BDO Limited, an audit and accountancy firm based in St Peter Port in Guernsey, has joined forces with BDO LLP, the sixth largest accountancy and business advisory firm on the mainland.
Both firms were already part of the BDO International member network, but this new agreement strengthens an already successful local business. It allows BDO Limited to access the resources of a significant firm on the mainland to offer more services to their client base, particularly in the financial services sector, and afford greater opportunities for staff.
Richard Searle, Managing Director at BDO Limited, added: “As a firm that can trace its history in the island for over 110 years, we remain as committed as ever to the local business market, our clients and the island. Incorporating our people into BDO LLP allows us reap the benefits that come with being part of a large, well-respected and UK-wide firm, whilst also maintaining local autonomy and control. Our current clients will benefit from this move, particularly as we are so closely aligned with BDO LLP in terms of its focus on exceptional client service, business strategy and service streams. At the same time, however, it allows us to think about new client areas, other areas for future growth and better training for our employees.”
Simon Michaels, Managing Partner at BDO LLP, commented: “We are delighted to welcome the people of BDO Limited into our business. To ensure that we continue to deliver, and exceed, the level of service that our clients have come to expect from us, continued investment has become a core strand of our business strategy. BDO Limited is one of the largest independents in Guernsey and has an enviable reputation. This agreement provides us with an opportunity to acquire a business with growth prospects that will also enable us to enhance our UK offering, particularly in the financial services sector. It also allows us to bring our advisory services to current and future clients in Guernsey.”
BDO Limited will continue to trade in its own name and will continue to employ approximately 50 people in Guernsey. Two of the five Directors – Richard Searle and Justin Hallett - will become Partners at BDO LLP as part of the purchase, and Searle will remain Managing Director of BDO Limited. The three remaining Directors will continue to play critical roles in the future of the company as part of the Board.