The recently-floated accountancy firm, which has offices across the UK including London, Thames Valley, Kent, Gatwick and Essex, raised £98m through an institutional placing and retail offer, resulting in a market cap of £271m on Admission, the largest AIM IPO in the Business Support Services sector over the past five years.
The flotation was a result of the unanimous decision by the MHA Board and endorsed by the partners to pursue the option of an IPO as the most attractive, sustainable route for the long-term benefit of our people and our clients.
Rakesh Shaunak Chief Executive Officer of MHA, said:
“This is an exciting day for our firm, our people and we believe a welcome one for the London market. We have been delighted by the positive response we have had from investors and our clients since we announced our intention to float last month.”
“With the substantial amount of capital raised, MHA can make investments in technology in particular Artificial Intelligence as well as fund further acquisitions to become an even more attractive proposition to new recruits at both a senior and entry level. Control of our strategic destiny will very much remain in the hands of our Board and our partners.
“Going down the IPO route will also give our people a real stake in the future of our business via a significant employee benefit trust. And crucially, it would allow us to offer equity participation to future partners and leaders, ensuring they have a direct stake in the firm’s continued growth.”
ENDS
About MHA
MHA, ranked the 13th largest accountancy group in the UK, comprises of 23 offices nationwide and has a strong SME focus with clients in the construction, manufacturing, consumer, renewables, agriculture, food and drink and charity sectors. It also supports larger firms with international operations. The practice has 136 partners and over 1,900 staff across the UK.
MHA is the UK independent member firm of Baker Tilly International, the world’s 9th largest international network of independently owned and managed accountancy and business advisory firms, operating across 141 territories.
For all press enquiries please contact Emma Field, Regional Head of Marketing emma.field@mha.co.uk
