MNP expands into St. John's, Newfoundland with pair of acquisitions

Mid-market accounting and consulting firm MNP has acquired two professional services firms in the St. John’s, Newfoundland area. White + Abbott Chartered Professional Accountants and Winsor Coombs Chartered Professional Accountants will both join MNP, effective June 1, 2020.

Partners Stephen White and Michael Abbott (White + Abbott) and Darryl Winsor and Paul Coombs (Winsor Coombs) said they were “delighted” to join the national firm.

The acquisitions expand the Calgary-headquartered firm’s presence into Newfoundland and Labrador. MNP entered Atlantic Canada in January 2017 with the acquisition of WBLI, which had offices in Halifax and Truro, NS. The firm followed that in December 2019 with the acquisition of Sydney, NS–based firms MGM & Associates Chartered Professional Accountants and Jennings March Chartered Professional Accountants.

“The St. John’s area has seen increasing investment in recent years. Newfoundland and Labrador as a province has clear strengths in natural resources and energy, but there is a diverse range of industries supporting its continued growth, particularly in the areas of private enterprise, credit union, real estate and construction, Government, education, and tourism sectors; all of which MNP is already intimately serving,” Kirk Higgins, MNP’s regional managing partner for Atlantic Canada, said.

“We’ve been delighted to help MNP grow as a part of the Nova Scotia community over the last few years and are excited to do the same here in Newfoundland and Labrador by welcoming not just one, but two well-established accounting firms that share our values and client-centric approach, into the MNP fold,” he added.

Founded in 1958, mid-market-focused MNP has more than 80 locations in Canada, offering tax, accounting, and advisory services. From its power base in Western Canada, the firm expanded into Ontario in 2008, and today has more than 25 locations in Eastern Canada.

“By joining MNP we will add more resources and specialized services, which will help to provide our clients with even greater value in the future,” said Abbott.

Coombs added, “Although MNP is a large national firm, it’s always been known for being local in focus with a small-firm culture and commitment to supporting the local communities that its teams live and work in. This is something that is very important to us, and to our people, and so the ‘fit’ had to be right.”

The White + Abbott and Winsor Coombs teams will remain at their present locations for now, working with MNP’s existing team in Nova Scotia.