MHA MacIntyre Hudson has acquired KP Audit, a specialist provider of audit services to the investment management industry, including hedge funds, asset management firms and captive insurance companies, in a move which the top twenty firm its first overseas location
Rakesh Shaunak, chairman of MHA MacIntyre Hudson, said: ‘This acquisition provides an immediate and material entry into a part of the investment market that is key to delivering the firm’s strategic plan. This is a very significant deal for the firm.’
Founded in 2005, KP Audit has a professional staff of 20 based in London and the Cayman Islands. The firm’s audit clients comprise approximately 150 investment funds in various jurisdictions, both offshore (primarily the Cayman Islands but also the British Virgin Islands and Delaware) and onshore in the UK.
It also has 60 UK investment manager, broker and adviser and arranger clients, primarily operating in London.
KP’s London team will relocate to the MHA MacIntyre Hudson City office, and MHA MacIntyre Hudson will retain the KP Audit Cayman Islands office, with Deb Weston and David Walker becoming partners in the firm.
The acquisition provides MHA MacIntyre Hudson, currently ranked at number 17 in the Accountancy league table of firms, with its first overseas location. The firm has 88 partners and over 580 staff in 15 offices in London, the south east, East Anglia, the Midlands and in the Cayman Islands.
Deb Weston, managing partner of KP Audit, said: ‘My team and I are excited to be joining MHA MacIntyre Hudson. There is a good cultural fit between our organisations, and our clients will benefit enormously from the range of services and reach available to them through MHA MacIntyre Hudson and Baker Tilly International.’