ACCOUNTANCY and business advisory firms BDO and PKF (UK) have agreed to merge.
The merger, which has been approved by partners of both firms, will be completed by spring 2013.
The firm, which will operate under the BDO brand, will employ 3,500 people in the UK, and generate revenues approaching £400m.
It will be a member of BDO International, a global accountancy organisation aimed at the mid-market, with revenues of more than $6bn.
Simon Michaels, the managing partner of BDO, said: “This is transformational, for our two firms but also the broader market. We’re delighted that two firms with similar cultures and a focus on client service will combine to create an even stronger entity next year. The merged business will have firm financial foundations and an ambition to grow. Both firms employ many talented people capable of delivering quality work to a range of clients, across audit, tax and advisory.”
Martin Goodchild, managing partner at PKF (UK), added: “The strategic decision to merge has now been made by the partners of both firms. Our primary focus as we move to completion will be to ensure both our clients and people benefit from the merger; they will be working with a resilient partnership leading from a position of strength and with a client service ethic at its heart.”