EY has today announced the acquisition of the business of Frank Hirth Plc (Frank Hirth), a market leading firm providing UK and US personal tax services, which is highly regarded in the private client business market.
195 employees, serving 4,000 clients of Frank Hirth, will form part of the acquired business, soon to be operating as EY Frank Hirth Limited, and will join the EY Private Tax teams.
The acquisition is expected to drive forward the EY ambition to be a leading organisation in private tax services, and to provide clients with a high quality service, insights and experience as they face the increasing complexity of UK and US tax issues.
Kate Barton, EY Global Vice Chair, Tax said: “This is a landmark acquisition. It further strengthens the EY presence in professional services around the world and Frank Hirth’s significant experience in personal tax services in the UK and the US will help provide valuable services to EY clients. The cross-border tax landscape is increasingly complex and extremely fast moving, and this acquisition will allow EY teams to bring even more insight and knowledge to help EY clients navigate the issues that they face in relation to UK and US tax.”
Jeff Soar, EY UK&I Regional Managing Partner, Tax & Law, commented: “Private businesses and their owners are the heartbeat of the UK economy and play an increasingly significant role in driving economic growth and prosperity. The acquisition of the business of Frank Hirth represents a significant investment and is a bold statement of intent, aiming to position EY as a leading organisation in providing private client tax services in the UK.
“It demonstrates the EY ambition, commitment, and dedication to exceeding client expectations across the UK and the world. We look forward to welcoming Frank Hirth’s professionals and clients to the EY organisation at what is an exciting period of ambitious growth and development.”
Alison Kay, EY UK&I Regional Managing Partner for Client Services, commented: “The acquisition will help provide further valuable services to EY private clients, by bringing additional competencies to the organisation rapidly. 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 acquisition is part of the wider growth strategy in the UK and Ireland for the next three to four years.”
Robyn Limmer, former Frank Hirth CEO, now EY Frank Hirth Limited senior Partner, said: “Throughout our discussions with EY professionals it has been clear that we share common values and goals, and so this has felt like a natural fit from day one. This is a great chance for us to come together, to propel our collective US and UK private client businesses to a new level, whilst maintaining and enhancing the exceptional client service we are known for. The business of Frank Hirth coming into the EY organisation is an exciting proposition and one that we know our people will embrace to fulfil their individual potential.”
EY Private Tax professionals now number over 550 people across the UK and bring together tax and business professionals that share a passion for serving the broad needs of private businesses and their owners.