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March 20, 2011

German firms RöverBrönner and SUSAT merge

A German member of Moore Stephens International, RöverBrönner, is merging with former Grant Thornton firm SUSAT.

RBS RoeverBroennerSusat (RBS) will employ more then 700 staff, 210 professionals, 41 partners and has annual fee income of between €70 million to €80 million. SUSAT has 450 staff and 20 partners that will join the RöverBrönner team. RBS has eight offices in Germany with headquarters in Berlin and Hamburg.

In terms of revenue, the firm would be placed among the largest 10 firms in Germany and Moore Stephens Deutschland is among the two largest networks of independent firms in the country.

RBS provides audit, tax and consulting services for larger medium-sized companies in real estate, financial services, insurance, health care and trade sectors.

SUSAT partner Hendrik Jung said RBS plans to growth and aim to rapidly improve the position among the largest audit firms in Germany.

Gregor Kunz, a partner at RöverBrönner, added: “Our company’s special expertise in the area of taxes and law is complemented very well by the special know-how in the areas of accountancy and corporate finance at SUSAT.”

In September, Grant Thornton International announced it was moving from a network of independent firms model to single firm coverage in Germany. Warth & Klein was chosen as Grant Thornton’s sole firm from October 2010 with the four other federation firms, including SUSAT, to leave the network by mid 2011.

In Germany, it is common for groups of strong regional firms to operate within globally branded networks rather than operate as a national firm, although consolidation in the market is expected to continue.

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