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Xeinadin group consolidating firms in UK & Ireland

Xeinadin group consolidating firms in UK & Ireland

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Any members in practice following this? Speaking to an accountant in Ireland and he told me that several firms have signed up to this and they appear to be making in roads in the UK. The story doesn't seem to have traction on accountingweb which is surprising, does anyone know what exactly the business model is i.e. what it the hook and what is the exit? Sounds like they are trying to become a Big 4 firm in a short space of time. My guess is that they will list on AIM to raise finance to buy out these firms but wasn't something similar like this done in previous years? 

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By justtoconfirm
20th Jun 2019 13:02

No answers but was just about to ask the same questions! Seen a few press releases quoting 120 firms signed up?!

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By Tickers
21st Jun 2019 15:02

justtoconfirm wrote:

No answers but was just about to ask the same questions! Seen a few press releases quoting 120 firms signed up?!

Doesn't seem to be getting much traction outside of the press releases.

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Mark Lee 2017
By Mark Lee
26th Jun 2019 14:30

Yup. Press releases assert the idea is to compete with the big 6 big firms. Apparently we'll hear more in July.

Despite a number of award winning firms signing up I'm as cynical as ever that the ambitions of the founder will be achieved or that all those signing up will get anything like the hoped for returns.

If they do then the investors will have to wait a long time to get their returns.

Incidentally the man behind this seems to be Feisal Nahaboo who created Probiz.

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