Crowe Horwath International’s Norwegian firm is to join BDO Norway, creating a firm of a similar size to Deloitte. The merger, effective 1 July, will add more than 100 employees to BDO and increase annual revenues to about NOK1.1bn ($206m). Deloitte’s Norwegian firm reported revenues of NOK1.14bn in fiscal 2010/11.
BDO Norway has been expanding rapidly in the past two years by merger and acquisition. Recently, the firm acquired integrity services firm G-Partner and accounting and advisory firm Revisjon, a former Praxity member firm.
BDO Norway’s revenue has shot up nearly 50% in the past couple of years. Prior to the Crowe Horwath merger, BDO Norway reported annual revenue of NOK1.05bn.
“I am delighted to welcome Crowe Horwath’s 100 highly competent employees to BDO, and I am certain that they will feel at home from day one,” said BDO Norway managing partner Trond-Morten Lindberg, a recent winner of the IAB Young Accountant of the Year Award.
“We all have a proactive and non-bureaucratic approach and we know how important it is to be available for our clients locally.”
Crowe Horwath managing partner Dag Ramsberg said the merger with BDO was attractive to the Crowe Horwath firm due to a good cultural match.
“BDO now becomes an even more competitive challenger to the large and traditional accounting and advisory firms in Norway,” Ramsberg said.