Details: RSM’s German member firm, RSM GmbH, is acquiring HTG Wirtschaftsprüfung GmbH, effective Jan. 1, 2022, expanding its Berlin office.
As part of the deal, five partners of the HTG corporate group, along with 85 employees from its Berlin office, will join RSM. Meanwhile, 20 employees from the HTG office in Halle will serve the Leipzig business region.
The combination with HTG will expand RSM’s international restructuring and liquidator services, along with its audit, tax and consulting lines. Financial terms were not disclosed. The acquisition is the latest in a series of mergers by RSM GmbH across Germany.
“By making the strategic acquisition of HTG, we are driving our firm forwards by adding 110 critical thinkers with outstanding attributes,” said Santosh Varughese, a Managing Partner of RSM in Germany, in a statement. “Expanding the RSM Berlin office and acquiring an office in Halle substantially increases our size and reach across the region.
Our new HTG colleagues bring significant expertise in advising companies going through times of crisis. The fact that HTG has supported liquidators in over 10,000 court proceedings in the last 20 years, from consumer insolvencies to corporate group insolvencies, and across tax, accounting and business management, speaks for itself.”
HTG’s leaders hope to leverage the expanded services from RSM in Germany. “Right at the beginning of our discussions, we perceived the dynamism, the mindset and professionalism of RSM in Germany and worldwide to be very positive,” said
HTG managing partners Valentin Schmid and Stephanie Bschorr in a statement. “That is why we are now very proud to be a part of RSM. We are happy to be bringing our expertise in restructuring consulting and also to be able to access the resources of RSM GmbH throughout Germany. RSM also offers us opportunities to further expand the range of our audit and international tax law services.”
The deal will enable the RSM network to grow its presence in Germany. “Berlin is strategically an important location for our global clients,” said RSM International CEO Jean Stephens in a statement. “As one of the centres of European trade, it boasts a proud legacy of serving a strong middle market. I welcome our new partners and employees in Berlin and Halle to the RSM family and network. With them, they bring experience and expertise which will be of great benefit to our clients in the middle market. I look forward to seeing what our newly expanded team can achieve together as they contribute to the continued success of Germany’s middle-market businesses.”
RSM GmbH has 18 offices with approximately 700 employees, including more than 200 auditors, tax advisors and lawyers. The firm earned 90 million euros ($102 million) in 2020. The RSM Network has more than 48,000 employees in 820 offices in over 120 countries.