Moore Stephens seals Macnair Mason deal
UK's 12th largest firm Moore Stephens to climb fee income rankings with Macnair Mason merger
Moore Stephens is set to overtake rival Robson Rhodes in the UK accountancy
fee income rankings after announcing its tie up with Macnair Mason, which will
add £4m to its fee income and push it up the Accountancy Age Top 50
rankings.
Announcing the merger today, Moore Stephens said seven partners and 46 staff
from Macnair Mason would move to Moore Stephens’s London offices. The merger
will see revenue at Moore Stephens climb to £87.4m from £83.4m, allowing it to
overtake 11th placed Robson Rhodes, which has annual fee income of £85.5m.
Richard Moore, senior partner at Moore Stephens, said there was a strong
commercial rationale behind the deal.
‘Moore Stephens is a major London firm and we need to continue to develop our
presence. Macnair Mason has complementary skills in a number of business
sectors, such as insurance and private clients, which will enable us to service
those markets even more effectively than at present,’ said Moore.
Macnair Mason’s senior partner, Richard Mason, said the merger would enable
the firm’s partners to offer a wider service to clients.
He said: ‘Being part of a larger firm will result in us being able to give
the technical support to our partners and other team members that will enable
them to focus more effectively on client needs, as well as giving those clients
access to a greater range of services than we currently offer.’
The deal marks the second major transaction Moore Stephens has undertaken
over the last fifteen months after it acquired IT consultancy, Phoenix Database
Technologies Limited.