EQ Accountants has swooped to acquire fellow Scottish player Douglas Home & Co as part of plans to triple turnover in the next five years.

The firm said the deal would boost its turnover by 50% and its headcount to 210, with 80 moving across from the Kelso-based business. It will  increase its office footprint to 10, following the addition of Douglas Home premises in Edinburgh, Melrose, Haddington, Hawick, Alnwick, and Penrith.

Douglas Home, which was formed in 1983, will be rebranded as EQ further to the deal.

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EQ, which currently has offices in Dundee, Forfar and Glenrothes, sold a major stake to Sumer last year, providing the funds to undertake plans to triple turnover to £30 million in the next three to five years.

Craig Nicol, chief executive of Glenrothes-based EQ, said: “The merger with Douglas Home & Co realises our ambitions to be a consistently progressive, successful and growing firm. From our first conversations, it was immediately evident our working styles and cultures aligned, especially a commitment to delivering first class client services. 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, managing director at Douglas Home & Co, said: "We're incredibly motivated about the journey ahead, knowing that our shared dedication to service excellence and putting clients first will ensure a smooth transition. This collaboration isn't just about growth; it's about ensuring our clients continue to receive exceptional service without any disruptions, while also paving the way for exciting new opportunities. I am also delighted that Sheryl Macaulay and Victoria Ivinson will both be taking a seat on the EQ executive board driving future strategy.”

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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.”