Wednesday 11th April 2018
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Wellington insolvency firm Shephard Dunphy has thrown its lot in with BDO, making the accounting firm the country's third-biggest insolvency practice and providing it a ready-made foothold in the capital city.
BDO Wellington acquired Shephard Dunphy for an undisclosed sum, and will add Iain Shephard and Jessica Kellow to its list of partners, it said in a statement. The deal gives BDO 11 accredited insolvency practitioners across the country's four main centres and more members of the Restructuring Insolvency Turnaround Association of New Zealand industry body than any other, it said.
Shephard told BusinessDesk the transaction came together mutually, filling a regional gap for BDO and adding a broader network for the insolvency firm's clients.
"It's good for BDO and fills quite a gap because they didn't have an insolvency team in Wellington," Shephard said.
Shephard Dunphy's team will go across to BDO, with Shephard and Kellow becoming partners of the accounting firm, something he said was a component of the sale price.
According to its website, the insolvency firm accepts about 100 assignments a year.
BDO Wellington managing partner Mark Bewley brought a boutique offering to the wider group and underlined the Wellington office's effort to expand its service range.
"We’re very pleased to be in a position to bring Shephard Dunphy’s significant skills and experience," Bewley said. "Two strong firms coming together is a marker of growth and that is our plan."
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