BDO, the world’s fifth largest accountancy network, has announced a merger with SOVEC, an auditing and chartered accounting firm based in Rhône-Alpes. The move significantly develops the firm’s geographical coverage in this region.
BDO in France had until now more than 500 staff and 50 partners working out of 19 offices in Paris, Ile de France, Bourgogne, PACA and Grand Ouest. In 2011, the firm’s revenue was €51 million.
SOVEC operates in 5 departments in Rhône-Alpes and Hautes-Alpes and the merger takes BDO to 8th position amongst accountancy firms in France, with 750 employees and a €69 million revenue.
SOVEC was founded in 1960 in Grenoble and has a presence in Lyon and 13 other Hautes Alpes, Drôme, Isère, Savoie et Haute-Savoie cities. The firm has of total of 260 staff working on audit, accounting and advisory assignments for SMEs and its global fee income was €18 million in 2011.
“This new relationship with SOVEC is an important new step in BDO’s development, “ says Michel Léger CEO of BDO France. “It reflects our ambition to be present in every region in France. Partnering with SOVEC was an obvious step, as we share a similar culture based on our service excellence and our close relationships with clients.”
The French member firm of BDO was created four years ago when 3 firms merged and BDO went on to acquire FIDEA, an audit and advisory leader firm in Grand Ouest in November 2010, and Audit Expertise Services in September 2011.
“Being part of the BDO network means that we can offer more services to our clients, together with support at both national and international level. I am quite sure that we in France will be able to benefit from the strength of the world’s fifth largest accountancy network” says Rolland Nino, CEO of SOVEC.
With the support of the international BDO network, the French firm’s major clients include HSBC France, Yves Rocher, Clarins, Arc International and Saunier Duval, as well as a portfolio of SMEs. Bringing Sovec’s expertise in audit, chartered accounting and statutory auditing to the mix is an additional asset to offer clients, as is the greater proximity brought about by the firm’s broadened geographic coverage.
Contact BDO
Delphine JOUENNE
01 83 64 71 72
06 68 68 18 51
djo@enderby.fr
Contact SOVEC
Stéphanie GUICHARDON
04 72 61 05 79
06 83 98 05 07
Stephanie.guichardon@sovec.fr