Czech companies from the Grant Thornton consulting group and the majority of the former domestic firms from the BDO group have agreed on a merger. They will be operating on the Czech market under the global Grant Thornton brand from April.
This event has given birth to the fifthlargest and fastest-growing consulting group in the Czech Republic with a turnover exceeding CZK 750 million and which now employs over 500 professionals in the fields of taxes, audit, accounting, management consultancy, IT consultancy, law, economic expertise and valuation, and payroll processing. The aim of this new, strong player is to wake up the currently sleeping consulting firms market.
“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 Grand Thornton forwards,” says founding partner of Grant Thornton Czech Republic and current Grant Thornton Advisory managing partner, David Pirner.
“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,” explains founding partner of Grant Thornton Czech Republic, Tomáš Brabenec, who until now was a partner at some of the former BDO companies.
“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,” adds founding partner of Grant Thornton Czech Republic, Ivan Fučík, previously a partner at the audit and tax consulting company Fučík & Partneři.
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.