MHA signs agreement to acquire MS UAE for $9.8m

MHA, the UK member of Baker Tilly International, has agreed to acquire Moore Stephens and Moore Stephens Consulting, collectively known as MS UAE.

MHA anticipates paying total consideration of £7.4m ($9.8m) under the terms of the agreement.

The acquisition is intended to support MHA’s aim of broadening its international reach by targeting selected cross-border growth opportunities.

MS UAE was founded in 1999 and delivers audit, tax, and advisory services to clients in sectors including financial services, manufacturing, real estate, construction, logistics, oil and gas, trading groups and various government agencies.

The firm’s headquarters are in Dubai with additional offices in Abu Dhabi, Abu Dhabi Global Market, Sharjah, Jebel Ali Free Zone and Hamriyah Free Zone.

It is authorised to deliver professional services throughout all major free zones in the UAE.

Both Moore Stephens entities will transition to the MHA brand after the transaction.

MS UAE is headed by managing partner Farad Lakdawala and includes a total of three partners.

These partners are expected to continue with MHA once the deal concludes.

MS UAE workforce stands at 95 employees with projected revenue for the year ending 31 December 2025 estimated at £6.5m.

If completed as planned, the transaction is anticipated to be earnings enhancing within the first full financial year post-completion.

MHA will provide further updates when the acquisition process concludes.

MHA CEO Rakesh Shaunak said: “Strategic M&A continues to be a key enabler of our growth aspirations.

“Following the acquisition of BTSEE, the intended acquisition of MS UAE is another step forward in building a larger organisation and an international platform that enhances client service, strengthens our sector capabilities and creates opportunities for our people.

“MS UAE is a high-quality, well-established practice with strong cultural alignment, and we look forward to updating the market as we progress toward completion.”

“MHA signs agreement to acquire MS UAE for $9.8m” was originally created and published by International Accounting Bulletin, a GlobalData owned brand.

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