For BDO this move follows the recent acquisitions of Jersey consultancy businesses Greenlight CI and Sator Regulatory Consulting Limited in 2016.
Matthew Corbin, CEO of BDO in Jersey, said: “This acquisition consolidates two leading businesses in their respective fields and creates a unified firm providing strategy, consulting, digital, technology and managed services.
“The acquisition of C5 is strategic for BDO in Jersey as we have developed our range of services from traditional accountancy to include strategic risk, change and regulatory advisory. Our clients are competing in an increasingly complex business environment that is dominated by fast-paced technological, fiscal and regulatory change. Extending our professional services capabilities in the area of technology, which sits so firmly at the top of the boardroom agenda, ensures that we continue to align our services to the needs of our clients.
“Clients of BDO will gain access to a huge pool of technological skills and talent ensuring that technology underpins everything we do, while clients of C5 will benefit from working with a major international brand and a truly global organisation.”
The acquisition sees the BDO brand grow to employ over 350 people across the Channel Islands.
Mr Corbin continued: “C5 has an inspirational management group leading a first-class team of technologists and business professionals, who we already know from working on shared client relationships. C5 attracts, trains and develops the best talent and works hard to support some of the most innovative and forward-thinking businesses operating in the Channel Islands and globally.
“The skills and experience within C5 will make an invaluable addition to our business, enabling us to fulfil our primary mandate to assist our clients manage risk and seize opportunity by providing a range of services that evolve in-step with market and technological developments.”
Rob Leader, Group Managing Direcotr of C5, commented: “We are absolutely delighted that C5 have joined BDO. BDO is a fantastic fit for C5, with skills and expertise in complimentary areas and an impressive global presence. We have worked alongside BDO on projects in the past and we know that our businesses collaborate and work well together. This new partnership will provide our staff with further opportunities to develop, and our clients with access to a wider range of high quality services as we continue to live up to our promise of ‘changing the way the Channel Islands use technology for positive impact’.”
The acquisition is being supported by Government-funded development agency and industry association, Digital Jersey. Tony Moretta, CEO of Digital Jersey said: “This deal will support our drive to become a digital centre of excellence and support inward investment and the growth of local talent in this important sector. This is a strategically important acquisition of a business that provides critically important IT services to support the growth and development of the local digital economy. We are delighted to see C5 continuing to grow under local ownership.”
Trond-Morten Lindberg, CEO EMEA at BDO International, commented: “BDO has an enviable position and reputation in the Channel Islands as a leading multi-disciplinary firm that delivers exceptional client service.
“Globally, BDO has been on a consolidation journey for some time with our expansion efforts focussing on business-critical players such as C5 Alliance. The acquisition of C5 is therefore another important milestone in the development of BDO, and fits firmly with our objective to help to accelerate the digital transformation of our clients.
“BDO is quickly building its reputation as a digital-first organisation, using data to create insight and value for our clients. Our objective is to add real value for our clients, in developing new solutions in an increasingly complex business world. I see the acquisition of C5 as benefiting BDO’s clients both in the Channel Islands and across the world.”
NOTE TO EDITORS
Service provision within the international BDO network of independent member firms (‘the BDO network’) is coordinated by Brussels Worldwide Services BVBA, a limited liability company incorporated in Belgium.
Each of BDO International Limited (the governing entity of the BDO network), Brussels Worldwide Services BVBA and the member firms is a separate legal entity and has no liability for another such entity’s acts or omissions. Nothing in the arrangements or rules of the BDO network shall constitute or imply an agency relationship or a partnership between BDO International Limited, Brussels Worldwide Services BVBA and/or the member firms of the BDO network.
BDO is the brand name for the BDO network and for each of the BDO member firms.
BDO Group Limited is locally owned and managed and is a member of BDO International, the world’s fifth largest accountancy and advisory services network. The BDO global network has recently reported record worldwide revenues in their year to 30 September 2017, exceeding $8 billion for the first time with an office network now spanning 162 countries with 73,854 people working out of 1,500 offices worldwide.
BDO in the Channel Islands
BDO is represented across the Channel Islands through two independent leading firms, working closely together and collectively employing over 350 people in the Islands across four service lines: Audit & Assurance, Tax, Advisory, and Business Services & Outsourcing.
BDO Limited is the Guernsey member firm of the BDO Network and is a wholly owned subsidiary of BDO LLP, the UK member firm of the BDO Network. It is under separate legal ownership to BDO Group Limited.
BDO Group Limited is the Jersey member firm of the BDO Network, and is the company that is acquiring C5 Alliance Group Limited.
Julien Morel, Direct Input
Tel: + 44 (0)1534 735253