PwC Ireland has announced its acquisition of accountancy firm Twomey Moran Partners, one of the largest independent tax advisers in the country.
The professional services giant, which has not disclosed a fee for the transaction, said the Dublin-based firm’s 19 staff will join PwC’s private business unit along with the firm’s principals, David Moran, Paul Morris and managing director Kieran Twomey, who join as partners.
PwC Ireland said the acquisition will help it achieve its ambition to become the leading professional services practice dedicated to private clients and business in Ireland.
The company was founded in Cork by Mr Twomey in 2010 after the break-up of his former partnership, Twomey Kennelly. The firm has offices in Barrow Street, Dublin 4. He serves on the Irish Taxation Institute’s governing council and previously worked at PwC between 1989 and 1994.
Confidential price tag
A spokeswoman for PwC said the price paid for the company was “confidential”. Profits at the company behind the business, which was recently renamed PwC Tax Services, more than doubled to €726,000 in the year to the end of July 2021, compared to €346,000 the previous year, accounts filed earlier this year reveal.
“We are delighted to join PwC Ireland because it presents great opportunities for our people and our clients,” Mr Twomey said in a statement, “for our people, unrivalled career opportunities in the PwC network; for our clients, great growth opportunities as well as access to PwC’s full service offering. All of us at Twomey Moran look forward to working with our PwC colleagues, continuing to provide unrivalled client service to our clients into the future.”
Susan Kilty, tax leader at PwC Ireland, said Twomey Moran had “huge growth potential” and strengthened the professional service giant’s “ability to deliver an unrivalled service to Ireland’s private business, family business and high-net-worth individuals across the country”.
She said: “In particular, it will also provide continued excellent career opportunities for our people working at PwC Private. We welcome all of our Twomey Moran colleagues to the PwC family and look forward to working with them, as, together, we grow our private business practice into the future.”
