Deloitte Ireland has acquired Cahill Taxation Services in Ennis, creating what the firm claims is the largest tax practice in Limerick and Clare.

Established in 2007 by Fergal Cahill, CTS provides a full suite of tax consultancy services, spanning corporate restructuring, company and business sales, mergers and acquisitions, succession planning and revenue audits.

Deloitte said the acquisition will grow its Mid-West tax practice to 45 people and the local office to over 150 people.

Fergal Cahill is joining Deloitte as a Tax Partner within the Deloitte Private offering.

Fergal Cahill (47) commented: “Having started Cahill Taxation Services 15 years ago, I see this as a natural evolution of our growth story. Combining forces with Deloitte to become the biggest tax advisory team in the region enables us to deliver a wider range of services to our clients across various industries.

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“We are excited to have the opportunity to join a global leader to help propel even more local businesses forward. I have been blessed with loyal clients and staff and this exciting development is a testimony to their support of my business throughout the past 15 years.”

CTS Cahill Taxation Services Ltd booked a net profit of €220,000 in 2020 and had a net worth of €1.1m at year end.

Trade debtors were €600,000 with long-term work in progress valued at €280,000 in the balance sheet. The company employed 12 people in 2020.

CTS Cahill Taxation Services Ltd is owned by unlimited company CTS Cahill Holdings, where Fergal Cahill owns 99% of the equity.

Harry Goddard, CEO, Deloitte Ireland, stated: “This is a significant milestone in our business as we expand our tax practice in the Mid-West to create the largest tax practice in the region. I look forward to seeing the positive impact CTS will bring to our team.”

Karen Frawley, Deloitte’s head of tax in the Limerick office, said: “We’ve seen tremendous growth opportunities in the Mid-West over the last number of years across both our multinational and private clients.

“Fergal and his team bring tremendous experience working with family-owned businesses and high-net worth individuals. At a national level this enhances our position as one of the leading firms advising Irish owned family businesses and private clients.”

The acquisition is expected to come into effect on June 1.