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Two Cardiff-based accountancy firms have agreed a merger with º£½ÇÊÓƵ-wide accountant, MHA. Watts Gregory and HJE Healthcare Accountants, which are both under the Watts Gregory Group, were acquired for an undisclosed amount.

Watts Gregory Group will become partners at MHA under a new firm structure. It will also rebrand as MHA, with 60 staff, four partners and two consultants joining the firm.

Ranked as the º£½ÇÊÓƵ’s 13th largest accounting firm, MHA has 20 offices nationwide, including in Liverpool, London and Manchester, and employs over 1400 staff. MHA said the acquisition will strengthen its service offering in Wales.

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It is the second deal the firm has conducted in Wales this year, following its merger with Swansea-based Gerald Thomas in January. It now employs over 100 staff between Cardiff and Swansea.

Rakesh Shaunak, managing partner and chairman of MHA said: ‘We are delighted to secure our presence in Wales. Watts Gregory Group is a significant merger for MHA, enabling us to continue expanding and investing within a thriving business community in a region which has great synergies with MHA's core sectors, in particular Construction, Manufacturing, Technology, Consumer and Life Sciences.

“These strategic mergers will enable these firms’ clients to access a new range of specialists, and an enhanced national and international offering, whilst continuing to enjoy a highly personal service. We will also bring new development opportunities for the staff, as well as providing attractive career opportunities for new talent.”

Hayley Worsfold, partner at Watts Gregory, said: “‘To provide an ever progressive and evolving level of service to our clients in terms of range, scope and reach, we felt it was time to partner with an ambitious, larger organisation. Our colleague, Lindsay Hogg was committed to finding a partner sharing the same core values as our firm and we thank him for driving towards this new chapter for our business.

“With the value of imports and exports in Wales, both nationally and internationally, having grown by billions of pounds since 2021 there are significant opportunities for our clients and prospects. By merging with MHA and through the Baker Tilly International network, we can expand our offering to make the most of those opportunities.”

Nick Morgan, director of HJE Healthcare accountants, said: “MHA are fellow members of the Association of Independent Specialist Medical Accountants. Having met a number of their team over the last 26 years I am delighted to partner with a firm with significant NHS sector expertise and who share our values and approach to client care and service”.