MNP acquires Kingston, ON accounting firm Collins Blay

Accounting and consulting firm MNP has acquired Kingston, ON’s largest independent accountancy – Collins Blay LLP. The move builds up the Calgary-based firm’s Ontario presence with a new Kingston location.

Founded in 1958, MNP, formerly Meyers Norris Penny, is Canada’s fifth largest national accounting and consulting firm. The firm has 4,000 employees in over 70 offices stretching across the country. In addition to audit and tax, MNP provides a range of consulting services, including business strategy, performance improvement, human resources, and technology offerings.

The Calgary-based consultancy first moved into the Ontario market in 2008, and since then has grown its footprint in Canada’s most populous province to the tune of 21 offices. Now, as part of MNP’s plans for further expansion in Ontario and Eastern Canada, the firm has acquired accountancy Collins Blay – and with it, a new office in Kingston, Ontario.

The largest independent accountancy in Kingston, Collins Blay provides a range of audit, accounting, and tax services to a diverse client base – including individuals, owner-managed business, the public sector, and not-for-profits.The transaction will see Collins Blay (not to be confused with the nearby town of Collins Bay or the prison which bears its name) remain at its current location at 27 Princess St. in downtown Kingston, though the office will be rebranded as MNP.

As part of the extensive MNP network, the Collins Blay team will gain access to a wider range of advisory expertise, as well as the combined capabilities of 4,000 professionals across Canada. "Changing and dynamic market conditions are impacting the way businesses must operate – including our own firm," explained the partners of Collins Blay. "We are continually looking at new ways to help our clients achieve their goals, so one of our own goals is to enhance our current service offerings across all of the key sectors in our local economy.”

“By joining MNP we can add more local and national resources, more specialized services and a broader range of industry expertise and experience - all of which will provide our clients with even greater value in the future.”

MNP’s advisory offerings run the gamut, from cybersecurity to investigations to turnaround & restructuring. Revenues from consulting make up an increasing proportion of fees in many accounting and consulting firms – like the Big Four, for example – threatening to overshadow the core audit and tax functions that built up the firms.

Meanwhile, MNP is enthusiastic about the prospect of extending its services and brand into the community of Kingston. "Kingston offers a stable and diverse economy that is particularly strong in private enterprise, healthcare, post-secondary education, and tourism; all of which MNP is already intimately serving," commented Jeremy Cole, Executive Vice President, Ontario, Quebec and Atlantic Canada, MNP. "We are excited to build on the strong presence our MNP teams have servicing diverse clients in Eastern Ontario, and are looking forward to helping more businesses in the area reach their full potential."

The Kingston office will join MNP’s Eastern Ontario locations in Brockville, Cornwall, and Ottawa. Terms of the deal were not disclosed.

The transaction follows MNP’s recent acquisition of Ottawa public sector-focused management and tech consultancy 4Plan Consulting. The deal will see 4Plan’s consultants join MNP’s Kanata office.