Acquisition of Accon avm by Flynth

Flynth Holding N.V. (“Flynth”) and accon avm Groep B.V. (“Accon avm”) have reached agreement on the acquisition of Accon avm by Flynth. Constructive and exclusive negotiations and the related due diligence began at the end of last December. These are now complete.

The parties have been in talks and negotiations since November 2021. In addition, Accon avm enabled Flynth to carry out a due diligence investigation with the help of external advisers. This led to the signing of a letter of intent between Flynth and Accon avm on 24 December 2021, as a result of which further exclusive negotiations and additional due diligence took place. The due diligence by Flynth has been completed. The parties have reached a conditional agreement on the acquisition of the shares of Accon avm by Flynth. The acquisition is supported by the Works Council of Flynth and the Works Council of Accon avm.

The transfer of Accon avm’s shares is subject to the approval of the Netherlands Authority for Consumers & Markets (ACM). The proposed transaction is expected to be effected (or completed) in the first half of Q2 2022.

The proposed acquisition will create an advisory and accountancy organisation of approximately 2,400 employees with offices and branches throughout the Netherlands. Flynth and Accon avm are both among the top 10 Dutch accountancy firms. Both organisations are strong in consultancy and accountancy in the small and medium-sized enterprise sector.

The announced transaction fits with Flynth’s strategy and ambitions. Flynth wishes to further expand its current broad range of services in the areas of accountancy, audit & assurance, tax and advice in order to remain an expert and trusted sparring partner with local knowledge for entrepreneurs now and in the future. The acquisition will further increase the significance of the organisation in specific sectors. Finally, economies of scale will create efficiency benefits that will be reflected in the service. In its long-term strategy, Flynth is focusing on further development and innovation with high-quality data- and knowledge-driven services. Besides more added value for clients, this presents opportunities for employees and specifically for starters in the labour market with different levels of knowledge and backgrounds to use their talents and to continue to develop.

Bas Hidding, Chairman of the Executive Board of Flynth: “A shared future offers a sound and sustainable perspective for our customers and employees. From a larger and broader customer base, we can find answers to the issues of the future together. Digitalisation is a theme here. Client service will continue during the integration as usual. Clients can rely on the same services, familiar processes and faces.”

Theo de Vries, chair of the board of Accon avm: “We, too, look forward to a shared future with confidence. Joining forces with Flynth is the best move for Accon avm. In terms of culture and mentality, there are many similarities; we share historical roots. We will now work together towards a smooth integration.”

About Flynth
Flynth encourages entrepreneurs to get the most out of their business. We provide them with the right figures at an early stage and give them the best advice for the future. Flynth operates nationally and is the Netherlands’ largest adviser and accountant for small and medium-sized businesses. Our in-depth industry knowledge leads to innovative insights and practical perspective. Flynth is there for the entrepreneur and their company in all the stages of their lives.

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