Shaping the future of AIM: LSE releases discussion paper on changes to the AIM Rulebooks
Find out more
Stephenson Harwood advises Cavendish on MHA plc's London IPO
Law firm Stephenson Harwood LLP has advised Cavendish Capital Markets Limited in its role as nominated adviser, bookrunner and broker to MHA plc on MHA plc's initial public offering (IPO) on the AIM market of the London Stock Exchange.
MHA raised gross proceeds of £98 million. Upon admission, MHA will have a market capitalisation of approximately £271 million, positioning its IPO as one of the largest on the AIM market in the past five years.
MHA is a leading professional services provider of accountancy, audit and assurance, tax, and advisory services and is the independent UK member of Baker Tilly International. In 2023-2024, MHA was the thirteenth largest accountancy firm in the UK by revenue and the joint fastest-growing UK accountancy firm in the top 20.
The IPO will enable MHA to expand its offering and to accelerate its growth strategy. MHA has a medium-term aspiration to become a top 10 UK accounting and professional services business, targeting annual revenues exceeding £500 million.
"The listing of MHA on the AIM market is a significant milestone, marking a rare transition from partnership to public company in the professional services sector," said Partner Tom Nicholls, Head of Stephenson Harwood's Corporate practice. "This is a much-needed boost for London as a listing venue. Notwithstanding the recent volatility in the markets, we are seeing a potential resurgence of IPOs in the London market with a number of further deals in the pipeline for later in the year."
The Stephenson Harwood team was led by Partner Tom Nicholls, who was supported by associates Tom O'Connor, Emily De Salis and Billy Gregory.