HMT sells its audit and tax compliance division to Moore Stephens

moore-stephens-hmtHMT announces the sale of its audit and tax compliance division to Moore Stephens in Reading.

HMT, the leading independent corporate finance advisor in the South of England, is pleased to announce the sale of its audit and tax compliance business to Moore Stephens. This will increase Moore Stephens Reading office to over 70 members of staff with a combined fee income of £7.5m.

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 the practice to expand HMT’s offering and has successfully built a team encompassing audit, tax compliance and outsourcing. However, these services do not enhance HMT’s core corporate finance offering and they have decided to refocus the business.

HMT audit and tax compliance staff will relocate to Moore Stephens’ Queens Road offices while former HMT partner, Mark Lucas, will become a partner of Moore Stephens.

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 breadth of service offering will ensure that our compliance clients continue to be extremely well serviced.

Andrew went on to say “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.

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 had a strategy of seeking “good quality mergers” to add to its existing UK operations.