about the journey ahead, knowing that our shared dedication to service excellence and putting clients first will ensure a smooth transition.

“This collaboration isn’t just about growth; it’s about ensuring our clients continue to receive exceptional service without any disruptions, while also paving the way for exciting new opportunities.

“I am also delighted that Sheryl Macaulay and Victoria Ivinson will both be taking a seat on the EQ Executive Board driving future strategy.”

Iain Gordon, chairman of EQ, said: “The merger marks a significant milestone for both firms, solidifying our position as a leading regional player in the accounting and business advisory sector.

“Whilst Edinburgh and Lothians remain a key focus, combined resources will give us a footprint within the North of England, growing our business potential in this vibrant market and we’re looking forward to driving growth in the area.”

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