Aberdeen accountancy firm Meston Reid & Co has merged with much larger London-based group MHA.
The deal marks a first move into Scotland for MHA, which is the UK network member of Baker Tilly International.
MHA, which noted it is ranked as the 13th-largest accountancy firm in the UK, said it is “seeking to add additional staff to the Aberdeen office and…also considering further mergers in Scotland” as part of its strategy.
Meston Reid, which primarily serves clients in north-east Scotland and was established in 1990, has 29 staff and all will remain following the deal, MHA said.
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MHA noted that all five partners at Meston Reid - Michael Reid, Mark Brown, William Anderson, Alan Stewart and Martin Cheyne - will also remain following the deal.
It said of the Aberdeen firm: “The practice has strong expertise in tax, audit, insolvency, corporate finance, business advisory, payroll and landed estates. It has a diverse client base, spanning SMEs (small and medium-sized enterprises) to larger companies across various sectors, including energy.”
The deal is the third MHA has agreed this year, following mergers with two firms in Wales.
MHA has 128 partners and 1,462 staff across the UK.
Rakesh Shaunak, managing partner and chairman of MHA, said: “We are delighted to secure our presence in Scotland. Meston Reid & Co is a significant merger for MHA, enabling us to continue expanding and investing within a thriving business community in a region which has great synergies with MHA's growth sectors.
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“This strategic merger will enable Meston Reid’s clients to access a new range of specialists and an enhanced national and international offering, while still retaining a highly personal local service.”
He added: “In addition, this merger opens up new avenues for professional development for both the partners and staff in Aberdeen, all of whom we are retaining, and presents enticing career prospects for fresh talent seeking to join our team.”
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Michael Reid, whose position was described by MHA as managing partner at the firm formerly known as Meston Reid & Co, said: “To continue to provide an ever progressive and evolving level of service to our clients in terms of range, scope and reach, we felt it was time to partner with a larger and equally ambitious organisation.
“By merging with MHA, we can expand our offering to clients by accessing their specialists within the Baker Tilly International network. Following previous interactions with MHA and by gaining a deeper understanding of their values, ethos and client-centric approach, it became clear to us that they were an ideal partner: one that aligns perfectly with our core principles and unwavering commitment to exceptional client care and service."
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