BDO BUYS FORENSIC FIRM
28 October 2010,
ACCOUNTING firm BDO has bought out a local litigation support and forensic accounting practice, with annual revenues of $1 million in an undisclosed deal.
BDO’s managing partner in Brisbane Tony Schiffmann, says the acquisition of MPW Forensic is not expensive by the firm’s standards, but will help boost its presence in a specialist area of expertise.
“We went out to the marketplace to see if anyone was interested in joining us and wee see plenty of opportunity in the market at this time, given the timing of the economic cycle, certainly with the amount of litigation and disputes higher than previously,” he says.
“It’s strategic, as we’ve had partners in that area but it’s much bigger than what we could service with our existing resources. It’s a somewhat niche offering and we think there’s opportunity to take market share off others.”
MPW directors David Williams and Onus Maynes and their team will join BDO.