Grant Thornton and BDO merge in Czech Republic
Grant Thornton CZ and the majority of the former domestic firms from the BDO CZ have agreed on a merger.
They will be operating in the Czech market under the Grant Thornton brand from April. The combined firm will be the fifth largest in the Czech Republic with a turnover exceeding CZK 750 million and over 500 professionals.
Based on the final agreement signed on 30 March 2020, the new Grant Thornton Czech Republic a.s. holding brings together Grant Thornton Advisory, Grant Thornton Valuation, Grant Thornton Tax & Accounting, Grant Thornton Audit, and also Fučík & Partneři and former members of the BDO group, now under the GT TAX, GT Appraisal services – Expert Institute and GT Accounting & Payroll brands. All these companies will be moving into new shared office space this autumn.
Grant Thornton Advisory managing partner, David Pirner said “We consider this merger a great opportunity to build a stable consulting firm in the Czech Republic, which is a very important goal considering current economic developments. Grant Thornton has become the fifth-largest consulting company in our market. What is more, in many fields we are already the strongest company and now it is time to push the whole of Grant Thornton forwards”
Tomáš Brabenec (who until now was a partner at some of the former BDO companies) said “A long-term vision of successful business for the whole group is important to us. Last year, when we initiated close cooperation with professionals from Grant Thornton, we quickly saw that we shared the same ideas about business. Thanks to this experience, we decided in favour of considerably closer cooperation, which in turn led to this merger under the Grant Thornton brand”
Ivan Fučík (previously a partner at the audit and tax consulting company Fučík & Partneři) said “During the past two decades of our presence in the market, we worked our way up to join the strong players and achieved the maximum as an independent Czech company. Joining a prestigious international network was the logical next step for us since it enables us to further develop our knowledge and experience.”
Grant Thornton Czech Republic is a part of the international consulting firm Grant Thornton International Ltd. with its registered office in Great Britain. It operates in 140 countries, where its expert services are provided by around 56,000 professionals.