Partner Article

Auditors BDO merge with accountancy and advisory outfit

Auditors BDO have merged with advisory and accountancy firm PKF (UK) LLP, creating a new company that is estimated to generate £400m revenues.

The merger will happen under the BDO brand, and is expected to be complete by spring 2013, when PKF LLP has more than 1,200 partners and staff operating across 20 offices in the UK, and comprises a wholly-owned financial planning company and associated offshore practices.

The firm specialises in growing entrepreneurial firms and owner-managed businesses.

Simon Michaels, Managing Partner of BDO LLP, commented: “Our two firms share a closely-aligned vision to lead in the mid-market, as well as similar cultures and a commitment to deliver exceptional client service. The merged firm will have a strong balance sheet, as well as unrivalled sector and geographic strength in many areas.

“The PKF team will enhance and complement our offerings to clients, bringing consulting expertise along with wide experience across audit, tax and advisory arenas. This exciting development demonstrates that both firms are ambitious for growth.”

Martin Goodchild, Managing Partner at PKF (UK) LLP, added: “This is a good strategic decision for both firms who have a desire to lead, from a position of strength, the inevitable consolidation of the mid –tier which is long overdue. PKF has built a strong national business dealing with a wide range of clients, particularly entrepreneurs and listed companies but including other markets such as public sector and not for profit. This combination will ensure a strong profitable business, creating opportunities for all of our people and our clients, as it will enable them to benefit from new expertise and increased global reach.”

This was posted in Bdaily's Members' News section by Tom Keighley .