The merger between Grant Thornton Cape and BDO Inc Cape (including the Cape Town and Port Elizabeth offices), effective on 1 November 2010, uniquely positions Grant Thornton in the Cape region as a leading audit and business advisory firm ready to grow with clients’ changing needs.
This merger brings with it a broader range of expertise and an ability to provide a superior business offering to advise and assist dynamic organisations with any challenges currently being experienced – for example, the audit and financial reporting implications of the new Companies Act.
The new, larger Cape firm is a major step in Grant Thornton South Africa’s strategic growth plan. “Adding BDO Cape’s 207 staff complement and 19 partners and directors is a boon to clients of both firms as it enhances our joint intellectual and technical expertise,” says Leonard Brehm, national chairman of Grant Thornton South Africa. “The combined Grant Thornton South Africa firm, employing 900 staff members and 97 partners and directors, will now have revenues of R400 million.”
The offices will have joint managing partners Ian Scott and Neil Miller with Deryck Woolley and James Salmon as joint senior partners. “Clients will be the clear winners and we are now in an unparalleled position to service the mid-tier, dynamic business markets in the Cape region,” says Ian Scott, joint managing partner of Grant Thornton Cape. “Combining BDO Cape’s strong market position with Grant Thornton’s established name and intellectual property merges the relative strengths of each firm.”
Grant Thornton Cape joint managing partner Neil Miller concurs: “Both practices share a focus on privately held and dynamic businesses – the needs of clients, staff and other stakeholders have guided this process throughout.” This merger is in accordance with Grant Thornton’s strategic international growth plan.
Grant Thornton International member firms now have 500 offices with 30 000 staff in 100 countries and the organisation is growing strongly to enhance reputation and global position. “Grant Thornton continues to build critical mass. We welcome the opportunity to work with our new colleagues and we look forward to giving our clients an unparalleled offering,” Grant Thornton’s Leonard Brehm concludes.
Notes to editors
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About Grant Thornton South Africa
Grant Thornton South Africa is a member firm of Grant Thornton International Ltd (GTIL). Grant Thornton South Africa was founded in 1920 (previously Kessel Feinstein). We are leaders in our chosen market, providing assurance, tax and specialist business advice to dynamic organisations – listed companies, large privately held businesses and private equity backed organisations.
We employ 933 people in South Africa with 100 partners and directors. Grant Thornton has a national presence with offices in Bloemfontein, Cape Town, Durban, George Johannesburg, Nelspruit, Port Elizabeth, Pretoria and Rustenburg. South Africa is a major force in Africa, alongside 20 member firms on the continent. We operate in Algeria, Botswana, Côte d’Ivoire, Egypt, Ethiopia, Gabon, Guinea, Kenya, Libya, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Senegal, Togo, Tunisia, Uganda, Zambia and Zimbabwe and are ideally positioned to facilitate clients’ expansion plans in these countries.
About Grant Thornton International Ltd
Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions.
More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.
Grant Thornton South Africa is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.
Grant Thornton International Ltd. is the fastest growing global accountancy network and has recently been awarded 2013 'Network of the year’ by The International Accounting Bulletin (IAB). The International Accounting Bulletin awards are designed to celebrate accounting achievements over the past year by emphasising the individuals and businesses that have moved the industry forward. To win the ‘Network of the Year’ award, firms had to demonstrate strength across a number of key areas which included evidence of top-level network-wide audit quality, a strengthened position in strategically important markets and a strong industry leadership.