PracticeAccounting FirmsBDO set to lose Southampton office

BDO set to lose Southampton office

BDO Stoy Hayward this week revealed its Southampton office has been and will continue to participate in discussions with outside parties with a view to possibly leaving the group.

The ten-partner office could be set to follow the Nottingham and Leicester offices, which were snapped up by Tenon recently, while its one partner Poole office was merged with Mazars Neville Russell last week.

The firm intends to move from the regional partnership under which it currently operates to a national partnership and said there may be offices that are not part of that plan.

Tim Bentall, managing partner of the Southampton office, said: ‘We are making it our business to find out about the various outside parties in the market, and to make our own assessment of them.’

He added: ‘We are committed to BDO but we would be doing ourselves a dis-service if we restrict our options at this point. The talks are all part of a process which has been speeded up by recent events.’

Bentall refused to rule out possible talks with consolidators Numerica and Tenon, while it is known the office has been contacted by numerous brokers interested in the practice.

Numerica chief executive Tony Sarin would neither confirm or deny talks with the office, but added: ‘We are expecting to complete more deals shortly.’

Links

BDO wields axe in bid for cohesion

Firms vie for core role in Numerica

Numerica stirs new audit row

Tenon launches corporate finance arm

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