Cork firm MC2 Accountants acquired by financial services giant S&W

Cork accountancy firm MC2 Accountants partners James McMahon, Pamela Murphy and James Loughrey, with John O’Callaghan, Managing Partner, S&W Ireland. On Wednesday, S&W announced it acquired the Cork firm. Picture: Brian Lougheed

Financial services firm S&W has reached an agreement to acquire MC2 Accountants, one of the largest practices in Cork.

MC2 is one of Munster’s leading audit, tax, and business advisory firms, providing end-to-end financial and business solutions. Established in 2013 by Jim McCarthy and Seán McSweeney, MC2’s business incorporates Parfrey Murphy, which it acquired in 2022.

The deal announced on Wednesday will see 47 staff including four partners, join S&W’s Ireland business, which currently employs around 115 people and was recently bolstered by the acquisition of Dublin-based Beechwood Partners.

“We are proud of the growth we have achieved as an independent practice, and now is the right time to take the next step in our journey by joining S&W," said MC2 Accountants partner James Loughrey. "Becoming part of a larger organisation gives us the infrastructure and wider capabilities to continue to deliver joined-up solutions across multiple service lines, ensuring we can support clients as their needs become more complex in a more challenging world."

“Importantly, S&W’s strong focus on private clients and owner-managed businesses aligns perfectly with our own. The success of MC2 has been built on the support of our dedicated team and loyal clients, and this move will benefit both.”

Established in 2005, S&W has more than 2,000 employees and more than 130 partners operating from 16 towns and cities in Ireland and the UK and is a leader in the accountancy mid-market. S&W offers tax advice, assurance and business services including recovery and restructuring, transaction services, and forensic advice.

"Partnering with the MC2 Accountants team gives us a strong foothold in Cork - a dynamic, fast-growing city - and enables more clients to access our full suite of high-quality accountancy and advisory services," said John O’Callaghan, managing partner in S&W’s Ireland business.

S&W was launched in March 2025, following the sale of Evelyn Partners’ professional services business to Apax Funds. Drawing on the heritage of Smith & Williamson, which was founded in 1881, S&W has more than 2,000 employees and more than 130 partners based in Ireland and the UK.

There has been significant consolidation of the accountancy and financial services industry in Ireland and in Britain in recent years. On Tuesday, HLB Ireland, a leading provider of accounting, audit, and advisory services, significantly expanded its arts and entertainment client services with the addition of Peter Daly Chartered Accountants, a specialist practice advising artists, performers, and creative professionals. This is HLB Ireland’s ninth acquisition in seven years, bringing the firm’s total headcount to more than 120 professionals. Backed by Cardinal Capital, the firm is pursuing a strategy to treble in size within five years.

“With this deal, HLB Ireland becomes one of the select Irish professional services firms with a dedicated focus on the arts and entertainment sector," said HLB Ireland managing partner Mark Butler.