Entrepreneur Feisal Nahaboo, the man who has ‘awakened a trusted profession’ to the opportunity to do more for their clients and has tripled accountancy values for over 100 accountancy firms in 2022, is now poised to do the same again with his ‘triple valuation process’—delivered through his pioneering OMMG Network.
Having created the ‘corporate miracle’ Xeinadin—a world-first 122 accountancy-firm merger—in just 256 working days, entrepreneur Feisal Nahaboo is widely renowned for his innovative and dynamic thinking.
He enjoys a reputation as one of the foremost wealth creation consultants in the UK, with over 20 years’ experience in helping accountants make substantial sums of money.
Indeed, Nahaboo commandeered the largest accountancy network of its type in the world, focusing on business solutions for accountants. As MD of the network he pioneered the concept of the ‘multi-service accountancy firm’, enabling accountants to double profits over a three-to-five year period by integrating up to 42 new service lines into their offering.
It was a process which saw him disrupt the accountancy sector between 2001 and 2013, and drive up standards and profits. So effective was this that it set a new benchmark within the accountancy industry, to the point that what once was Nahaboo’s radical solution is now the norm.
Likewise, Xeinadin—the very first ‘Overnight Multiple Merger’ (a new M&A vehicle which is the brainchild of Nahaboo)—has seen tremendous results.
The merger was created virtually ‘overnight’ in May 2019 and immediately ranked as a top accountancy firm. According to the Irish Times, Xeinadin posted revenues in May 2020 of £110.3million with £39million EBITDA (36% EBITDA)—a figure far higher than that typically seen in the sector.
All independent accountancy firms who joined the merger are set to receive substantial premium values from private investment firm Exponent following the creation of the model in May 2019 by founder Nahaboo, taking their valuation to a forecasted £320-340million.
What took Nahaboo just 256 working days to achieve would take another rival around 50-100 years.
Triple Valuation Process
Having helped over 100 accountancy practices cash in on up to treble values in 2022 alone, today Nahaboo is engaged with rendering individual independent accountancy firms with similar results through with his OMMG (Overnight Multiple Merger Group) network.
He can help a standalone small or large accountancy practice receive ‘super premium values’ through his own process. Firms being valued right now are under strict non-disclosure agreements to best protect Nahaboo’s latest methodology.
For example, he can help a £3million turnover firm receive a valuation of £6-9million through his new accountancy valuation process.
He also has the ear of over 40 independent private equity investors interested in investing 50-80 percent in individual accountancy firms overnight.
Nahaboo details his ‘triple valuation process’ thus: “Firstly, I study the firm’s P&L account, and balance sheets, and make various recommendations regarding investors.
“Secondly, I undertake an analysis of their service mix and advise accordingly. Following this, I run a Pareto analysis, scrutinise the structure of the organisation and offer advice as to different specialisms which can be offered.
“Finally, I pair a private investor with the accountancy practice.”
With this triple valuation process, a £1million turnover practice is likely to receive up to £2million cash and a balance of shares (valued at many hundreds of thousands of pounds) in their own practice to incentivise them to continue running it successfully.
Salaries and dividends are likely to exceed six figures. The strength of this idea goes beyond the financial remuneration; it also allows accountants to achieve an investment without having to exit.
They receive a huge lump of cash on signing—one that’s worth more than their business—so that they can enjoy life now while still having equity and a high, six-figure sum annual reward for running the business.
This incentivises those with the expertise and experience in the accountancy business to continue running their business at high levels of profit, thereby raising standards across the industry as a whole.
“It’s a process honed over many years,” explained Nahaboo. “I’ve invested a great deal of time with some of the city’s top brokers and private equity companies including one of the highest paid and successful city bankers, David Mortlock, the MD of Berenberg bank.
“Berenberg complete multi-billions in transactions every year—they’re the top broker in Europe.
“I am receiving many enquiries from those keen to join the OMMG network, and I make myself available to all interested parties.”
A Good Account
Those who have personal experience of working with Nahaboo cannot praise him highly enough.
Mike Caputo, of McLintocks Chartered Accountants & Business Advisors, is one voice among many: “I have been in the accountancy and audit business now for over 30 years, having had 10 years with PWC, and a further five years with Saffery Champness.
“I have seen all shapes and sizes in the accountancy world, but I have never come across such an incredible strategist (as Nahaboo).
“He sees opportunities and angles at times when others are simply holding their heads in their hands.”
Trish Grahamslaw, of accountancy firm Nickalls & Co, is equally praising of Nahaboo and the OMMG network, having worked with him for 18 months.
“Feisal has single-handedly produced a blueprint for the future of the accountancy profession and has worked with enormous energy to achieve it,” she said.
“He is energetic when others falter, and he sees opportunities where others see only impossibilities.
“He has led from the front, turning his ideas into realities, and has inspired hundreds of likeminded accountants to breathe his vision, and together achieve outcomes beyond all of our expectations.”
Jim O’Donovan, of O’Donovan Lavin, agrees, describing Nahaboo as a “visionary”.
He said: “I have known Feisal for over 16 years and his advice has always been exceptional, allowing me to improve the performance of my own practice and that of my clients.
“I have always found Feisal to be a person of impeccable personal and business ethics with boundless energy, ideas and enthusiasm.
“He sees opportunities where others see only impossibilities. He is visionary and creates dreams and allows others to live it with him.”
Terry Loring, of AccountingforTax, says that across his three-decade career he has never encountered a “more proficient, diligent and dedicated business person” than Nahaboo.
He continued: “Feisal’s vision and direction are incomparable and he is one of the most forward-thinking people I have ever had the pleasure of meeting.
“His positive attitude towards business has allowed many accountancy firms to adopt his philosophies and strategies to achieve great success. I believe we can all significantly profit with him by our side.”
Paul Bushell, of Bushells Chartered Accountants—another partner of a Xeinadin subsidiary— is similarly enthusiastic: “(Nahaboo) has a rare entrepreneurial spirit and we are privileged that he is willing to share his knowledge with all of us.
“His ability to motivate and bring new ideas and initiatives to the table is truly amazing. I would recommend him highly for his unparalleled work ethic and the results he creates for others.”
Speaking highly about Nahaboo’s working methods, Waseem Yasin of Manchester-based Riley Moss said: “Feisal develops business opportunities by identifying gaps in markets which others don’t see.
“He has an incredible talent to make his team believe and empowers them to reach targets that they would not dare to aim for without his leadership.
“I am glad that our paths crossed and we are working with Feisal on some amazing projects which are innovative, challenging but also a great deal of fun.”
Nahaboo also receives a ringing endorsement from former PWC accountant Arnold Wylie, who describes him as “a force of nature”.
He added: “In any given situation, he has an innate ability to focus on the critical factor, to divine a range of possible solutions and to hone in on the optimum path to obtain the desired outcome.
“His ability to build and shepherd a community of like-minded people is quite extraordinary and is undoubtedly a big factor in the success he has enjoyed to date.”
Maximise your value
It’s clear from the high esteem in which he is held within the sector that Nahaboo offers a path to exceptional profits and career development for those within the accountancy industry.
And his enviable reputation will only improve, if that’s possible, as more accountancy practices benefit from his OMMG movement.
As demonstrated through Xeinadin and the glowing feedback of the hundreds of independent accountancy firms that have worked with Nahaboo, he is clearly an entrepreneur with that rarest of attributes: a consistent ‘golden touch’.
So if you are an accountant wishing to treble your company’s value then enquire today for a valuation through OMMG.