PEI's MacPherson Roche Smith joins Grant Thornton

11 October 2018 2 min. read
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Grant Thornton LLP has acquired Charlottetown-based accounting and consulting firm MacPherson Roche Smith. Terms of the deal were not disclosed.

Founded in 1980 in Charlottetown, MacPherson Roche Smith has been providing individuals and businesses in Prince Edward Island with accounting and consulting services for almost 40 years. The firm has focused on service provision to owner-managed businesses in the retail, food and beverage, hospitality, and manufacturing industries.

In addition to accounting and tax services, MacPherson Roche Smith provides advisory support in the areas of mergers and acquisitions, litigation, valuation, and succession planning.

The Atlantic Canadian firm has now been acquired by Grant Thornton Canada, which together with Quebec’s Raymond Chabot Grant Thornton employs over 4,000 people in offices across the country. The Toronto-based accounting and consulting firm offers a full suite of advisory services in addition to its core offerings of audit and tax. It is part of Grant Thornton International, which is composed of a network of member firms employing 50,000 people across over 130 countries.PEI's MacPherson Roche Smith joins Grant ThorntonThe deal will see Grant Thornton add 25 professionals to its ranks, including MacPherson Roche Smith’s five partners: Stan H. MacPherson, Hal J. Roche, H. Andrew Smith, Angela Malone, and Ryan Pineau.

As always, cultural fit was a big selling point for both parties to the transaction. "Joining Grant Thornton was a natural fit because they are a like-minded firm―they possess a solid client-first ethic and a positive community spirit," said Smith. "We share a mutual respect. We're proud of our people and clients, and see the blending of our firms as a great opportunity for all concerned."  

Kathy O'Rourke, Managing Partner, Prince Edward Island, Grant Thornton, added, “The culture that the MacPherson Roche Smith team has developed feels much like ours. When you blend two teams that have a common culture they have unlimited potential to further strengthen ties with business and community leaders. Our colleagues, together as a team, will continue to offer an exceptional experience for our clients by offering a full range of services."

In related Maritimes news, Grant Thornton has partnered with Halifax-based innovation hub Volta to help support Canadian startups. The consultancy will mobilize its business consulting talent to help new businesses successfully transition through the different stages of development, advising on finances, government incentives, business planning, and value creation.