The Top 20 accountancy firm announced in May that it had agreed heads of terms to acquire BTSEE, a professional services firm headquartered in Athens with clients in Cyprus, Greece and southeast Europe, predominantly in audit, tax, advisory, legal and corporate services. It has 16 offices in Cyprus, Greece, Bulgaria, Romania and Moldova.

MHA will pay the vendors of BTSEE 90% of the initial €20m (£17.2m) equity value through an initial cash consideration of €5.4m, plus €12.6m in 10,862,069 new ordinary shares in the company.

The deal with see MHA add around €20m in annual revenues, strengthening its European reach and marking the first overseas acquisition for the group, which reported fee income of £180m in FY24, up 29% year on year.