MHA to acquire Moore Stephens firms in UAE in £7.4m deal

MHA has agreed to acquire two Moore Stephens firms in the United Arab Emirates for £7.4m as part of its strategy to expand its international operations.

The professional services group said it had entered into an agreement to acquire Moore Stephens LLC, an audit practice, and Moore Stephens Consulting LLC, a tax and consulting firm, which together trade as MS UAE and are headquartered in Dubai.

MS UAE employs 98 staff and partners and is expected to generate revenues of £6.5m in the year to 31 December 2025.

Founded in 1999, MS UAE provides audit, tax and advisory services to clients across sectors including financial services, manufacturing, construction, real estate, logistics, oil and gas, trading groups and government bodies.

The business, which has branch offices in Abu Dhabi, Abu Dhabi Global Market, Jebel Ali Free Zone, Sharjah and Hamriyah Free Zone, is approved to provide services across all major free zones in the UAE. Both firms will rebrand under the MHA name following completion of the deal.

MS UAE is led by managing partner Farad Lakdawala and has three partners in total. All partners are expected to remain with the business after the transaction completes.

MHA said the acquisition is expected to be earnings enhancing in the first full financial year following completion. The deal remains subject to completion, with a further announcement to be made in due course.

Rakesh Shaunak, chief executive of MHA, 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.”