UK-based accountancy firm MHA has acquired Baker Tilly South East Europe for €24 million, enhancing its presence in the European market and aligning with its post-IPO growth strategy.
Target Information
The target of this acquisition is Baker Tilly South East Europe, a prominent accountancy firm operating in Greece and Cyprus. With a workforce of nearly 400 professionals, the firm generated €19.4 million in revenue and €2.5 million in pre-tax profit in 2024, positioning it as a significant player in the region's financial services sector.
This acquisition, valued at €24 million, includes €6.5 million in cash and €17.5 million in shares. A notable aspect of the deal is that 10% of the total purchase price will be allocated to employees of Baker Tilly, reflecting MHA's intent to retain talent and ensure a smooth integration process.
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Industry Overview
The accountancy sector in Greece and Cyprus has experienced ongoing consolidation, driven largely by increasing interest from private equity firms in the stability and recurring revenues
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MHA
invested in
Baker Tilly South East Europe
in 2024
in a Buyout deal
Disclosed details
Transaction Size: $26M
Revenue: $21M
Net Income: $3M