FORVIS pens international deal

FORVIS LLP, which formed through the merger last year of Springfield-based BKD LLP and Charlotte, North Carolina-based Dixon Hughes Goodman LLP, has announced a new multifaceted, global partnership.

FORVIS and Paris, France-based international audit, tax and advisory firm Mazars Group are slated to create a new global network called Forvis Mazars on June 1, 2024, according to a news release. On that date, Mazars' U.S. operation will be acquired by FORVIS, according to FORVIS spokesperson Mike Brothers, noting the companies are not disclosing the financial terms of the agreement.

Forvis Mazars would have a combined $5 billion in revenue and rank as a top-10 global network by the International Accounting Bulletin, according to the release.

The deal does not represent a merger, Brothers said, as both companies would maintain their current ownership structures. He said FORVIS and Mazars Group would remain distinct legal entities.

“A two-firm network, operating under a single global brand, quickly advances our firms’ shared strategies," FORVIS CEO Tom Watson said in the release. "It's an opportunity to better serve our clients, especially those with international needs, and support our people on a path of continued growth.

"Our organizations know each other well, with a strong history of collaboration and very similar cultures of putting our people and clients first."

FORVIS provided a global list from the IAB that ranks Mazars No. 14 among accounting firms worldwide, with annual fee income of roughly $2.5 billion. FORVIS this year ranked No. 8 on Inside Public Accounting's annual list of the nation's 500 largest accounting firms, with net revenue of roughly $1.7 billion. The company in 2022 cracked the top 10 following BKD's merger with DHG.