Bondholder BDO has completed a merger with Moore Stephens LLP, creating the largest UK accountancy and business advisory firm focused on mid-sized, entrepreneurially-spirited businesses.
The merged firm will operate under the BDO brand and as part of BDO’s international network, which has 80,000 people and revenues of $9bn across 162 countries.
In the UK, BDO LLP now has a combined workforce of 5,000 people across 17 locations, delivering revenues of £590m.
The merger will make BDO the third biggest auditor of listed companies, strengthening its position as calls to improve quality and competition at the upper end of the audit market continue.
In addition, it cements BDO’s ranking as the UK’s leading auditor to AIM-listed companies and will enhance its expertise in sectors including financial services, insurance and shipping.
Paul Eagland, Managing Partner of BDO, said:
“The audit market is going through a significant period of reform and our clients are facing unprecedented uncertainty as Brexit looms and global trade undergoes fundamental changes.
Notwithstanding these uncertainties I’m confident that a combination of our 5,000 people and our reputation for trust and quality, puts us in a fantastic position to help our clients and our people to capitalise on the opportunities that always accompany such change.
“Our clear sense of purpose and growth strategy will help our entire team make this merger a huge success.”
The merger follows the company’s 13-year high record for deals and volumes during 2018.
The East Midlands corporate finance division of BDO had another record year of deals, with Deal volumes growing over 40% in 2018 with a combined value of more than £21.8bn.