PracticeConsultingFlotation on BDO Stoy Hayward agenda

Flotation on BDO Stoy Hayward agenda

Mid-tier firm BDO Stoy Hayward this week revealed that it is considering converting to a limited liability partnership and hinted at the possibility of a flotation.

The firm, the largest outside the Big Five, also confirmed it is moving towards becoming a single national business.

Sources close to the firm have suggested it is looking to achieve ‘something like flotation.’ One said the firm was looking at ways to ‘bring its seven or eight local firms under a single national umbrella.’

The source added: ‘The firm will be a single practice and LLP by next July. After that it would be no surprise if they went for a listing. But first the firm needs to be a single partnership.’

BDO managing partner Simon Bevan said: ‘There is no doubt looking at LLP status is on our agenda. It looks a sensible way to run a business, but we will only make a decision when we know exactly what the rules will be.

‘If we wanted to be a single practice there would be a lot of work to do and that would take some time. We would float if we thought it was the right thing to do – it is not attractive for us at the moment.’

Last month the firm unveiled fee income of over Pounds 200m for the first time.

Links

Partners culled at BDO Stoy Hayward

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer