Synova-backed DM Financial snaps up Solutional

• DM Financial provides specialist accounting services to the global alternative asset management industry
• Synova has been invested in DM Financial since June 2021
• The deal expands DM Financials’ presence in continental Europe

Synova-backed DM Financial announced it has acquired Solutional, a reporting, assurance and consulting specialist for the financial sector headquartered in Voorburg, Netherlands. DM Financial is a provider of specialist accounting services to the global alternative asset management industry. The deal expands DM Financials’ presence in continental Europe.

DM Financial has been backed by Synova since June 2021. The company is headquartered in Limerick, Ireland and has 140 employees across offices in Ireland, the UK, Singapore and the Cayman Islands.

“We are combining two highly experienced teams with comparable cultures and values, as well as strengthening our Continental European footprint,” said Ian Doran, CEO of DM Financial. “The investment will support our growth ambitions of becoming one of the leading providers of reporting and assurance services to regulated financial services entities globally.”

Synova is a private equity firm headquartered in London that invests between £15 million ($17 million; €17 million) to £150 million into companies valued between £20 million and £250 million in the UK, Ireland and continental Europe. The firm manages over £1.7 billion of capital and is currently investing Synova V, a £875 million fund raised in 2022.