West Midlands businesses now have a gateway into the German market following the merger of Mazars in the UK with German audit and tax consultancy Roever Broenner Susat.
As a result the international accountancy firm has set up a “German desk” to advise companies seeking to expand in Germany.
The new team includes staff from Mazars’s Birmingham office.
Birmingham partner Ian Holder and tax director Vesko Petkov, who speaks fluent German, will be part of the team.
Ian Holder said: “The new German desk provides further evidence of Mazars’ international connectivity. We will be able to put Midlands companies directly in contact with our German colleagues who work in and understand the local marketplace.
“It is essential, when entering a new market, that companies understand not only the national and regional regulations involved but also the culture of business in a new country.
“Working as a seamless team, we can now offer structured advice for UK companies seeking to gain competitive advantage in Germany by launching with all the groundwork done and their preparations in place.”
The merger with Roever Broenner Susat creates a German business with more than 1,000 staff, 68 partners and a turnover of 110 million euros.
The merger means Mazars will rise several places amongst the largest German firms, moving from 15th to 8th position in the world’s fourth largest economy. The new business will provide a strong platform for further growth in Europe, and in Central and Eastern Europe in particular.
Mazars has focused on strengthening its international presence in order to better serve its international client base. In doing so, it has more than doubled in size in the last ten years to over 1.2billion euros turnover and has increased its geographic presence from 38 to 73 countries.
Mazars Group CEO and Chairman of the Executive Board, Philippe Castagnac, commented: “We are delighted to have completed the merger and to be welcoming Roever Broenner Susat partners and staff into our firm.
“Mazars has made a decisive move to strengthen its position at the heart of Europe’s biggest economy.
“Mazars has a very strong European heritage: one important part of the rationale behind the transaction is to take advantage of new opportunities arising from the EU’s audit reform legislation, which will become binding in 2016 and has the potential to change the face of the market.”
Commenting on the deal and its significance for Mazars in the UK, International Board member and Mazars UK Senior Partner Phil Verity said: “This is great news for Mazars in the UK, as Germany is the UK’s second largest export market globally after the US.
“We already work with a significant number of German-based clients, as well as UK clients doing business in Germany.
“The merger gives us further opportunities to strengthen our Anglo-German business. To support growth we have established a new German desk, drawing on the skills of staff from across six UK offices.”
Roever Broenner Susat is one of Germany’s leading independent medium-sized audit and tax consulting firms with 54 partners and 750 employees across ten offices.
Mazars in Germany currently has 14 partners and 265 dedicated staff members across six offices. Christoph Regierer and Gregor Kunz of Roever Broenner Susat will join Mazars’ Group Executive Board and the Group Governance Council respectively. There are no plans to close any offices or reduce headcount.
Gregor Kunz, Dr. Christoph Regierer, Dr. Jost Wiechmann of Roever Broenner Susat said: “Mazars and Roever Broenner Susat share a very similar culture and set of values based on independence, dedication to clients and a strong entrepreneurial spirit.
“Our service offerings are highly complementary and the merger means that our clients will have access to the outstanding breadth and depth of expertise provided through Mazars’ unique international integrated partnership.”
The merger will be effective after approval by the German competition authorities.
