BDO acquires Concunia and strengthens its market position in the public sector
23 August 2021
- CEO Dr Holger Otte: "Even more clout in future".
- Represented at 28 locations nationwide with the new office in Münster
- Above-average growth compared to the rest of the sector
BDO AG Wirtschaftsprüfungsgesellschaft (BDO) is underpinning its strong position in the market with an acquisition in North Rhine-Westphalia. With effect from 1 October 2021, it has acquired a one hundred percent share in Concunia GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft Münster ("Concunia"). The parties have agreed not to disclose the purchase price. With this acquisition and the resulting newly created BDO Concunia GmbH, the company is supporting the successful growth course of recent years, which is based on both organic and inorganic growth. At the same time, this step significantly strengthens BDO's notable market position in the public sector.
"We are pleased that we will be able to have even more impact in the future together with more than 50 new colleagues. For many years, BDO has not only stood for quality in auditing and consulting, but also an excellent name, especially in the public sector - and this will continue," CEO Dr. Holger Otte is pleased to say. With the new office in Münster, BDO will be represented at 28 locations nationwide.
For Concunia, too, there are numerous good reasons to proceed united in the future: "The merger provides us with a great opportunity to offer our clients as well as the Münster region a more comprehensive range of advisory services," says Concunia Managing Director Andreas Jürgens. "In addition, it enables us to make our expertise in the area of public companies available throughout Germany. In doing so, we complement and expand BDO's existing public market sector and look forward to working with our new colleagues nationwide."
BDO is further expanding its core audit segment with this move, following recent acquisitions (BDO DPI AG Leer, 2018 and BDO Daiber Stuttgart, 2019). With the founding of BDO Concunia GmbH, the Hamburg-based company has been strengthened by twelve professionals, three of whom are new partners at BDO and at the same time managing directors of the new GmbH: Andreas Jürgens (WP/StB), Christian Trost (StB) and Henning Overkamp (RA/StB). With this step, the Concunia company headquarters in Münster will become an office in the Rhine/Ruhr region at BDO from the beginning of October.
BDO has shown a strong growth course for years. In the 2019/2020 reporting year, the German BDO Group achieved a year-on-year increase in revenue of 8.6 per cent to €285 million (€262 million) - above-average growth compared to the industry. This reflects the strong demand for BDO expertise despite negative pandemic influences on the economy. In the recent past, BDO had been able to win well-known companies in tenders in the audit of financial statements. In addition to the Dax group SAP, these include, for example, the food group Theo Müller, in the financial sector Citigroup Global Markets Europe AG and MLP as well as in consulting the vaccine manufacturer BionTech.