Stephenson Harwood Advised Cavendish on MHA Plc’s IPO On The London Stock Exchange’s AIM Market

Stephenson Harwood advised Cavendish on MHA plc’s IPO on the London Stock Exchange’s AIM market

Stephenson Harwood LLP advised Cavendish Capital Markets Limited in its role as nominated adviser, bookrunner, and broker to MHA plc on MHA’s initial public offering (IPO) on the AIM market of the London Stock Exchange.

MHA raised gross proceeds of £98 million through the IPO, which gives it a market capitalisation of approximately £271 million upon admission — marking one of the largest AIM listings in the last five years. MHA is a prominent UK-based professional services provider offering accountancy, audit and assurance, tax, and advisory services. It is the independent UK member of Baker Tilly International and was the thirteenth largest accountancy firm in the UK by revenue in 2023-2024.

The listing will support MHA’s strategy to accelerate growth and move towards its medium-term goal of becoming a top 10 UK accounting and professional services firm, targeting annual revenues exceeding £500 million.

The Stephenson Harwood team was led by Tom Nicholls (Partner), supported by Tom O’Connor (Associate), Emily De Salis (Associate), and Billy Gregory (Associate).

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