Due to this merger the largest M&A consulting team in Hungary has been created with significant experience and results in the local market. It is also remarkable on an international scale as CFI Hungary became a member of Hungary's largest audit network. The change will also have a significant impact on BDO Hungary’s operations, whereby the company will offer these services within the new framework in the future.
CFI Hungary has joined BDO Hungary in order to further develop the benefits of synergy. The 15-year-old company will also change its name, and from 1st of September 2021, will continue its operations as BDO Magyarország Pénzügyi Tanácsadó Zrt.
BDO Global is an audit network consisting of more than 91,000 employees and partners, and 1,658 offices. The company has produced a total annual turnover of more than $10 billion, which makes BDO a Global market leader in several of the 167 countries in which it operates. BDO Hungary has in excess of 200 employees and generated almost HUF 4 billion in revenue in 2020.
“We have been monitoring the work of CFI Hungary as one of the most important Hungarian M&A and financial advisers for a long time, as they have gained a commendable position in the market. We know the company's partners and team for more than 10 years, and we mutually recognise and respect each other. We are proud that they are joining BDO Hungary on the 1st of September. - said Zoltán Gerendy, partner and managing director of BDO Hungary. “This collaboration is a big step forward, as valuable knowledge is arriving to BDO. From now on, we can serve our customers in a fully integrated way; our corporate financial advisory services have caught up with our audit, tax, legal, IT, and hotel and real estate businesses in all respects. With the newly joined 30-member dedicated team, BDO has everything is in place to become the M&A center of the region.”
Márk Fekete, the recently joined partner added the following: “In my mind, the two companies complement each other's work well. As a member of BDO Hungary, we will be able to serve our existing and new customers on the previously high standard, but in the same time with a stronger professional background. We are confident that by supporting such a strong and efficient international network, we will be even more effective and successful on the market. In addition, of course, we will not abandon the good practice of personal and personalised customer management, and the integration will benefit not only our existing but our future customers as well.”
BDO Hungary has been one of the leading and largest Hungarian-owned audit and consulting groups for more than 30 years. The organisation employs more than 200 people in Hungary, which was able to develop and continuously grow despite the pandemic, thus closing the financial year 2020 with a turnover of nearly HUF 4 billion. BDO's business lines include audit, accounting, payroll, tax, legal, tourism, financial and IT consulting, among others.