The Accountor Group, the leading company providing financial and payroll
administration services in Finland, will buy a 49% holding in the
Finnish Rödl & Partner Konsu Group, which operates in Russia. The
Accountor Group holds the right to purchase the remaining 51% holding
until spring 2009. The transaction will accelerate the Accountor Group's
aim to become the leading company providing financial and payroll
administration services in the Baltic Sea region by 2008.
The Rödl & Partner Konsu Group, which has expanded
enormously over the past few years, is a consulting firm that
specializes in Russia and provides western companies in St Petersburg
and Moscow with services associated with founding a company, financial
administration, and tax-related and legal matters. The company has a
personnel of 100, about 85% of whom are Russian. The headquarters is in
Lappeenranta and the company also has an office in Helsinki.
The Konsu Group was founded in 1982. It was the first western
company in its field to start business operations in Russia, in 1992.
Its customers in Russia are western companies, most of them coming from
Finland, Germany, the Netherlands and the US. A quarter of the Finnish
companies operating in Russia are Konsu Group customers. In-depth
expertise and the Konsu Group's international businesses were the
reasons why the Accountor Group become interested in the company.
"The Konsu Group is particularly well-suited to the Accountor Group's
business operations. After the transaction we will be able to provide
our present corporate customers with high-quality and compatible
financial and payroll administration services in Russia as well. This
will make both evaluating and expanding business easier on the Russian
market, which has enormous growth potential. The experts at the Konsu
Group understand what a western company needs and are familiar with not
only international legislation but the local networks, which is
extremely important in Russia," says Asko Schrey, CEO of the Accountor Group.
The Rödl & Partner Group, which is a German auditing firm operating
in corporate acquisition worldwide, will sell all of its 25% holding in
the Konsu Group. Pirjo Karhu, the founder, main owner and Managing
Director of the Konsu Group, which was founded in 1982, and her close
associates will sell 24% of the company, which will still leave them a
51% holding in the company. The Accountor Group has a right to purchase
this remaining 51% holding until spring 2009.
"I am very satisfied with this transaction. I believe that the
cooperation with the Accountor Group will give us good opportunities to
carry out our growth strategy. The Accountor Group's aim to become more
international is fundamentally important to us as well. In order to
serve our customers well, we must be able to expand our services into
the Nordic and Baltic Countries. Now we are able to provide services
for the Konsu Group's 300 corporate customers in the whole Baltic Sea
region. The Accountor Group employs almost a thousand experts in financial
and payroll administration services, and the company has focused on
developing the efficiency of their operations. We are glad to become
part of this growing team," says Pirjo Karhu, the Managing Director.
Further information is available from:
the Accountor Group
Asko Schrey, CEO
asko.schrey[a]pretax.net
Tel. +358 40 500 1655
Rödl & Partner Konsu Group
Pirjo Karhu, Managing Director
pirjo.karhu[a]roedlkonsu.com
Tel. +358 400 554 596
