Moore Kingston Smith into Ireland with acquisition

21 July 2023 Consultancy.uk 2 min. read
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As the firm celebrates its 100th year in business, Moore Kingston Smith has entered into the Irish market. The firm has arrived in the new national market by way of an acquisition, buying up its fellow Moore network member on the other side of the Irish Sea.

The London wing of Moore in the UK, Moore Kingston Smith boasts over 70 partners and more than 700 people based in and around the capital city. Moore Kingston Smith is currently celebrating a milestone 100 years in business, but as it looks ahead to its second century, the firm has committed to a major expansion to grow its capabilities.

Following investment from European private equity firm Waterland, Moore Kingston Smith will move to launch in Ireland. The deal between Waterland and Moore Kingston Smith completed at the end of June 2023. The deal enabled the firm to maintain its status as a limited liability partnership, paving the way for further acquisitions of other professional practices, while also enabling the firm to maintain its traditional ‘partnership’ model, with a clear route to the rank for new staff.

Moore Kingston Smith into Ireland with acquisition

Thanks to the investment, the firm has been able to purchase Irish accounting and advisory firm Moore, a fellow member of the international Moore network, which boasts offices in Cork and Dublin. The move sees Moore Kingston Smith add 11 partners and 135 people to its headcount. The partnership will see the combined firm provide an array of accountancy and advisory services to clients across a range of business sectors in Ireland.

Maureen Penfold, Managing Partner of Moore Kingston Smith, stated, “Ireland represents a stepping-stone for companies across the globe wanting to do business in Europe and needing an English-speaking base to help them do so. Joining forces with Moore in Ireland makes us ideally positioned to provide clients with the direct access and frictionless trade across Europe they need in a post-Brexit world.”

As the firm’s first strategic investment since receiving its investment from Waterland in June, the partnership with Moore in Ireland will significantly strengthen Moore Kingston Smith’s ability to provide comprehensive support to its growing client base with international interests. This acquisition opens the door to further expansion in Ireland as part of the firm’s ongoing growth and thought leadership strategy, while also enhancing the firm’s client offerings on both sides of the Irish Sea.

Ned Murphy, Managing Partner of Moore, added, “Joining Moore Kingston Smith, backed by Waterland, is a transformational development for Moore in Ireland. The partnership will secure our growth strategy, and provide the funds we need to make investments in strategic acquisitions in the Irish marketplace, as well as in infrastructure and people.”