Baker Tilly Roelfs merges with TPW Group

|  News (engl)

Strategic merger will ensure broader range of consultancy services and development of new market segments

Düsseldorf/Hamburg, May 5, 2015. – Today, Baker Tilly Roelfs and TPW Group announced to merge. This strategic merger is a logical expansion of the existing consultancy and service offerings – in terms of content and geographical location – for both Baker Tilly Roelfs and TPW Todt & Partner GmbH & Co. KG, one of the largest partner-managed interdisciplinary auditing companies in Hamburg. With this step, TPW Group not only acquires a nationwide presence at twelve Baker Tilly Roelfs’ locations throughout Germany, but it will also be integrated into the global Baker Tilly International network. Thus, the company will gain access to 154 partner firms with more than 27,000 employees in 133 countries. Baker Tilly Roelfs will expand its presence in Hamburg and northern Germany significantly and, thus, continue to pursue its strategy of playing a leading role, both qualitatively and quantitatively, in all principal centers of commerce and industry in Germany. The merger implicates that 20 TPW partners and 250 employees will join Baker Tilly Roelfs in Hamburg. Consequently, a staff of about 1,050 will be posting a total annual sales revenue of almost €135 million in Germany. The merger is due to be completed in the course of the next few weeks, once the implementation agreements have been finalized. After a certain transition period the new company will operating under the Baker Tilly Roelfs name in the future.

The range of services provided by TPW comprises auditing, tax consulting, legal advice and financial services. Traditionally, a strong focus has been placed on the maritime sector. During the past few years the Group has also been developing and expanding its legal and tax consultancy services in the real estate sector. TPW has developed especially special consulting skills in the area of the European AIFM-directive and the correspondent German Capital Investment Code (KAGB). In the area of audit and advisory services regarding alternative investment assets - in particular investments in various real  assets – TPW belongs to the leading firms in Germany. TPW also accompanied a substantial part of the market's closed Alternative Investment Funds in the area of regulatory approval. Commercial and tax law consulting is provided by the auditing and tax company TPW Law Rechtsanwaltsgesellschaft mbH. Its clients are mainly SMEs and there has been steady growth within the segment over the past few years.

As Ralf Gröning, a member of Baker Tilly Roelfs' two-person Management Board, explains: "For both Baker Tilly Roelfs and TPW this strategic merger will bring numerous advantages, from which particularly our clients will benefit. On the one hand, our consulting sectors complement each other ideally. For example, TPW's major strength – insolvency consulting and management – fits in extremely well with our primary focus on restructuring, to name just one area in which wide-ranging synergetic effects will come into play. On the other hand, the merger also offers clear geographical advantages: TPW is entering into a long-established corporate environment with twelve branches located throughout Germany. And importantly, thanks to our global network TPW is gaining access to the world's leading maritime cities. At the same time, Baker Tilly Roelfs will be in a position to immediately expand its presence in Hamburg and northern Germany.” According to Gröning: "Altogether, we will be meeting market requirements even more effectively with integrated solutions. We will have a personal presence at local level as well as a global presence through our network– whether we are involved in auditing consulting, complex tax consulting, process optimization, or dealings with private clients."

With this step, the two companies will create a broadly based platform for their market presence and consulting services in Hamburg and the north of Germany. Baker Tilly Roelfs and TPW are both committed to the same high standards of quality and to the declared aim of developing optimal solutions for their clients from a single source and based on interdisciplinary collaboration.

A leading role, both qualitatively and quantitatively, in all in all the principal centers of commerce and industry in Germany
Last year Baker Tilly Roelfs took over the Karl Berg GmbH auditing firm and also the Business & Finance Consulting Services GmbH (BFCS) consulting company in Düsseldorf, successfully integrating them – along with Dr. Peter H. Eggers and his team from the RBS RoeverBroennerSusat audit and tax consulting firm in Berlin – into the existing corporate structures and consulting teams. Wolfgang Richter, the other member of Baker Tilly Roelfs' two-person Management Board, adds: "By merging with TPW we are pursuing our strategy of playing a leading role, both qualitatively and quantitatively, in all the principal centers of business and industry in Germany. To achieve this, we will continue to focus on both external growth and the ongoing development of our own workforce and our areas of business. We will also continue to strengthen our regional base and at the same time add to our range of services in line with market requirements. With hindsight, it can be said that it was the launch of our new, powerful 'Baker Tilly Roelfs' brand which triggered this merger. The firm's very modern and highly professional external image particularly underlines our international focus and has also boosted our attractiveness in the marketplace substantially."

Access to major shipping cities worldwide
Together with the international Baker Tilly network partners, TPW's maritime  experts will have access to important markets, above all those of China, Hong Kong, Singapore and all the Mediterranean countries. As TPW's managing partner Roger Hönig points out: "As a result of the merger with Baker Tilly Roelfs, we are creating a broad platform on which we can continue to achieve long-term growth. For our clients this step will mean a much broader range of services, both, in terms of content and geographical location. Moreover, we have established a basis from which we can open up completely new markets in Germany, in the rest of Europe, and overseas."

TPW Business and Fiscal Law Consulting
The ten lawyers, some of whom are also tax advisors, provide their commercial and tax law consulting services through TPW Law Rechtsanwaltsgesellschaft mbH and are serving together with 40 tax experts in all the main fields of civil, commercial and tax law. The company's range of services also includes company law, bankruptcy law, fund concept development, labor law, inheritance law, company succession and the out-of-court settlement of disputes. As a consequence of the merger, Hamburg will become Baker Tilly Roelfs' second largest legal consulting branch in Germany after Munich.

About TPW Todt & Partner GmbH & Co. KG
The TPW Group is one of the largest partner-managed interdisciplinary auditing companies in Hamburg. The range of services provided by TPW comprises auditing, tax consulting and financial services. Legal consulting is supplied by the auditing and tax company TPW Law Rechtsanwaltsgesellschaft mbH. Since 2013 the company has had a joint-venture branch in Cyprus. The firm has a total of 270 employees on its payroll. TPW has by tradition a powerful focus on the maritime sector and in the field of investments in tangible assets of different asset classes.  During the past few years it has also been steadily developing and expanding its activities in the real estate sector. These services include legal and fiscal consulting and the structuring and design of real estate products. TPW also provides consultative services for SMEs in all legal and fiscal matters.

Contact persons for the press

Baker Tilly Roelfs
Frank Schröder
Head of Marketing & Communications
Tel. +49 211 6901-1200
eMail: frank.schroeder@bakertilly.de

TPW
c/o RUECKERCONSULT GmbH
Daniel Sohler
Wallstraße 16, 10179 Berlin
Tel.: +49 (0)30 2844987-44
eMail: sohler@rueckerconsult.de