The Canadian firm will acquire part of the global services company's business
One of Canada’s largest accounting and financial advisory firms is to acquire a subset of the Deloitte business in the country.
Canadian-grown MNP, well-known for its debt index, will add significantly to its already-large footprint across Canada.
Around 70 Deloitte partners and almost 900 team members from across nearly 25 offices in BC, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec will join MNP.
It will substantially increase MNP’s footprint in Quebec, adding around 20 offices. The firm currently has offices in Montreal and Laval.
“MNP is a homegrown Canadian firm that was established in 1958. With the addition of the new offices we will have 126 offices from coast to coast, including in the largest urban centres, mid sized cities and the smaller rural cities and towns we find across all provinces,” said Jason Tuffs, Chief Executive Officer, MNP. “This is a very strategic addition for MNP and reflects our commitment and focus to helping clients in the private, not-for-profit and public sectors across Canada.
Anthony Viel, CEO of Deloitte Canada said that the deal fits with the global firm’s ongoing assessment of what is best for its clients.
“MNP’s commitment to this subset of our clients - who require a specific type of service and support - is an ideal fit for those organizations and our people who will be transitioning over. We truly believe MNP is best suited to fulfil this ‘win-win-win’ philosophy.”
Financial details of the transaction will not be disclosed. The deal is subject to approval by The Canadian Competition Bureau.
