PKF and BDO promise ‘new force’ for market

BDO and PKF believe merging will create a “new force” in the accountancy market.

The two firms confirmed their intention to join forces yesterday in a move which is expected to see PKF’s UK business separate from its international operations.

BDO managing partner Simon Michaels said: “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.”

Both organisations have offices in Leeds while PKF also has a presence in Sheffield.

Martin Goodchild, managing partner at PKF (UK) 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.”