MNP strengthens Newfoundland presence, buys DMK CPAs
MNP, a national mid-market accounting and consulting firm, has acquired DMK Chartered Professional Accountants, a St. John’s-based accounting firm.
Founded in 1989 and led by Doug Kirby, DMK has 10 team members and provides accounting and consulting services to clients in a diverse range of industries.
MNP’s acquisition of DMK will bolster the national firm’s presence in Newfoundland. The Calgary-headquartered firm entered the Newfoundland market in June 2020 with the acquisition of White + Abbott CPAs and Winsor Coombs CPAs.
"We've been proud to play our part in the Newfoundland and Labrador community, helping clients of all shapes and sizes to achieve their goals,” said Robert Dean, MNP's incoming managing partner for Atlantic Canada. “We are always looking for opportunities to further our commitment to the province and are very excited to welcome such a well-established firm in DMK – a firm that shares our values and client-centric approach – into the MNP fold."
MNP expanded into Atlantic Canada in 2017 when it bought WBLI, a Halifax-based accountancy. The firm entered Eastern Canada in 2008, and today has more than 60 locations in Ontario, Quebec, and Atlantic Canada, and more than 125 locations nationwide.
MNP greatly expanded its Quebec operations earlier this year when it acquired more than 20 regional offices from Deloitte. The deal added 500 employees in Quebec and another 400 across the rest of Canada.
DMK president Doug Kirby said the merger will allow his team to better serve clients with enhanced resources and capabilities in a challenging pandemic-affected business environment.
“We were looking for an opportunity to add more resources to our team, as well as more ways in which we can help give our clients the edge they need to stay competitive in what is a historically unusual time for all organizations," Kirby said. "MNP complements and enhances our current service offerings and brings greater bench strength that will help us to service our clients across St. John's and Newfoundland and Labrador."
MNP is the largest accounting and consulting firm in Canada focusing on the middle market, beating out rivals Grant Thornton/Raymond Chabot, BDO, RSM, and Baker Tilly. The firm has approximately 5,600 people from coast to coast.
