UK mid-tier firm Mazars Neville Russell is set to become part of the largest firm in Europe outside the Big Five with the merger of Dutch firm Paardekooper & Hoffman into the Mazars group.
The merger will bring the firm’s total number of partners to 400, and fee income to #300m worldwide.
At number 14 among the Top 50 UK firms, Mazars Neville Russell now becomes part of possibly the largest ‘integrated’ firm to pool its fee income into one pot before sharing among partners in all its offices worldwide.
John Mellows, senior partner, said the merger with the Dutch firm was part of Mazars’ overall strategy.
‘We want a strong European platform with strong regional firms and this merger is part of that strategy,’ he said.
Jos van Huut, who becomes senior partner of the newly renamed Mazars Paardekooper Hoffman in the Netherlands said the merger brought the Dutch firm ‘strategic’ strength in its home market and gave it access to larger clients.
‘As a result of consolidation of the profession in Holland over the years we haven’t maintained our share of larger corporate clients. We think Mazars will give us a better entrance to that market,’ he said.
Despite the merger, the Amsterdam firm will continue to operate a licence to practice as Moores Rowland.
Mazars and Moores Rowland International have also entered into joint ventures in the USA.
The Dutch firm brings 63 partners and 660 staff to the Mazars group, led by group chairman, Patrick de Cambourg and started life in France as a regional outfit. After building a large presence in Europe the firm merged with fellow French accountants Guerard Viala in 1995.
With fee income of more than #100m the merged firm was dealing with more than 150 listed companies in France.
Neville Russell merged with the group in 1998 in a deal handled by merger broker Douglas Llambias who also brought the Dutch firm into the fold.
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