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November 3, 2010

MacIntyre Hudson forms UK group

MacIntyre Hudson, a UK member firm of Morison International, has formed an association that combines the services of six British firms.

MacIntyre Hudson has teamed up with Hudson, Broomfield & Alexander; Carpenter Box; Henderson Loggie; Larking Gowen; and Moore and Smalley.

The group of firms has combined revenue of £80 million, which would make it among the six largest associations of independent firms in the UK.

Individually, firm revenues range from £5 million to £32 million. Carpenter Box, one of the smaller firms, has two offices and 60 staff, while the largest firm is MacIntyre Hudson with 10 offices and 450 staff.

The firms will work together, sharing expertise, strategies and market opportunities, providing clients with a deeper capability than they would receive if they operated individually.

Better national coverage

MacIntyre Hudson principal Rakesh Shaunak said the concept was formed as a cost effective way for member firms to reach out to a broader range of clientele without the need for merger. For example, Scottish firm Henderson Loggie can serve clients that have requirements in England while maintaining its independence.

Shaunak believes the association can bring in combined revenue of about £100 million in the next year, which will be achieved through the addition of more firms and organic growth.

Shaunak said there were no plans for the firms to eventually merge although nothing had been ruled out in the future.

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