PracticeAuditMazars in merger talks with New York firm

Mazars in merger talks with New York firm

Firm makes first significant step into the US accountancy market

Patrick de Cambourg, Mazars

Mazars has confirmed that it is in merger talks with NewYork firm
Weiser, currently ranked
number 24 in the US. The deal would be Mazars’ most significant foray into the
US market to date.

A merger would make the firm the sixth largest in the US if Mazars group
revenues are included. The new firm would remain Mazars and the US business
would have two years to change name.

Mazars president Patrick de Cambourg told Accountancy Age last year that the
firm had shied away from a large US presence due to concerns about the
litigation risks: “The litigation issue in the US is not solved.” He added: ”
Most would go to the biggest market, we said the contrary.”

Mazars has a presence in 50 countries other than the US.

Weiser has four offices in New York state and has 600 staff.

Mazars partners will need to vote on the deal before it goes ahead and this
is expected to take place before March. The talks are said to have been under
way for some months and Mazars has already worked with Weiser on some joint
ventures.

Mazars turns over around £100m and is the 12th largest firm in the UK based
on results up to the end of August 2009.

Weiser is a member of
Praxity,
the “gloabl alliance” of accounting firms. The Praxity network turns over around
$2.8bn annually.

Read more:

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Game director upset with Mazars

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