EY to buy Frank Hirth’s UK business, leaving some staff in limbo
Big Four firm EY will acquire the UK business of tax advisory and compliance business Frank Hirth for an undisclosed fee.
Around 200 employees and more than 5,000 clients of Frank Hirth will move across to EY.
Four Frank Hirth employees currently working out of New Zealand have been left in limbo as a result of the deal. Frank Hirth is currently reviewing options with them, including the potential for New Zealand work to be undertaken outside of EY.
For the other employees the acquisition will not have an impact on their day-to-day roles.
The transaction is subject to closing conditions and is likely to complete in the first half of 2021.
Alison Kay, EY’s managing partner for client services in the UK & Ireland, said: “Frank Hirth has international reach, with a strong reputation in the UK and the US, and will build on the EY position as one of the most widely connected professional services organisations around the world.
“The potential acquisition is part of the wider growth strategy in the UK and Ireland for the next three to four years.”
Frank Hirth has offices in both London and the United States. It is listed at the 33rd largest accountancy firm in the UK.