And no, we’re not talking about the unification process that’s underway across Canada that will bring all 40 accounting bodies under the CPA banner. Instead, we’re talking about good old fashioned mergers and acquisitions.
It seems even accounting firms are getting into the M&A act.
Kitchener accounting firm Dube & Cuttini Chartered Accountants LLP announced
on their blog early in the week that they are merging with BDO Canada LLP, one of the largest accounting and advisory firms in the country with 2013 gross revenue of $465 million, over 100 offices and more than 3,000 employees coast to coast.
Interestingly, it appears that BDO specifically targeted Dube & Cuttini for its real estate expertise despite the fact it advises clients in many different sectors of the economy.
The two partners, George Dube and Peter Cuttini, commented on the deal in a blog post to staff: “In BDO, we have found a like-minded entrepreneurial partner that is looking for specialized expertise to grow their national industry practice. We truly feel we have found a team with a smaller-firm feel, whose policies and fee structures are similar to ours, and who are focused on exceptional service.”
As part of the transition all 15 of the staff including partners will move into BDOs Kitchener-Waterloo office at the end of January. There they will join the rest of BDOs national real estate team to provide accounting and advisory services to clients around the world.
Which accounting firms will be playing the M&A game in 2015? Stay tuned because if recent activity
on both sides of the border is any indication, there will be plenty more to come.