Accountancy and advisory firm MHA Plc has entered into an agreement to acquire two Dubai-based professional services businesses operating under the Moore Stephens name, as the group continues to expand its international footprint.
The proposed transaction involves the acquisition of Moore Stephens LLC, an audit practice, and Moore Stephens Consulting LLC, a tax and consulting services firm. Together, the businesses operate as MS UAE and are headquartered in Dubai. Subject to completion, both firms will rebrand to MHA.
MHA said the acquisition aligns with its strategy of pursuing selective cross-border opportunities that enhance the group’s international presence and strengthen its service offering to clients operating across multiple jurisdictions.
Established in 1999, MS UAE has grown into a well-established professional accounting practice in the region. The firm provides audit, tax and advisory services to clients across a broad range of sectors, including financial services, manufacturing, construction, real estate, logistics, oil and gas, trading groups and government-related organisations.
The business operates from its Dubai headquarters and has additional offices in Abu Dhabi, Abu Dhabi Global Market, Jebel Ali Free Zone, Sharjah and Hamriyah Free Zone. MS UAE is approved to provide services across all major free zones in the UAE.
MS UAE is led by managing partner Farad Lakdawala and has three partners in total. All partners are expected to remain with the business following completion of the acquisition. The firm employs 95 staff and has projected revenues of £6.5m for the year ending 31 December 2025.
Under the terms of the agreement, MHA expects to pay total consideration of £7.4m. The group said the acquisition, if completed, is expected to be earnings enhancing in the first full financial year after completion. A further announcement will be made once the transaction has completed.
Rakesh Shaunak, chief executive at MHA, said strategic mergers and acquisitions remain central to the firm’s growth ambitions. “Strategic M&A continues to be a key enabler of our growth aspirations,” said Rakesh. “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.”
