Acquisition of MSD will provide UK’s DJH Group a natural bridge to serve clients in the EU.
MSD Accountants has become the first Irish company to join DJH, one of the UK’s fastest-growing professional services groups, in a strategic investment that will strengthen both firms’ cross-border capabilities.
The deal sees DJH invest in the well-established Dublin-based accountancy practice, providing the UK firm with a natural bridge to serve clients operating across the EU. For MSD clients already operating in the UK, the partnership offers enhanced access to British markets.
“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”
The 30-person team at the Santry Business Park-based firm will continue to be led by Richard Daly, Managing Partner, and Brendan Murtagh, Head of Assurance, ensuring continuity for existing clients.
Post-Brexit practicalities
“It is fantastic to be joining the DJH group and all the additional expertise, enhanced capabilities and international reach that comes with it,” said Richard Daly. “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.”
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. The firm’s team works across sectors including professional services, entertainment, hospitality, construction, automotive, distribution, information technology and communications.
James Beardmore, chief operating officer of DJH, highlighted Dublin’s strategic importance. “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,” he said.
“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.”
DJH, which is backed by private equity investor Tenzing, is aiming to become one of the UK’s top 20 accountancy and professional services firms. Following fifteen acquisitions in four years, the firm has grown into a multidisciplinary team of 670 people with offices across England, from Altrincham to Walsall.
“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,” Beardmore added. “The partnership also gives us the perfect platform to target more M&A activity in Ireland.”
Main image: Richard Daly, MSD Accountants; James Beardmore, DJH; and Brendan Murtagh, MSD Accountants
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