Investec has advised Shaw Gibbs on its sale to ECI Partners
About the deal
Our M&A Advisory team has advised Shaw Gibbs and its shareholder, Apiary Capital LLP, on the sale of the group to ECI Partners.
Shaw Gibbs is a top 35 practice which supports private individuals, entrepreneurial businesses, public sector/non‑profit organisations and international groups with tailored accounting, tax and advisory services. Founded on a commitment to building strong, long-term client relationships, Shaw Gibbs has established itself as one of the UK’s leading accountancy, tax and business advisory firms servicing c.25,000 clients. Combining local service, deep technical expertise and innovative solutions, the business helps clients navigate increasingly complex financial and regulatory environments through a comprehensive suite of advisory, accounting, tax and audit services.
The investment marks the next chapter in Shaw Gibbs’ growth journey and provides a full realisation for Apiary Capital, which has supported the business since 2022.
Since Apiary’s investment in 2022 the business has completed 14 acquisitions, expanding its reach across the UK and Ireland. Recent additions, including Alliotts, Martin and Company, and Crowleys DFK in Ireland, strengthened the group’s regional footprint to support clients through local relationships backed by national scale.
Shaw Gibbs’ focus on its employee value proposition has supported its growth, creating an entrepreneurial and collaborative culture, strong training and development programmes, and long-term progression pathways. This has helped support leading employee retention rates and longevity of customer relationships.
Shaw Gibbs selected ECI as its partner for the next phase of growth, recognising ECI’s experience supporting relationship-led businesses and its track record in financial services with investments including KB Associates and IGG.
“”– Edward Thomas, Managing Director, M&A Advisory at InvestecWe are delighted to have advised on the sale of Shaw Gibbs to ECI. The Shaw Gibbs team has built a standout, scaled accountancy platform during Apiary’s investment, and the Group is well positioned for continued success in an exciting and fast-evolving sector.
“”– Peter O’Connell, CEO of Shaw GibbsThis investment reflects the strength of our business, the success of our strategy, and our continued position as a firm of choice for talented people, clients and high-quality firms looking to join us. With Apiary Capital’s support, we have built a market leading accountancy firm, and I am excited to partner with ECI for this next stage of our growth. They understand our focus on culture and clients and offer hands on support for continuing to invest in in the team and innovation through technology, which will support further sustainable growth. This is an important milestone for Shaw Gibbs, and I’d like to take this opportunity to thank the whole team.
“”– Michael Butler, Partner at ECIShaw Gibbs stood out to us as one of the most client-centric businesses in the accountancy space, with the platform to scale their consistently high-quality service. Their breadth of service offering, culture and employee proposition, on top of a track record of integrating high-quality businesses, gives them an excellent platform for further growth. We’re excited to work with the management team to deliver on that opportunity together.
About ECI Partners
ECI Partners is a mid-market private equity firm that provides collaborative support to growth-focused management teams. For 50 years and in over 250 deals, ECI has built a reputation for being straightforward to work with and fully aligned with the leadership teams it backs, helping to deliver exceptional results. Managing funds of approximately £3bn, ECI invests in businesses valued up to £350m, taking either majority or minority positions. Its growth-focused approach is supported by deep in-house capability, helping management teams with areas such as market entry strategies organically or through M&A, employee engagement, and scaling technology platforms.
About Apiary Capital
Apiary Capital is a UK private equity firm investing in the education, healthcare, financial, business and technology services sectors. The firm seeks to acquire platform companies in attractive markets and supports management teams to accelerate growth. Apiary Capital closed its second fund at £240m in April 2024.
