Consolidation amongst the mid-tier has been a hot prospect post recession and this year has seen some action. First it was BDO and PKF announcing their nuptials, now it is Baker Tilly taking over RSM Tenon, each of them a Top 10 firm. But there the similarity ends. The first two firms had a long gestation period to plan how, when and what would be done, with a strategy to match. In the current situation, however, it appears an opportunistic punt by Baker Tilly and the objectives and likely combination is unclear. Taking advantage of a struggling firm is one thing, translating this into a business with a clear plan where all the resources are organised and divestment of people (and offices) is put in place to eliminate duplication, is another. Whither therefore the newly enlarged Baker Tilly?
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