Baker Tilly acquires specialist firm for undisclosed sum
Clients and partners from Barr Pomeroy will join the professional services firm
Baker Tilly managing partner Neil Hughes says the company is in discussions to widen its geographical reach to locations such as Galway and Cork
Dublin professional services firm Baker Tilly has acquired Barr Pomeroy, a smaller, specialist firm, for an undisclosed sum.
The move, which will see Barr Pomeroy’s operations and clients merge into the Baker Tilly operation in the Republic, will grow the firm’s headcount to more than 130 staff.
Baker Tilly is targeting significant growth to move from 14th in the Irish market, in terms of fee income, into the top 10. Last year, it reported fee income of €11 million.
The firm is a member of Baker Tilly International, having joined the grouping in 2016. The Dublin headquartered firm, with offices in Enniscorthy, was formerly Hughes Blake. It offers audit, tax and restructuring services and would be particularly well known in the Republic for some high-profile examinerships. Recently, the firm has been appointed examiner to PBR Restaurants Limited and Limerick FC.
Barr Pomeroy, meanwhile, was established in 1989 by Marie Barr and Michael Pomeroy and specialised in taxation, auditing, corporate restructuring and corporate finance services. Both Ms Barr and Mr Pomeroy worked for Arthur Andersen before establishing their own partnership.
“We are excited to join Baker Tilly at this time as the move provides great opportunities for our clients and staff, providing access to even stronger expertise domestically and a huge network of specialists internationally at such a crucial time, as the economy readies itself for Brexit,” Ms Barr said of the move.
Neil Hughes, managing partner of Baker Tilly, told The Irish Times that the company was in the process of scoping out other “bolt on merger opportunities” and was in discussions to widen its geographical reach to locations such as Galway and Cork.
“We believe Barr Pomeroy is an excellent fit for our medium-term growth strategy, taking into account their quality client base, private client focus and industry recognised expertise,” Mr Hughes added.
Mr Hughes also controls the Cyprus operation of Baker Tilly, having established an operation in the country after it introduced examinership legislation in June 2015.