MHA to float next week with £269m valuation
Accountancy firm MHA is planning to raise up to £101.8m through its listing on the London Stock Exchange’s AIM market on April 15.
The UK arm of Baker Tilly will raise £95.8m through a share placing, alongside up to £6m from a retail offer, valuing the firm at a market capitalisation of £269m.
The listing will see up to 274,999,985 ordinary shares made available – a mix of existing and new shares – with 55.7% remaining in private hands post-listing.
The funds raised will support MHA’s strategy to accelerate growth through acquisitions and solidify its position as a top-10 UK accounting and professional services firm, with a target of generating over £500m in annual revenue.
While the fundraising fell short of the £125m initially sought from the share placing, the move marks a major step in MHA’s ambition to scale. The firm first announced its intention to float last month as part of its drive toward becoming a £500m turnover business.
With more than 1,800 staff across 23 offices, MHA was the UK’s 13th largest accountancy firm in 2023/24 and the joint fastest-growing among the top 20.
Its expansion has been driven by a series of acquisitions, including the £30.4m purchase of Moore and Smalley in April 2024, which added 400 staff to the group.
