RSM Robson Rhodes is planning to merge with American firm RSM McGladrey. The two firms have already signed an agreement in principle, but the association is subject to final due diligence and the execution of definitive agreements.
David Maxwell, managing partner of Robson Rhodes said: ‘This transaction is a bold move designed to address the call for greater choice and to meet the growing needs of the international mid-market. The resulting organisation will also enhance career opportunities for our people who will become part of a leading organisation that is taking the industry in a new direction.'
On disclosing the news in a joint statement, the firms billed the move as a joining of forces, but it has been described as a takeover by the Stateside division on the US newswires.
Robson Rhodes has been in the spotlight recently as it became the subject of an AIDB investigation as former auditors of software company iSoft.
It also won the prestigious contract for the FSA audit in a move that was largely seen as sending a message to the accounting sector that the mid-tier was capable of handling plum audits.
Former managing partner Sukhbinder Heer set out plans to catapult the firm’s revenues past £200m by 2007, but its inability to meet his ambitious designs saw him stand down in May. During his time at the helm he doubled revenues to £85m, but he hinted that he left the firm because of a lack of entrepreneurial spirit among the partnership.
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