MHA Completes Acquisition of Baker Tilly's South-East Europe Operations
Deal News | Aug 18, 2025 | Consultance.eu
UK-based professional services firm MHA has completed a €24 million acquisition of Baker Tilly’s South-East Europe business, which includes operations in Cyprus and Greece. Announced in May, the transaction comprises €6.5 million in cash and €17.5 million in shares. Baker Tilly’s target business has 12 partners and over 400 professionals across seven offices, posting revenues of €19.4 million. Rakesh Shaunak, CEO of MHA, highlights the deal as crucial in establishing a significant foothold for MHA in Continental Europe. He expressed excitement about welcoming the new team to the MHA family and emphasized the opportunity to expand further in strategic locations. Marios Klitou, Chairman of the South East Europe business, echoed the optimism, highlighting potential growth opportunities, particularly in financial services and public interest sectors. MHA plans to enhance its presence in Cyprus and Greece further in the coming months.
Sectors
- Professional Services
- Financial Services
Geography
- United Kingdom – MHA is a UK-based company, making the UK a primary geography involved in the transaction.
- Cyprus – Part of the acquired business is located in Cyprus, indicating a significant geographical interest in this region.
- Greece – Another portion of the acquired business is located in Greece, marking it as a key geographical focus of the acquisition.
- South-East Europe – The business acquisition extends across the broader South-East Europe region, which is strategically important for MHA's expansion plans.
Industry
- Professional Services – The article primarily involves the Professional Services industry, encompassing accounting, auditing, tax, advisory, and legal services provided by MHA and Baker Tilly.
- Financial Services – The acquisition aims to expand work with financial services companies, highlighting the relevance of the Financial Services sector.
Financials
- 24 – The total value of the transaction, in million euros.
- 6.5 – The cash component of the transaction, in million euros.
- 17.5 – The shares component of the transaction, in million euros.
- 19.4 – The reported revenues of the South-East Europe business being acquired, in million euros.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MHA | Acquirer | Company | A UK-based professional services firm with 23 offices in the UK, Ireland, and the Cayman Islands. |
| Baker Tilly | Target | Company | Provider of professional services, including audit, tax, advisory, legal, and corporate services in South-East Europe. |
| Rakesh Shaunak | CEO | Person | CEO of MHA, who commented on the strategic significance of the acquisition. |
| Marios Klitou | Chairman | Person | Newly appointed Chairman of South East Europe business, formerly part of Baker Tilly. |