Fast-growing accountancy firm makes first acquisition in Ireland
A fast-growing professional services group has made its first acquisition in Ireland as part of international expansion plans.
Award-winning accountancy firm DJH, which has offices in Halesowen and Walsall, has invested in MSD Accountants in Dublin in a deal that will give it a natural bridge to serve clients operating across the EU.
The partnership will also provide a strong link into the United Kingdom for MSD clients already operating there.
The team of 30 at the Santry Business Park-based firm will continue to be led by Richard Daly, managing partner and Brendan Murtagh, head of assurance, ensuring it’s ‘business as usual’.
James Beardmore, chief operating officer of DJH, said: “Dublin is one of the most significant financial hubs in Europe, with a strong economy, favourable corporate tax rate and, post-Brexit, it has become an increasingly attractive access point for UK firms looking to trade with the EU.
“We’ve aspired to have a presence in the city for a long time and MSD Accountants is the perfect fit with its reputation for fantastic service and specialisms in several aligned sectors for us.
“Importantly, it gives DJH multinational service capability and EU regulatory compliance for UK clients looking at cross-border planning, tax efficient structures and expanding their European operations through an Irish presence."
Formed in 1990, MSD Accountants provides expertise in advisory, assurance, business support services and tax to subsidiaries of multinationals, mid-size private companies, family businesses and large organisations operating across multiple jurisdictions.
Its team works across a broad range of sectors, including professional services, entertainment, hospitality, construction, automotive, distribution, information technology and communications.
Managing partner Richard Daly said: “It is fantastic to be joining the DJH group and all the additional expertise, enhanced capabilities and international reach that comes with it.
“We are delighted with the partnership. The two businesses share similar values of trust, transparency, quality and client service. Joining DJH will benefit our existing clients through enhanced infrastructure and, for our clients operating in the UK, we will now have a full-service integrated offering there.”
DJH, which is backed by private equity investor Tenzing, aims to become one of the UK’s top 20 accountancy and professional services firms.
Following 15 acquisitions in four years, the firm has grown into a multi-disciplinary team of 670 people with offices in Altrincham, Bexley, Bury, Chester, Derby, Halesowen, Huddersfield, Leeds, Manchester, Nantwich, Sheffield, Stoke-on-Trent and Walsall
DJH’s James Beardmore said: "Our strong acquisition drive has now taken us into Dublin and our first aim is to increase organic growth with MSD Accountants by extending services to existing clients and attracting new ones.
“The partnership also gives us the perfect platform to target more M&A activity in Ireland.”
