ECI Partners invests in Shaw Gibbs as Apiary Capital exits accountancy group

The private equity firm supports accounting services across the UK and Ireland. ECI Partners, a mid-market private equity firm, has ...

September 9, 2026

The private equity firm supports accounting services across the UK and Ireland.

ECI Partners, a mid-market private equity firm, has announced its investment in Shaw Gibbs, a top 35 practice that provides accounting, tax, and advisory services to clients across the UK and Ireland. This investment provides a full realisation for Apiary Capital, which had supported Shaw Gibbs since 2022. Shaw Gibbs states it serves approximately 25,000 clients and is founded on a commitment to building strong, long-term client relationships.

Shaw Gibbs helps clients manage financial and regulatory environments through advisory, accounting, tax, and audit services, combining local service with technical expertise. Since Apiary Capital’s investment in 2022, the business has completed 14 acquisitions, expanding its reach throughout the UK and Ireland. Recent additions to the group include Alliotts, Martin and Company, and Crowleys DFK in Ireland.

Peter O’Connell, CEO of Shaw Gibbs, said: “This 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.”

Shaw Gibbs selected ECI as its partner for this growth phase, noting ECI’s experience with relationship-led businesses and its track record in financial services, which includes investments in KB Associates and IGG. The firm’s focus on its employee value proposition has supported its growth, fostering an entrepreneurial and collaborative culture with training, development, and progression pathways. This focus has supported employee retention rates and longevity of customer relationships.

Michael Butler, Partner at ECI, commented: “Shaw 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 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.”

Chris Heawood, Partner at Apiary Capital, added: “We are incredibly proud to have been a part of Shaw Gibbs’ journey following our initial investment almost four years ago. Since then, Peter and the wider leadership team have transformed the business, growing the team from 100 to over 800 people, while retaining a dynamic and collaborative culture, and continuing to deliver exceptional client service. We look forward to following Shaw Gibbs’ continuing growth story under ECI ownership.”

ECI was advised by Continuum Advisory Partners (M&A) and Squire Patton Boggs (Legal). Shaw Gibbs and Apiary Capital received advice from Investec (M&A) and Osborne Clarke (Legal), and Jamieson (Management Advisory). Financial terms of the investment were not disclosed.