German consulting firm Baker Tilly Roelfs and auditing firm TPW Todt & Partner have decided to merge. The deal will expand both firm’s market presence as well as their service offering, creating benefits for their clients. As a result of the merger, TPW will take on the name of Baker Tilly Roelfs and its 270 employees will be added to Baker Tilly’s headcount in Hamburg.
Baker Tilly Roelfs is an in 1979 founded German-based management consulting firm. The firm has 1,050 accountants, auditors, lawyers, tax advisers and management consultants working from its 12 locations in Germany and is seen as one of the largest partner-managed firms in the country. Baker Tilly Roelfs is a member of the global Baker Tilly International network, which consists of 154 partner companies with more than 27,000 employees in 133 countries.
Auditing company TPW Todt & Partner (TPW Group) was founded in 1948 and is, with its 270 employees, one of the largest auditing companies in Hamburg. The firm offers its clients auditing, tax, legal, corporate finance and consultancy services and focuses predominantly on the maritime sector and the real estate sector.
In line with their ambition to expand their business and service offering, in terms of both content and geographical location, Baker Tilly Roelfs and TPW Group decided to merge. The merger will strengthen Baker Tilly Roelfs’ presence and consulting services in Hamburg and the north of Germany, while TPW Group acquires a nationwide presence through Baker Tilly Roelfs’ German offices. In addition, the firm will be integrated into the global Baker Tilly International network, providing it with access to the 154 partner companies globally.
As a result of the merger, which is expected to be finalised in the coming weeks, TWP Group will take on the name of Baker Tilly Roelfs and its 20 TPW partners and 250 employees will join Baker Tilly Roelfs’ office in Hamburg.
Commenting on the merger, Ralf Gröning, Partner at Baker Tilly Roelfs, says: “For both Baker Tilly Roelfs and TPW this strategic merger will bring numerous advantages, from which particularly our clients will benefit. On the one hand, our consulting sectors complement each other ideally. […] On the other hand, the merger also offers clear geographical advantages: TPW is entering into a long-established corporate environment with twelve branches located throughout Germany. And importantly, thanks to our global network TPW is gaining access to the world's leading maritime cities. At the same time, Baker Tilly Roelfs will be in a position to immediately expand its presence in Hamburg and northern Germany.”
Baker Tilly is not the only international network of firms expanding its market presence in Germany. Just recently, Mazars boosted its footprint in Germany by merging with Roever Broenner Susat.