MHA Expands into Continental Europe with €24m Baker Tilly Acquisition

Rakesh Shaunak (pictured), chief executive at MHA, says the €24m deal marks a major step in the firm’s European growth strategy

Professional services group MHA has completed its €24 million acquisition of Baker Tilly South-East Europe (BTSEE), a move that strengthens its international footprint and creates a significant presence in Cyprus, Greece and neighbouring markets.

The deal brings 12 partners and more than 400 professionals into MHA’s network, operating from seven offices across the region. BTSEE reported revenues of €19.4 million in its most recent financial year and provides a full range of audit, tax, advisory, legal and corporate services.

MHA, which has 23 offices across the UK, Ireland and the Cayman Islands, announced its intention to acquire BTSEE in May. The transaction forms part of the group’s medium-term growth strategy, set out earlier this year following its listing on the London Stock Exchange.

Rakesh Shaunak, chief executive at MHA, said the acquisition was “a key milestone in establishing a significant presence in Continental Europe” and aligned with the firm’s ambition to expand through strategic mergers and acquisitions.

“I am delighted to welcome all our new colleagues into the MHA family. This will enable us to further develop our footprint in key strategic locations,” he added.

Marios A. Klitou, newly appointed chairman of BTSEE, said the tie-up with MHA will enable the business to accelerate growth and strengthen its market position. “We will focus on expanding our existing work with financial services companies and public interest entities, as well as broadening our services and physical footprint in Cyprus and Greece,” he said.

MHA is the UK’s independent member of Baker Tilly International, a global network of accountancy and business advisory firms. The addition of BTSEE enhances the network’s capacity to serve clients across Europe, particularly those with cross-border operations.

For businesses in the Milton Keynes and North Buckinghamshire area, MHA says the acquisition will offer greater access to expertise and support in overseas markets — particularly for companies trading with or expanding into South-East Europe.