Xeinadin Auction Pulled After Buyers Reject £1bn Valuation

Exponent abandons £1bn sale of UK accountancy group Xeinadin

A planned sale of UK accountancy firm Xeinadin has been shelved after Exponent failed to secure bids meeting its £1bn-plus valuation expectations, according to a report by the Financial Times. The UK buyout firm backed the business four years ago, and had appointed Evercore to run an auction last summer. Xeinadin was formed in 2019 through the consolidation of more than 100 accounting firms and has continued to grow through acquisitions. It now …

Xeinadin auction pulled after buyers reject £1bn valuation

The proposed sale of UK accountancy practice Xeinadin has been paused after bids fell short of the more than £1bn ($1.36bn) valuation sought by its private equity owner, the Financial Times (FT) reported. Exponent, the UK buyout firm that invested in Xeinadin roughly four years ago, brought in Evercore last summer to run a competitive auction. People familiar with the talks told the publication that interest did not translate into offers at the …