Moore Ireland, the Cork-based accountancy firm backed by private equity, has merged with Dublin-based firm HSOC, as deal-making continues to heat up in the mid-market accounting industry.
It marks Moore’s second big move since UK firm Moore Kingston Smith acquired the Irish business in a transaction backed by Dutch private equity firm Waterland in 2023.
The addition of Dún Laoghaire-based HSOC, financial details of which have not been disclosed, brings More Ireland’s employee headcount to more than 270 from 240 earlier this year.
As part of the transaction, four HSOC partners – John O’Connell, Hugh McGeown, Simone Hennessy and Shane O’Connell – will take on senior leadership roles with Moore Ireland.
The firm said the new partners bring expertise across “a diverse range of business areas and sectors”.
The deal marks the second “transformational” step for Moore Ireland this year, said managing partner Ned Murphy, following its merger with Galway-based DHKN in January.
[ Accounting firm Moore Ireland merges with Galway’s DHKNOpens in new window ]
“The addition of HSOC positions Moore Ireland to offer a compelling value proposition in Dublin, Cork, Galway, while, of course, being supported by Moore Kingston Smith in London and Moore Northern Ireland in Belfast,” he said.
“Our connections across these jurisdictions will provide our clients with a truly integrated service offering”.
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Mr O’Connell said: “With Moore Ireland, we will be able to build and augment our practice and bring a wide range of new skills, competencies and market expertise to our clients, that will enhance our offering. The potential for financial services in particular is very exciting.”
The small-to-mid-tier Irish accounting sector has seen a surge in deal-making in the past two years as overseas firms, often backed by private equity money, seek to tap into the EU’s fastest-growing economy and the European base for a host of global tech and pharmaceutical groups.
ETL Global, the German-based accounting group, entered the Irish market in early 2023 by acquiring 51 per cent of the Noone Casey practice in Dublin and has followed up with other deals.
London-based Azets also purchased Baker Tilly Ireland the same year before the firm went on to merge with rival PKF O’Connor, Leddy & Holmes in 2024.
Dains, a UK accountancy group backed by investment firm Horizons, acquired McInerney Saunders Chartered Accountants in Dublin early last year and has given the Irish firm a mandate to find follow-on deals.
Waterland has been one of the most active private equity firms in the Republic in recent years, snapping up mid-market companies across a diverse range of industries, including fire protection and data centre cabling.
