Professional services association Praxity has increased its presence in Germany following the acquisition of Hanover based Höhns and Partners by its member firm Fides. The deal will provide Fides with a footprint in Hanover and add 44 staff members to its headcount. Höhns and Partners will continue under the new brand of Fides Höhns.
Praxity is an award-winning alliance of global independent accountancy, tax and business consulting firms. Through the alliance clients have access to a wide range of skills and capabilities across 102 countries globally, including among others in managing single or long-term audit and financial reporting programmes, cross boarder tax support, business and asset evaluation and global expansion. Combined the 65 firms taking part in the alliance operate out of 625 office with 35,500 staff. Globally Praxity is the seventh largest accounting network, with total revenues of €3.8 billion.
The recent acquisition of Höhns and Partners by Praxity member firm Fides extends the strength and reach of the international Praxity alliance in Germany.
Founded in 1990, Höhns and Partners is a tax specialist firm that focuses mainly on SMEs and individuals in all aspects of tax law. The firm that is based in Hanover has four partners and an additional staff of 40.
Fides has existed for more than 90 years in the North-Western region of Germany, where it is the largest certified public accounting and consulting firm. The firm has more than 300 partners and staff in 8 offices, including Hamburg, Bremen, Bremerhaven, Osnabrueck, Leer, Rostock, Berlin and Cologne. The firm provides auditing, tax law and corporate and legal consultancy to a range of public and private organisations.
Höhns and Partners will join Fides as a subsidiary with the new brand of Fides Höhns. The deal allows the two firms to bundle their expertise into a one stop shop for tax, audit and consulting services. “Both Companies bring with them professionalism and engage broad expertise, both have outstanding reputations with their many clients through the careful, personal consulting, which will be in the future be even further strengthened by the now expanded firm,” explains Gerd-Markus Lohmann, Partner at Fides.
“With the incorporation of Höhns and Partners into the Fides Group I made the right decision,” adds Karsten Höhns, Founder and Managing Partner of Höhns and Partner. “Of course, I will continue to assist our clients in the usual way, and I am looking forward to the new challenges posed by our integration into the Fides Group.”