MHA lines up first post-IPO acquisition

MHA, the recently-floated accountancy firm which has offices in Leicester and Derby, has revealed a £20.4m bid for Baker Tilly South East Europe.

MHA has been pursuing strategic cross-border M&A opportunities, including other existing members of the Baker Tilly International Network which are already well-known to MHA.

BTSEE is a professional services firm operating in Cyprus, Greece and South East Europe, predominantly in audit, tax, advisory, legal and corporate services. It has particular strengths within Cyprus, where it is the fifth largest accountancy firm. BTSEE has 13 Partners and approximately 400 employees.

For the 12 months ended 31 December 2024, BTSEE generated sales of £16.5m and profit before tax of £2.1m.

Geoff Barnes, chair of MHA, said: “As stated at the time of our recent IPO, strategic M&A forms a key component of our medium-term growth aspirations, and the intended acquisition of BTSEE as announced today demonstrates continued progress against our disciplined M&A roadmap. With a good understanding of both MHA and BTSEE, I believe their ambition and close strategic fit will create an even bolder organisation serving its clients and offering progression opportunities to staff. We look forward to providing a further update in due course.