May 7, 2025 – London/Nicosia
UK-based accountancy group MHA has acquired Baker Tilly’s operations in Cyprus and Greece in a deal valued up to €24 million. The deal includes €6.5 million in cash and €17.5 million in MHA shares.
Highlights:
The acquired firm includes nearly 400 staff and generated over €19 million in 2024.
10% of the shares in the transaction will be allocated to employees.
The acquisition is part of MHA’s strategy to expand its presence in Southeast Europe.
This move demonstrates increasing consolidation and foreign interest in Cyprus’s professional services sector. Clients may see enhanced service offerings and regional capabilities as a result.
