Accountancy firm MHA is to float on London’s junior AIM market “in the coming weeks” with the intention of raising £125m.
One of the UK’s fastest-growing accountancy firms, MHA has 23 offices in London, the South East, Midlands, North West, Wales and Scotland following a series of acquisitions, including a deal for Moore and Smalley last year which added £30m in revenue to the business.
Revenues have grown from £91m in 2022 to £154m last year, with EBITDA growing from £37m to £62m in the same period.
MHA, run as an independent member of the Baker Tilly International network, says it is targeting revenues of £500m and further acquisitions. These may include other members of Baker Tilly.
It says an accompanying offer to retail investors via the BookBuild platform will aim to raise up to £6m.
‘National Insurance rise will hammer business – but we’ll survive’
“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,” said Rakesh Shaunak, managing partner & group chairman.
“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.”