MHA to Raise £125m in IPO Debut on AIM
Deal News | Mar 17, 2025 | Business Cloud
Accountancy firm MHA is set to raise £125 million by floating on London's AIM market. Known as a rapidly expanding UK accountancy firm, MHA operates 23 offices across the UK, with significant revenue growth marked by recent acquisitions, such as the addition of Moore and Smalley, which boosted their revenue by £30 million last year. MHA's revenue has surged from £91 million in 2022 to £154 million currently. Their EBITDA has also shown impressive growth from £37 million to £62 million in the same timeframe. As an independent member of the Baker Tilly International network, MHA aims to achieve £500 million in revenue and plans further acquisitions, potentially including other Baker Tilly members. MHA also intends to raise up to £6 million via a retail investor offer using the BookBuild platform. According to Rakesh Shaunak, MHA managing partner and group chairman, the IPO marks a pivotal point for the firm, fostering expansion and market growth. The AIM listing is viewed as an opportunity to scale quickly, drive innovation, and capitalize on market chances, while maintaining their high standards of client service and strategic growth.
Sectors
- Financial Services
- Professional Services
Geography
- United Kingdom – MHA is based in the UK with 23 offices across the country, and the IPO will be on the London Stock Exchange.
Industry
- Financial Services – MHA operates within the financial sector, providing accounting, audit, tax, and advisory services.
- Professional Services – The expansion and service focus indicates their role in the professional services industry.
Financials
- £125 million – Amount MHA aims to raise through its IPO.
- £6 million – Amount aimed to be raised from retail investors via BookBuild.
- £154 million – Current revenue of MHA.
- £62 million – Current EBITDA of MHA.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MHA | Target Company | Company | A rapidly growing UK accountancy firm aiming to raise £125 million via an IPO on the AIM market. |
| Moore and Smalley | Acquired Company | Company | A previous acquisition by MHA, contributing £30 million in revenue. |
| Baker Tilly International | Network Member | Company | A global network of accounting firms of which MHA is an independent member. |
| Rakesh Shaunak | Managing Partner and Group Chairman | Person | Leader at MHA who announced the company's IPO intention. |