The professional services group, which has 23 offices in the UK, Ireland and the Cayman Islands, announced its intention to acquire BTSEE on 7 May via the London Stock Exchange
MHA has completed the €24m (£20.7m)acquisition of Baker Tilly South-East Europe (BTSEE), expanding its presence into Cyprus, Greece and the wider South-East Europe region.
The professional services group, which has 23 offices in the UK, Ireland and the Cayman Islands, announced its intention to acquire BTSEE on 7 May via the London Stock Exchange.
BTSEE employs more than 400 staff, including 12 partners, across seven offices. It reported revenues of €19.4m (£16.7m) and offers audit, tax, advisory, legal and corporate services.
Rakesh Shaunak, MHA chief executive, said: “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, BTSEE chairman, added: “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 across all of our South-East Europe offices will follow shortly.”
Writes Cynera Rodricks in Accountancy Today