Scots accountancy firm EQ swoops on peer Douglas Home & Co marking latest consolidation deal in sector

EQ, which also currently has offices in Forfar and Glenrothes, has taken over Kelso-based Douglas Home & Co, after saying in February that it was hitting the acquisition trail and was aiming to triple turnover to more than £30 million in the next three to five years, on the back of selling a major stake in the business to industry disruptor Sumer. It now also says the latest deal, the latest seeing consolidation in Scotland’s accountancy sector and terms of which were not disclosed, boosts its office count to ten locations across Scotland and into Northern England, with a collective workforce of 210.

The transaction also sees Douglas Home & Co – which has been delivering accountancy support for more than four decades and has 80 staff across offices in Edinburgh (which it launched in 2019), East Lothian, Alnwick, and Penrith as well as the Borders – rebranding as EQ.

Craig Nicol, EQ chief executive, said: “The merger with Douglas Home & Co realises our ambitions to be a consistently progressive, successful, and growing firm. 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, MD at Douglas Home & Co, said the tie-up “isn't just about growth” but also paves the way for “exciting new opportunities”. He added: “I am also delighted that Sheryl Macaulay and Victoria Ivinson will both be taking a seat on the EQ executive board, driving future strategy.”

EQ chairman Iain Gordon 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.”