LEADING British accountancy firm and professional services group S&W has continued its ambitious expansion in Ireland with the acquisition of Cork-based MC2 Accountants.
If marks S&W's second acquisition in Ireland since it was launched earlier this year with the sale of Evelyn Partners' professional services business to Apax Funds.
S&W recently acquired Dublin's Beechwood Partners and the deal for MC2 will see 47 new colleagues, including four partners, join S&W's Ireland business, which currently employs around 115 people.
"I'm delighted to welcome the team from MC2 Accountants to S&W in our second acquisition in Ireland as a stand-alone group," said Andrew Wilkes, CEO at S&W.
'Dynamic, fast-growing city'
Established in 2013, MC2 is one of Munster's leading audit, tax and business advisory firms, providing clients with a suite of end-to-end financial and business solutions.
Its business incorporates Parfrey Murphy, which it acquired in 2022.
"MC2 is a highly-respected and forward-thinking firm which fits well with S&W both in terms of expertise, culture and the clients it works with," added Wilkes.
"Like S&W, MC2 is a business committed to building long-standing relationships that add real, discernible value to clients.
"Our partnership with Apax Funds is providing us with the firepower to invest in our transformational growth.
"This gives us the platform to strengthen our offerings to our clients through continuing to execute the acquisition of high-quality accountancy firms with complementary expertise, like MC2."
John O'Callaghan, Managing Partner in S&W's Ireland business, added: "This deal builds on the momentum we're generating in Ireland and reinforces our commitment to expanding in this exciting market.
"Partnering with the MC2 Accountants team gives us a strong foothold in Cork — a dynamic, fast-growing city — and enables more clients to access our full suite of high-quality accountancy and advisory services."
Aligned focus
James Loughrey, a partner at MC2 Accountants, said of the acquisition that it was 'the right time to take the next step in our journey'.
"Becoming part of a larger organisation gives us the infrastructure and wider capabilities to continue to deliver joined-up solutions across multiple service lines, ensuring we can support clients as their needs become more complex in a more challenging world," he said.
"Importantly, S&W's strong focus on private clients and owner-managed businesses aligns perfectly with our own.
"The success of MC2 has been built on the support of our dedicated team and loyal clients and this move will benefit both."
S&W is the fastest growing British top-10 accountancy firm.
Drawing on the heritage of Smith & Williamson, which was founded in 1881, S&W has more than 2,000 employees and more than 130 partners based in Britain and Ireland.
It offers clients in Ireland a broad range of services spanning tax advice, assurance and business services and a suite of advisory and digital services that include recovery and restructuring, transaction services and forensic advice.
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