KATO Consulting and Foulger Underwood announce merger

KATO Consulting and Foulger Underwood announce merger

Pracitce marriage brokers get married, and become FOULGER UNDERWOODKATO

MARKET CONSULTANCIES in practice development KATO Consulting and Foulger Underwood have completed a merger as they seek to serve a growing number of firms.

The combined practice will trade as FOULGER UNDERWOODKATO, with the merged firm’s team comprising Foulger Underwood managing director, Keith Underwood, KATO co-founder Phil Shohet (pictured) and Foulger Underwood senior consultant, Derek Smith who was formerly managing partner of Mazars Neville Russell.

KATO co-founder Andrew Jenner will be retiring, but remain available on a consultancy basis.

With many Top 50+50 firms posting growth figures below 5% – and some not growing at all – the newly-merged firm expects the typical practice will have to refocus, possibly giving up parts of the business.

Phil Shohet described the deal as a “merger of equals”.

He told Accountancy Age: “We both do similar things and hold similar objectives. There aren’t many doing both consultancy and M&A work, and they of course are closely linked. This deal allows us to glean a great volume of business.

“The profession’s flat at the moment, and there’s going to have to be a degree of specialisation for firms. Small firms will have to better choose their clients and improve strategy in areas like succession planning.”

Keith Underwood added: “By pooling our resources, experience and specialisms we feel we are well placed to address the challenges that practices will face over the next five to ten years.”

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