MNP buys more than 20 regional offices from Deloitte Canada

MNP, a national mid-market accounting and consulting firm, has acquired nearly 25 regional offices from Deloitte Canada. The transaction, for which terms were not disclosed, is expected to close on March 1, pending approval from regulatory bodies.

MNP will add approximately 70 Deloitte partners/senior leaders and 900 team members across BC, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. The bulk of the acquired offices are in Quebec, where MNP will add 500 employees to its current 300-person headcount. The Calgary-based firm entered the province in 2011 with a Montreal office, and subsequently added locations in Longueuil and Saint-George en Beauce.

MNP in 2019 acquired Montreal firms KBHNS and Mobilis Strategic Advisors.

Following a strategic review, Deloitte Canada has decided to divest many regional offices specializing in audit, tax, and advisory services for small businesses. As a Big Four accountancy, the firm does the bulk of its work with large organizations in major urban centers. In Quebec, Deloitte will retain more than 2,000 staff across its offices in Montreal, Brossard, Laval, and Quebec City. The firm has 11,100 employees in Canada.
“We continuously evaluate opportunities to adjust our market focus and find innovative ways to help growing organizations, dealing with complex issues, with our wide scope of services and global footprint, in all regions of Canada," said Anthony Viel, CEO of Deloitte Canada.

Deloitte in 2019 sold its small market Prince George, BC practice to MNP.

Deloitte will focus its investment on technology capabilities and services – including AI, cybersecurity, data analytics, and cloud services – which have seen accelerated demand in the pandemic period.

With the sizable transaction, MNP will maintain its commitment to serving small- and medium-sized enterprises via a local delivery model.

Founded in 1958, MNP was originally a Western Canada region accounting and consulting firm. The firm expanded into Ontario in 2008, Quebec in 2011, and Nova Scotia in 2017. Prior to the Deloitte transaction, MNP had approximately 30 offices in Eastern Canada and 50 in Western Canada. The deal will bring MNP’s national headcount to nearly 5,600 people – with more than 100 offices in large urban centers, mid-sized cities, and smaller rural cities and towns.

"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,” said Jason Tuffs, CEO of MNP. “Our specialized services, expertise, and experience will be enhanced by the Deloitte partners and team members who are joining us. We are thrilled to welcome these professionals to our firm."