Freeths successfully advises MHA plc IPO
Freeths has guided accountancy firm MHA through a £250 million IPO on the London Stock Exchange
Leading law firm Freeths has successfully advised accountancy firm MHA in its £250 million pre-new money valuation Initial Public Offering on the AIM market, which raised £95.8 million from institutional investors, alongside a retail offering component for British investors. MHA, the UK’s 13th largest accountancy practice, has seen remarkable growth in recent years driven by strategic acquisitions. The capital raised will be instrumental for MHA in making further purchases, enhancing working capital, and allowing both retired and continuing partners to realise capital as part of a pre-IPO restructuring.
Jeremy Swift, Freeths’ ECM-specialist London Corporate Partner, led the flotation with support from Tom Rowley, the London Head of Corporate, and a multi-disciplinary team of 44 lawyers across the firm’s 13 offices. MHA is set to join the 679 AIM-listed firms in the market on Tuesday, 15th April.
“It has been such an exciting project to work on supporting our client with this IPO, marking a significant milestone in its journey. It will ensure the firm is well placed for further expansion and cement its leading position within the market,” Jeremy Swift stated. He added that the listing demonstrates strong support for the UK capital markets, which have faced challenges recently. Tom Rowley expressed delight in assisting MHA to market, highlighting the firm’s growth in its corporate team with ECM specialists, stating, “It is gratifying to note our hard work being recognised, for example our nomination for Law Firm of the Year 2025 by City AM.”
MHA’s CEO Rakesh Shaunak remarked, “It’s been such a whirlwind but this new chapter for our business marks an exciting journey for our people as it represents the next stage in our evolution, and we believe we’re best suited to the London market. The support we’ve received from Freeths has been invaluable and we certainly wouldn’t have been able to reach this success without the help of their team.”