GEOGHEGANS, the Edinburgh-based accountancy firm, has been swallowed up by a fast-growing rival from England.
The Geoghegans name is to disappear following its merger with MHA, a UK independent member firm of Baker Tilly International, though its office on St Colme Street office will be retained with all 64 staff remaining. The four partners of Geoghegans, Euan Fernie, Iain Binnie, Lachlan Fernie and Paul Marshall, become partners of MHA.
The deal is MHA’s second in Scotland, following its acquisition of Aberdeen accountancy firm Meston Reid & Co in October. And it is the firm’s fourth in the past year, following mergers with two firms in Wales.
MHA said the Geoghegans will allow it to enhance the services offered to existing clients, while expanding its offered throughout the UK. Geoghegans, which has been rebranded as MHA, is said to have a diverse client base across a range of sectors, including financial services, engineering, property, construction and farms and estates.
Rakesh Shaunak, managing partner and chairman of MHA, said: “This further expansion is hugely significant for MHA. We highlighted after the Meston Reid & Co merger that we would be looking to expand further in Scotland, and this has been achieved.
“Geoghegans is an excellent merger for us as it enables a move into the thriving Edinburgh market and further into Scotland with a firm which aligns well with our values and commitment to customer service.
“This move will enable Geoghegans’ clients to retain a highly personal local service, with the added offering of accessing an enhanced range of specialists nationally and internationally.
“We are retaining all staff in the Edinburgh office, while expanding opportunities for staff development and recruitment. We would not rule out further growth into Scotland.”
Mr Fernie said: “Partnering with MHA – a larger and ambitious firm – means we can expand our offering to clients through the vast network of specialists that will become available. Servicing our valued clients well has always been our top priority and this ethos is more than matched by MHA whose principles are hugely aligned."
MHA, which is ranked the 13th largest accountancy group in the UK, has 1,750 staff and partners across 21 offices.
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