MHA, the UK member of Baker Tilly International, has agreed to acquire Moore Stephens and Moore Stephens Consulting, known collectively as MS UAE.
MHA expects to pay total consideration of £7.4 million ($9.8 million) under the terms of the agreement.
The acquisition aims to support MHA’s goal of expanding its international reach by targeting select cross-border growth opportunities.
MS UAE was founded in 1999 and provides audit, tax and advisory services to clients in sectors including financial services, manufacturing, real estate, construction, logistics, oil and gas, trade groups and various government agencies.
The company’s headquarters are located in Dubai with additional offices in Abu Dhabi, Abu Dhabi Global Market, Sharjah, Jebel Ali Free Zone and Hamriyah Free Zone.
It is authorized to provide professional services in the main free zones of the United Arab Emirates.
Both Moore Stephens entities will transition to the MHA brand following the transaction.
MS UAE is led by managing partner Farad Lakdawala and includes a total of three partners.
These partners are expected to continue with MHA once the deal is concluded.
MS UAE’s workforce stands at 95 employees and projected revenue for the year ending 31 December 2025 is estimated at £6.5 million.
If completed as planned, the transaction is anticipated to be earnings accretive within the first full financial year following completion.
MHA will provide further updates as the procurement process concludes.
MHA CEO Rakesh Shaunak said: “Strategic M&A remains a key enabler for our growth aspirations.
“Following the acquisition of BTSEE, the planned acquisition of MS UAE is another step forward in building a larger organization and international platform that improves customer service, strengthens our sector capabilities and creates opportunities for our people.
“MS UAE is a well-established, high-quality practice with strong cultural alignment, and we look forward to updating the market as we move towards completion.”
“MHA signs deal to acquire MS UAE for $9.8 million” was created and originally published by International Accounting Bulletin, an imprint owned by GlobalData.
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