MHA announces AIM float to fuel £500m growth ambition
Accountancy firm MHA has announced its intention to float on AIM, in a bid to become a £500m turnover firm.
The UK arm of Baker Tilly is seeking to raise up to £125m through a share placing and £6m for retail investors.
Funds will be used to make further acquisitions and bolster MHA’s position to become a top-10 UK accounting and professional services business, targeting annual revenues exceeding £500m.
With more than 1,800 staff and 23 offices, MHA was the UK’s 13th largest accountancy firm and the joint fastest-growing UK accountancy firm of the top 20 in 2023/24.
It’s grown through multiple acquisitions, including the £30.4m purchase of Moore and Smalley in April 2024, which added 400 staff to the group.
Rakesh Shaunak, managing partner & group Chairman commented: “Announcing our intention to float on AIM marks an exciting milestone for MHA and our people – one that we believe will be best suited to the London market. Our teams have worked hard to build a high-performing, high-growth business in audit and assurance, tax, accountancy, and advisory services.
“This success has been driven by a commitment to exceptional client service, carefully selected strategic acquisitions, and continuous investment in leading talent and technology. With demand for high-quality advisory services increasing alongside rising regulatory complexity, we believe we are well positioned to strengthen our market position while continuing to serve our clients with the same dedication and expertise they expect.
“An IPO would represent the next stage in our evolution, creating a platform for further expansion while preserving the values and approach that have underpinned our success to date. It would bring together partners and new investors with a shared ambition to scale MHA faster, drive innovation, and capitalise on market opportunities.
“Crucially, it would allow us to offer equity participation to future partners and leaders, ensuring they have a direct stake in the firm’s continued growth. The additional capital would enable us to accelerate expansion and enhance our capabilities, helping us move more efficiently and sustainably towards our medium-term goal of exceeding £500 million in annual revenues.
“We look forward to taking the next steps on this journey and building on the strong momentum we have created, while continuing to deliver the highest standards of service that define MHA.”
