Yesterday MHA completed the acquisition of Baker Tilly South-East Europe (BTSEE) in a deal valued at €24 million. Please see here for a link to the RNS statement.
MHA which has 23 offices in the UK, Ireland and the Cayman Islands had previously announced on 7 May to the London Stock Exchange (LSE) the intention to make the acquisition.
Baker Tilly South-East Europe is a leading professional services firm with 12 partners and more than 400 professionals in seven offices across Cyprus, Greece and the wider South-East Europe region with recently reported revenues of €19.4m. It provides a comprehensive suite of services, including audit, tax, advisory, legal and corporate services.
Rakesh Shaunak, CEO of MHA, says: “As we said at the time of our recent IPO, strategic M&A forms an important component of our medium-term growth aspirations, and our acquisition of BTSEE completed today is a key milestone in MHA establishing a significant presence in Continental Europe. I am delighted to welcome all our new colleagues into the MHA family. This will enable us to further develop our footprint in key strategic locations.”
Marios. A Klitou the newly appointed Chairman of Baker Tilly South East Europe comments: “Now the deal with MHA is formally confirmed, BTSEE has an opportunity to grow and develop even further in the region in the months and years ahead with a particular emphasis on expanding our existing work with financial services companies and public interest entities. Further exciting news on developing our scope of services and our physical footprint in Cyprus and Greece will follow shortly.”
