DM Financial buys Netherlands firm Solutional

Specialist accountancy firm DM Financial is buying Dutch reporting and assurance firm Solutional in a move that will grow both businesses’ services.

DM Financial provides specialised accounting services to alternative asset managers around the world from its headquarters in Limerick.

The company confirmed that it has bought Netherlands-based Solutional, which does financial and regulatory reporting, audits and consulting for asset managers, pension and fund administrators.

Ian Doran, DM’s founder and chief executive, said Solutional had been the “pre-eminent” firm in the Netherlands in its business for the last 20 years.

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“We are combining two highly experienced teams with comparable cultures and values, as well as strengthening our continental European footprint,” he said.

Martin Stravers, Solutional co-founder, predicted that the partnership would strengthen the business.

“This transaction will improve our ability to attract more talent and grow our services across Europe,” he said.

DM Financial has 140 staff between its Limerick HQ and offices in Cork, Singapore and the Cayman Islands.

Its core businesses include specialised management accounting, corporate secretarial services, tax compliance and liquidations.

At the start of this year, DM’s clients managed total assets worth $700 billion (€698 billion).

In June last year, growth fund Synova invested in DM to aid the next phase of its growth.

Founded by Mr Stravers, Roger van den Berg and Marco van Empel in 2005, Solutional has more than 30 staff and prepares more than 30,000 financial and regulatory reports every year.