Farrell Grant Sparks Merges With Grant Thornton

05 Aug 2015 | 08.41 am

Farrell Grant Sparks Merges With Grant Thornton

Grant Thornton narrows gap on EY

05 Aug 2015 | 08.41 am

Grant Thornton and RSM Farrell Grant Sparks have agreed to merge, consolidating the combined entity’s position as number five in the Irish accountancy market.

The enlarged Audit, Tax and Advisory practice will have in excess of 750 staff and 51 partners, with offices in Dublin, Cork, Galway, Limerick, Belfast, Langford and Kildare. All offices will trade as Grant Thornton and will be led by current Grant Thornton managing partner, Paul McCann.

According to McCann (pictured): “RSM Farrell Grant Sparks is a firm that fits well with the overall culture of Grant Thornton. The addition of its accounting expertise, professional experience and diverse clients will see substantial opportunities for Grant Thornton’s growth and should result in significant market synergies.

“This consolidation will serve to increase competition within the larger Irish firms, particularly in the areas of audit and taxation, as well as the growing market for corporate finance advisory services.”

Jim Mulqueen, Managing Partner with RSM Farrell Grant Sparks, commented: “We see this as a great opportunity to work with like-minded partners and the skill sets within our respective firms complement each other very well. Our clients will have access to an even greater range and depth of experience and skills.”

In 2013, the insolvency and restructuring arm of RSM Farrell Grant Sparks split off from the practice to form the Ireland operation of Duff & Phelps.

Prior to that split, RSM Farrell Grant Sparks had 2013/14 fee income of €32.5m, ranking ther practice at number seven in the Irish market, compared with €101.8m for Grant Thornton. EY, ranked number four in Ireland, had fee income of €166m in 2013/14.

Closure of the merger is subject to approval from the Competition and Consumer Protection Commission.

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