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Homegrown national accounting firm MNP kicks off 2024 with new Quebec acquisition

Lafond CPA merger gives MNP a foothold in the Bas-Saint-Laurent region of La Belle Province, close to the border with New Brunswick

Author: Colin Ellis

TORONTO, Jan. 14, 2024 – Homegrown national accounting firm MNP is expanding into new territory in the province of Quebec with the acquisition of Lafond CPA Inc. Based in the town of Amqui, which is close to the border of New Brunswick, Lafond CPA marks MNP’s first office in the Matapedia region.

As Canada's fifth largest national accounting and business consulting firm, MNP has been steadily expanding its footprint throughout Quebec since entering the market in 2011 with its first office in Montreal. 

The Amqui accounting firm is led by Julien Lafond, who will join MNP as a partner, and three professional accountants, who will also join MNP. The firm provides a range of accounting, tax and advisory services to private enterprise companies throughout the Bas-Saint-Laurent and Gaspésie regions. MNP has 25 offices in Quebec, including Rimouski, Matane and Gaspé, more than 160 partners and over 1,200 team members across the province. 

“We are thrilled to establish our presence in the Matapedia region and to support the businesses and organizations that thrive in their extended community.” said Jean-François Leblanc, the regional managing partner for the Saguenay region, in a press release. “We are very excited to welcome Lafond CPA Inc. — a firm that shares our values and client-centric approach — into the MNP fold.” 

MNP approaching the presence of RCGT in La Belle Province

Based in Calgary, MNP has grown to more than 125 locations across Canada, becoming the largest of the mid-market focused firms in Canada. In 2021, MNP acquired 22 of Deloitte’s offices in Quebec, in a deal that made sense for both firms. (Deloitte Canada continues to maintain its position as the first in revenue among Canadian accounting firms at more than $2 billion.) 

In 2022, MNP added three more accounting firms in Quebec, after announcing a Montreal acquistion to close 2021. With 25 Quebec offices in total, MNP is approaching the market presence of provincial-leader Raymond Chabot Grant Thornton, which has more than 60 offices in Quebec, including one in Amqui. 

"We have grown quickly but we are absolutely committed to maintaining our culture and so have always been very strategic about who we invite to join our team," said Jeremy Cole, executive vice president for the GTA and Quebec, in a press release. "We are known across the communities we work with as being one of Canada's most-trusted professional services firms, so we are excited to welcome a very well-respected practice in Lafond CPA Inc. into the MNP family. Our cultures and values are well-aligned, and we share the same entrepreneurial, trusted approach to doing business." 

Lafond CPA Inc. founder and partner, Julien Lafond, said that the merger strengthens his team’s ability to offer a holistic package of professional services to their existing clients. “We are particularly excited about MNP’s strong focus on the Bas-Saint-Laurent region.” said Lafond. “MNP complements and enhances our current service offerings for our clients and brings greater bench strength that we believe will help us provide even greater value to our clients across the Matapedia business community.” 

Colin Ellis is a contributing editor to Canadian Accountant.

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