Tue, 27 Nov 2018 | MERGER
Advanced merger discussions are underway between accountancy and business advisory firms BDO and Moore Stephens LLP, with the deal expected to complete in the Spring of 2019.
With the merger, the new firm will have a gross annual revenue of £590 million and a staff of 5,000 people across the UK.
Votes from partners of both firms have confirmed a green light for the merger, subject to finalisation of contracts.
BDO managing partner Paul Eagland said: "If ever there were a time for firms to turbo-charge their growth, it’s now. It was clear from our first meeting that we share similar culture and values.
"As professional services firms, our people are our greatest asset and it is essential that we create an enlarged business that retains the best of our similar cultures. Both firms are full of innovative people who are experts in their field – this will continue.
"BDO is in a great position in the market, both in the UK and across the world as part of an $8 billion BDO global organisation.
"In the last 12 months – in the wake of Carillion and the subsequent focus on competition in the audit market – the UK market now has a better appreciation of BDO’s capability and quality. This deal increases our credibility further and proves our commitment to competing in the top-end of the market.
"But we’ve always said that size isn’t a proxy for quality. A driver of this merger is one of sustainable and profitable growth that benefits our clients, people and capital markets alike."
With the merger, the company will look to challenge its larger competitors by providing complex audit, tax and advisory work.
For more news stories about mergers, click here. For all our business for sale listings, click here.
Established in the early 2000s, the company is a long-standing independent recruitment specialist, with a focus on the haulage, industrial and technical. Currently based in the North West, the company prides itself on its strong ethos and upholds a c...
The company provides comprehensive reinsurance brokerage services for major global clients across a range of high-value markets, receiving risk from brokers and insurance companies to be placed with either Lloyd’s or international reinsurers.
A provider of a comprehensive consultancy service covering structural and civil engineering. As a party wall specialist, the company is also able to monitor works for compliance with the Party Wall Act. Over its period of operation, the company has c...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.