Reading: HMT sells audit and tax compliance division to Moore Stephens
HMT, the leading independent corporate finance adviser in the south, has sold its audit and tax compliance business to top-10 accounting and advisory firm Moore Stephens. This will increase Moore Stephens' Reading office to over 70 members of staff with a combined fee income of £7.5 million.
HMT has enjoyed nearly 25 years in the Thames Valley as an integrated advisory business encompassing corporate finance, debt advisory, due diligence and tax advisory to ambitious entrepreneurial businesses.
In 2013, Mark Lucas joined HMT to expand the practice’s offering and he has successfully built a team encompassing audit, tax compliance and outsourcing. However, as these services do not enhance HMT’s core corporate finance offering, the firm has decided to refocus the business.
HMT audit and tax compliance staff will relocate to Moore Stephens’ Queens Road offices and Lucas, former HMT partner, will become a partner of Moore Stephens.
Moore Stephens partner Miles Hewitt-Boorman said: "We have built a very successful business in the Thames Valley area and this move will allow us to further exploit opportunities in the region.
“Mark Lucas and his team have an attractive portfolio of clients which will increase our work in certain niche sectors, while also bringing other exciting opportunities. Their focus on entrepreneurial businesses will support and strengthen our already-strong offering in this area.”
He added that Moore Stephens has a strategy of seeking "good quality mergers" to add to its existing UK operations.
HMT partner Andrew Thomson commented: “Having made the decision to refocus our business as a pure transaction advisory practice, we are delighted to have found such a good home for our audit and tax compliance division.
"Moore Stephens’ ambitions in the region will provide exciting career opportunities for our former colleagues and Moore Stephens breath of service offering will ensure that our compliance clients continue to be extremely well serviced.
“As part of our realignment, we have some exciting growth plans for our corporate finance business that we will be announcing over the coming months.”
