Merger on the Romanian audit, accounting, tax and financial consulting market: Adevaris team and business join Mazars

Global firm Mazars, specialised in audit, accounting, tax and financial advisory services, announced today that the Romanian tax, audit and advisory firm Adevaris, comprising 4 partners and a total of 40 staff members, will join Mazars effective 1 September 2013.

Mazars has more than 13,500 professionals in 71 countries, in addition to correspondents and joint ventures in a further 14 countries. As at 31 August 2012, Mazars’ Group turnover was €1,013 million. The move will increase its revenues in Romania by 50% and reach a total staff of more than 160 people, hence expanding the company’s local business and clients’ portfolio.

The company that merges with Mazars has been active on the Romanian market since 2003 and practiced under the LeitnerLeitner name between 2009 and 2012. To date, Adevaris has mainly focused on serving local subsidiaries of foreign investors from the German-speaking part of Europe.

“We’re delighted to welcome such an exceptional group of professionals into the Mazars family, and are confident that our cultures, values and strategic visions will merge seamlessly,” says Jean-Pierre Vigroux, Managing Partner of Mazars in Romania. “Their business mirrors ours remarkably in many ways, and will strengthen our cross-border offering across the board in outsourcing, tax and audit. Moreover, a significant part of the client base of our firm belongs to the German-speaking business community as the result of the merger with a German practice in 2007. The Adevaris team brings further experience that will allow us to best serve together the needs of these key investors.”

Loïc Wallaert, Member of the Global Executive Committee of the Mazars Group, says the merger has been enthusiastically welcomed and is seen as an important development in the Group’s strategy of combining both organic and external growth, leveraging Mazars capabilities in Romania, but also in Central and Eastern Europe and in German-speaking countries (notably Germany, Austria and Switzerland).

René Schöb and Dino Ebneter, Joint Managing Partners of Adevaris, say that the partners and staff are excited at the prospect of working with the calibre of professionals that Mazars offers: “Our decision to join Mazars was natural, as we think this merger is based on a shared vision and set of values aiming to ensure excellence in serving the interest of all our stakeholders, especially the clients. We trust that by this move our clients will benefit from a wider range of services and from Mazars’ global reach, while keeping our individual and local approach focused on our clients’ needs. By working together, we will further consolidate the offer and the quality of our services”.

Adevaris’ team will merge to the existing team of Mazars in Romania based in Bucharest.

About Mazars:

– At a global level

  • Mazars is an international, integrated and independent organisation specialised in audit, financial advisory, accounting, tax and legal advisory services, offered by over 13,500 professionals in 71 countries on all five continents.
  • For the financial year 2011/2012, the Group reported a turnover of EUR 1013.4 million, representing a 6% growth as compared to the previous period.
  • Pioneer in its commitment to transparency, being the sole audit and consultancy firm to publicly issue an audited annual report, since 2005: http://annualreport.mazars.com/

– At a local level

  • Mazars has been active in Romania since 1995; in April 2007, it merged with RSM Hemmelrath, thus becoming the 6th top company on the Romanian consultancy market.
  • The Bucharest team comprises more than 120 auditors, expert accountants, tax consultants and lawyers, whose expertise covers areas such as audit, tax advisory, outsourcing for accounting and payroll, legal counselling.

About Adevaris:

Adevaris is one of the top-ranked tax and financial advisory firms in Romania, founded in 2009, following a spin-off

from a full service provider, which was active on the Romanian market since 2003. Adevaris offers tailored services

in four key areas of expertise: Domestic and International Tax Law, Audit, Accounting and Payroll Outsourcing,

Financial Advisory. The company’s industry expertise covers various sectors: Consumer Goods & Services, Real

Estate, Automotive, High Technology, Steel, E-Business, Energy, Financial Services, Private Equity, Banking,

Insurance and Leasing.

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