SUSAT and RöverBrönner, two of Germany’s leading medium-sized audit and tax consultancy firms, are merging. “Both of the firms strategically complement each other excellently,” said Gregor Kunz, partner at RöverBrönner. “Our company’s special expertise in the area of taxes and law is complemented very well by the special know-how in the areas of accountancy and corporate finance at SUSAT.” Dr. Thoralf Erb, partner at SUSAT emphasized: “With over 75 million euros annually in fee earnings, the company is reaching the critical size to put itself forward for larger clients and auditing contracts.” The new company will trade under the name RBS RoeverBroennerSusat and will be headquartered in Berlin and Hamburg.
RBS‘s special industry focuses are in the areas of real estate, banks and insurance as well as health care and trade. Both partners are traditionally focused on medium-sized enterprises. Large medium-sized companies, especially family businesses and private corporations compose the core target group of both of the firms. “Together we can offer these customers our consultation and services not only at eight locations in Germany, but through the membership in the international network MOORE STEPHENS, in another 630 cities in 100 countries as well,” said Prof. Dr. Jens Poll, partner at RöverBrönner. RBS will be run by a four-person board in the future. In Berlin, Hamburg and Frankfurt and following the the merger, the company will already become the alternative to the four international leading audit firms, the so-called ‘Big Four’.
The joint number of RBS employees amounts to around 700, including around 210 professionals and around 40 partners. The merged company is making a considerable leap among the Top 10 in Germany in the Lünendonk Ranking of the leading audit and tax consultancy companies.
"With the expansion of the locations Cologne and Munich as well as the planned establishment of a branch in Stuttgart, we want to continue to grow and rapidly improve our position among the largest audit firms after the ‘Big Four’,” said Hendrik Jung, partner at SUSAT, who also informed that two associates at Susat in Munich will go their own ways over the course of the merger. Jung believes the company to be best-equipped for the upcoming consolidation on the market for accounting and tax consultancy: “The ‘Big Four’ often have a hard time with exactly the large medium-sized companies. Because of their company culture, they are often not able to meet the demands of medium-sized enterprises. We by contrast can and want to offer this.”
RBS also expects a further consolidation of the audit and consultant market due to the regulation plans of the European Union. EU Commissioner Michel Barnier presented a consultation paper in fall 2010, the EU Green Paper on the reform of the Statutory Auditor. He proposes to break up the audit market dominated by the four internationally operating audit firms since this concentration “endangers the system”. According to Barnier, alternatives to the ‘Big Four’ will be strengthened in the future. “These regulation plans will speed up the consolidation on the market of auditors and tax consultants in Germany as well,” said Dr. Jörg Schlüter, partner at SUSAT. “Medium-sized firms which have a critical size and can show sustainable growth will form the counterweight to the ‘Big Four’ desired by the EU. We will be part of that after the merger.”
“We are competing with the competition not only for clients, but also on the market for highly qualified employees,” noted Helmut Schuhmann, partner at RöverBrönner. “Applicants appreciate the opportunity to quickly assume responsibility, as well as clearly structured development paths and the opportunity for a so-called ‘fast track’ – they will get all of this at RBS.” Following the merger, in addition to clients and potential customers, the company will also call more attention to itself among universities and their graduates.
Background: RBS RoeverBroennerSusat
RBS will be formed in 2011 from the merger of RöverBrönner and SUSAT, two of Germany’s leading medium-sized audit and tax consultancy firms. With over 75 million euros annually in fee earnings and eight locations in Germany, RBS is among the leading audit firms after the ‘Big Four’. With the areas of audit, tax, legal, management and IT consulting as well as corporate finance, the company offers an integrated approach to consulting and can serve clients in 630 cities in 100 countries via its membership in the international network MOORE STEPHENS. RBS has around 700 employees, including around 2010 professionals and around 40 partners. The core target group is large medium-sized companies as well as family businesses and private corporatations. RBS‘s special industry focuses are in the areas of real estate, banks and insurance as well as health care and trade.
Contact:
Ralf Beke-Bramkamp
plan B communication
Mobile: +49 163 76 88 88 1
Prof. Dr. Jens Poll
RöverBrönner
Hendrik Jung
SUSAT