Meston Reid & Co bulks up in merger with MHA
Aberdeen accountancy firm Meston Reid & Co has announced a merger with MHA, one of the largest groups in the UK.
It is MHA’s first move into Scotland and the third deal that the UK network member of Baker Tilly International has agreed this year following mergers with two firms in Wales. It has indicated an interest in further deals north of the border.
Michael Reid, managing partner at 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.”
MHA, ranked the 13th largest accountancy group in the UK, has an 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 128 partners and 1,462 staff across the UK.
Established in 1990, Meston Reid & Co is based at Carden Place and the office will now come under the MHA banner. All five partners – Michael Reid, Mark Brown, William Anderson, Alan Stewart and Martin Cheyne – will remain with MHA.
All 29 staff at Meston Reid & Co will remain with the firm. The practice offers advice in tax, audit, insolvency, corporate finance, business advisory, payroll and landed estates. It has a diverse client base, spanning SMEs to larger companies across various sectors, including energy.
MHA wants to add additional staff to the Aberdeen office and is also considering further mergers in Scotland as part of its strategy. It now has 20 offices across the UK.
Rakesh Shaunak, managing partner and chairman of MHA, said: “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.
“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.
“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.”