New acquisitions for Rialto

Friday 07 April 2023

Boutique private equity firm Rialto has announced the acquisition of an accountancy practice and company secretarial business.

The firm is taking on Chartered Accountancy practice, ICN Toole & Co, and Class O Trust Company Business, Dumaresq Secretaries. 

The companies were acquired from Catherine Day and Denis Thérézien, both of whom will remain with the business for the foreseeable future. 

The deal marks the sixth acquisition for the boutique private equity firm, having acquired Maillard and Co, Purpose, Moore Properties, Signtech and Shooht since they began in October 2020. 

This latest acquisition for Rialto will form part of Purpose.

Rialto Partner Luke Smith (pictured top) commented: “Denis and Catherine’s practice is a trusted and long-standing player in the accounting industry. 

"By combining ICN's services with the more traditional accountancy work that Purpose does, we have the synergy to build a business that can very cost and tax effectively get local businesses’ and residents’ accountancy and tax requirements, all sorted.” 

Catherine Day, Director at ICN Toole, added: “We’re looking forward to working with Luke, Julie, George and the team at Hope Street. We are also excited for our clients who will now have access to a whole host of other services which we have never provided before.”