UK-based professional services group MHA has completed its purchase of Moore Stephens and Moore Stephens Consulting in the United Arab Emirates (UAE), together operating as MS UAE.
The agreement was first disclosed in December last year.
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MS UAE, established in 1999, offers audit, tax and advisory services to clients across a broad mix of industries.
Its portfolio spans construction, financial services, government-related entities, logistics, manufacturing, oil and gas, real estate and trading businesses.
The practice is headquartered in Dubai and maintains offices in Abu Dhabi, the Abu Dhabi Global Market, Sharjah, the Jebel Ali Free Zone and the Hamriyah Free Zone.
MS UAE managing partner Farad Lakdawala said: “Joining MHA aligns with our ambition to build a leading advisory presence in a market that continues to attract global capital and enterprise.
“The reputation and strength of the MHA brand and business model creates a compelling platform for the next stage of our growth.
“By combining our local insight with the group’s broader capabilities, we look forward to delivering enhanced value for clients and contributing to the continued success of the wider firm.”
As per the agreement, MHA paid Dh36m on a cash-free, debt-free basis.
MHA CEO Rakesh Shaunak said: “The completion of the acquisition of MS UAE marks another important step in delivering our international growth strategy.
“It gives us a strong foothold in a strategically important market, broadens our international reach and strengthens our ability to support clients operating across key global trade and investment corridors. We are delighted to welcome Farad and the wider team to MHA.”
Last month, MHA named Craig McSherry as a partner in its banking and capital markets practice.
