Following a deal to join CogitalGroup through its Baldwins subsidiary, Scottish accountants Campbell Dallas and Springfords are now part of a global machine with 4,600 employees and a stated goal to become the “leading technology driven, international business services group”.

With that, they cease to be independently-owned Scottish businesses, and that – whatever the sensible reasons for assenting to acquisition – is something of a shame.

But, it is the nature of the game, and further evidence that the accountancy profession is morphing into a network of businesses within wider groups, backed by serious private equity funders.

The Big Four accountants – Deloitte, EY, KPMG, and PwC – operate as networks of smaller businesses, which maintain an element of autonomy while utilising the power of the brands behind them.

This is something which Campbell Dallas managing partner Chris Horne believes will now benefit his own firm. Campbell Dallas, since its inception in 1999, has never been shy of an acquisition.

And with Mr Horne noting that capital will be made available by its new owner, which is backed by HgCapital, the Scottish market is likely to see further consolidation as it too moves closer to a model which has proved itself so appealing in a world becoming so reliant on digital technology.