PracticeAccounting FirmsBDO leaves Numerica scrambling for a new buyer

BDO leaves Numerica scrambling for a new buyer

RSM Robson Rhodes has become the latest firm to hold talks to buy ailing consolidator Numerica after BDO Stoy Hayward backed out.

Link: Up-for-sale Numerica reports interim loss

BDO ended preliminary talks with Numerica last week over concerns about the compatibility of the two firms. Numerica announced in a statement to the stock exchange that it had entered into talks with another firm.

Based on the latest Accountancy Age Top 50 survey, Numerica is the fifteenth largest UK firm. Robson Rhodes is twelfth, while BDO is in sixth place.

A tie up with Robson Rhodes would see the combined firm become the eighth largest with fee income of more than £112m.

Numerica will be hoping this latest round of talks succeeds to avoid prolonged uncertainty. In September, it warned that it would make a loss for the six months to 30 September and made redundancies at its audit arm to cut costs. A service sector slowdown is understood to have put pressure on Numerica’s traditional client base.

If talks fail another option for Numerica directors and former partners in its acquired businesses could be to attempt a management buyout.

Phil Shohet, director of Kato Consulting, said: ‘They’ve got to carry on with the sale because there’s so much uncertainty among clients and staff.’

Jeremy Newman, managing partner of BDO, said: ‘We had concerns about how the two firms would fit. We are in the market place to expand by acquisition and we respond to opportunities that exist.’

A spokesperson for Robson Rhodes declined to comment.

Related Articles

Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

11h Karen Baxter, Lewis Silkin
Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin