Growth investor Synova is delighted to announce an investment into Doran + Minehane Limited (“D+M” or the “Company”), a leading provider of specialist accounting services to the global alternative asset management industry. Synova will partner with D+M by providing additional capital to support the Company’s continued development and growth. As part of the transaction, Paul Elliott will join the Board of D+M as Chairman.
D+M was founded in Limerick and Cork, Ireland in 2007 with a focus on providing financial reporting and accounting services for the alternative asset management sector. The Company has since expanded both its service offering and geographical presence, and now serves clients out of five offices in Ireland, Singapore, and most recently the Cayman Islands. Today D+M offers six service lines: Financial Reporting, Management Accounting & Corporate Secretarial, Taxation Compliance, Liquidation, Assurance Services, and SME Accounting.
The Company’s client base includes some of the largest investment managers and fund administrators globally, which is a testament to its unique offering, deep technical capabilities, and high-quality service.
D+M operates in the fast growing corporate services and fund administration market as a specialist provider to the alternative asset management industry. Alternative asset classes have been attracting an increasingly large share of global AUM, and this growth is projected to continue. Positive market fundamentals, coupled with the increasing regulatory burden and operating complexity for asset managers, present further opportunities for service providers such as D+M.
Synova will support D+M to deliver on ambitious plans, built upon continued growth of their core offering alongside organic expansion into new geographies. D+M will also benefit from additional funding from Synova to unlock selective strategic acquisitions to further both service line and geographical expansion.