Experts have said business deals around accounting companies will be on the rise in 2018. They said they are expecting a busy year with increases in mergers and acquisitions, and recent business deals in Canada with some high-profile companies may prove those predictions correct. Grant Thornton, MNP and BDO recently announced mergers that are starting 2018 off with a business bang.
BDO picked up the forensic accounting firm of Ferguson + Mak LLP -- an area in which BDO wants to expand. A BDO spokesperson said the merger will help to garner new talent to the company as it continues to further escalate its positive reputation in the industry. Meanwhile, MNP, one of Canada's top accounting and consulting companies, melded with Stratège Services Comptables Inc. out of Montreal, which views the marriage as a supportive, entrepreneurial one.
Other major news to come out of the accounting sector is the merger of Ross Pope and Grant Thornton. Ross Pope is located in northeastern Ontario and Grant Thornton wanted to make an inroads into the area. Two years ago, it merged with Pope's Timmins office. With this merger, it will now have a presence in the Thunder Bay, North Bay and New Liskeard area.
These types of business consolidations often come with major legal issues for which legal counsel is invaluable. Business owners in Canada who are looking into the world of mergers and acquisitions may benefit from the advice and guidance a lawyer could provide. A lawyer could help to explain the legalities of possible deals his or her client may be thinking about making.
Source: canadian-accountant.com, "MNP, BDO, Grant Thornton announce accounting firm mergers", Colin Ellis, Feb. 2, 2018