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April 17, 2015

Kreston UK member firm merge announces another competitive year in the UK

Kreston UK has announced a merger between member firm BHP and Cleckheathon-based Clough & Company.

BHP, the largest independent firm in Yorkshire and a member of the Kerston International global accounting network, has merged with Clough & Company in a move that will create a regional practice with six offices, over 270 staff and revenue of approximately £18m.

As a result, Kreston UK will now count 1,970 staff and annual fee revenues of £127m, according to the international network.
This latest move promises another year of fierce competition in the UK market as Kreston could overtake Baker Tilly international in the rankings.

According to IAB latest UK survey, Baker Tilly international ranked as the 11th largest global network in the UK with revenues of £119m in FY14. Kreston International ranked 12th with total fee income £ 115.1m in the year to 31 October 2014 and Moore Stephens International ranked as the 10th largest network with £ 129.7m in revenue.

However last week DFK International and Moore Stephens International UK member firms announced they would merge effective 1 May and trade under the Moore Stephens banner.

DFK International said they were on the lookout for a replacement firm suggesting that 2015 still holds some surprises in the M&A market.

 

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