The transaction, valued at up to '24m, includes '6.5m in cash and '17.5m in shares. MHA said 10% of the total purchase price will be allocated to employees of the acquired business, which operates across Greece and Cyprus with a workforce of nearly 400 professionals. The acquisition comes amid a wave of consolidation across the accountancy sector, spurred by rising private equity interest in the recurring revenues and margin stability of professional services firms. While MHA opted to go public rather than sell equity to private investors, its US counterpart recently sold a majority stake to a private equity consortium and later announced a merger with Moss Adams. Baker Tilly South East Europe generated '19.4m in revenue and '2.5m in pre-tax profit in 2024. The deal boosts MHA's presence in continental Europe and aligns with its post-IPO strategy of driving growth through acquisitions. Geoff Barnes, chair of MHA, said, 'Strategic mergers and acquisitions are a key component of our...
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