In a significant strategic move, the UK accountancy network MHA has announced its first major foray beyond British shores with the acquisition of a leading firm in the United Arab Emirates. This landmark deal sees MHA, a prominent member of the global Baker Tilly International network, take over Fiducia, a respected accountancy and advisory practice based in Dubai.
A Strategic Bridgehead in the Gulf
The acquisition of Fiducia represents a calculated step by MHA to establish a firm foothold in the lucrative Middle Eastern market. Fiducia, which will now operate under the MHA brand, brings with it a team of approximately 30 professionals and a strong reputation for serving a diverse client base across the UAE. This clientele includes prominent large corporates, ambitious small and medium-sized enterprises (SMEs), and a growing number of entrepreneurial startups and family offices.
Paul Riley, the Chief Executive of MHA, emphasised that this move is a direct response to the evolving needs of the network's UK clients, many of whom have expanding interests and operations in the Gulf region. By establishing a physical presence in Dubai, MHA aims to provide seamless, on-the-ground support for these clients while also capturing new local business opportunities.
Aligning with Global Ambitions
This expansion is not an isolated venture but a key part of a broader international strategy. MHA is a core member of Baker Tilly International, one of the world's largest accountancy networks. The acquisition in the UAE aligns perfectly with the global network's growth objectives and provides a crucial link between the UK and Middle Eastern markets.
The financial details of the transaction have not been publicly disclosed. However, the strategic importance is clear. For Fiducia's existing partners and clients, the merger offers access to MHA's deep technical resources, specialist UK expertise, and a vast international network through Baker Tilly. Conversely, MHA gains immediate operational scale, local market knowledge, and an established reputation in a key global financial hub.
Future Growth and Market Implications
The leadership of both firms have expressed strong confidence in the synergies created by the deal. The integrated firm will offer a full suite of services, including audit, tax advisory, and business consulting, leveraging combined strengths to compete more effectively for regional and international mandates.
This acquisition signals a growing trend among UK-based professional services firms to look beyond traditional markets and establish direct presences in high-growth regions like the Middle East. For MHA, ranked among the top 15 accountancy networks in the UK, this move represents a pivotal moment in its development, transforming it from a predominantly domestic player into an emerging international contender.
The success of this integration will be closely watched within the industry, as it could pave the way for further international acquisitions by MHA or similar moves by its competitors. The ultimate goal is to build a seamless, cross-border service capability that can support the increasingly globalised nature of business in the post-Brexit economic landscape.
