BDO expands its operations with a new merger

11 July 2017

The company now counts with over 1,500 professionals and 3,600 clients in its portfolio.

BDO growth project reaches now a new phase. The company has just incorporated the operations of Performance, a company with a 27 years history, headquartered in the city of Salvador, State of Bahia. This new merger gives continuity to the expansion process of the company, which is currently one of the Big 5 of the Brazilian audit and consulting sector. BDO maintains operations in the capital of Bahia since 2014.

 

The audit and consulting company now counts with over 1,500 professionals in the country, distributed in 22 offices, and with approximately 3,600 clients in its portfolio - being almost 70 of them listed companies. “Our intention is to increasingly promote our audit division and to increase our participation in segments such as advisory, tax and outsourcing, always preserving our focus on serving the middle market", says the company's CEO Raul Corrêa da Silva.

 

Performance was founded in 1990 through the meeting of executives who came from international audit and consulting networks. Since then, the company has conquered regional clients, of the most diverse industry segments, such as construction, education, energy, transportation, technology and retail. “By joining the main Brazilian audit and consulting company in the middle market, we want to guarantee, mainly to the local industrial pole, the access to new opportunities and a higher level in services rendering”, says the partner José Renato Mendonça.

 

The expansion in Bahia is supported by significant economic indicators. The State GDP is superior to BRL 220 billions. For this year, a 1.9% growth is expected, being superior to other national projections. According to the Social and Economic Studies Superintendence (SEI) of the State of Bahia, a 0.3% GDP increase was registered in the first quarter, in comparison to the last quarter of 2016. 

 

The merger is also strategic to consolidate BDO national operation. The company's revenues went from BRL 40 million, five years ago, to BRL 175 million in 2016. The company's management expects to close 2017 with BRL 220 million. The number of offices went from 13 to 22, covering all the regions of the country.

 

“We are reinforcing our capillarity strategy, with the support of great cognizants of the market in Bahia. We are also getting closer to the local middle market companies, which represent a great share of the regional economy”, emphasizes Keith Farlinger, CEO of Americas for BDO.

 

Expansion history

 

This has been one of the several acquisitions promoted by BDO during the three last years. In December 2015, the company incorporated the main operations of Baker Tilly in Brazil. In 2016, it brought to the network the teams of JD Auditores Independentes, in the city of Manaus, Amazonas and PKS Auditoria e Consultoria, in the city of Vitória, Espírito Santo. This year, the company joined forces with HLV Auditores & Consultores to expand its operations in Rio de Janeiro.

 

BDO evolution - every two years 

 

Year

Revenues

(in millions of R$)

Employees

Offices

2011

40

371

9

2013

91

815

17

2015

152

1,303

19

*2017

220

1,600

23