Eshuis Accountants & Adviseurs Merges with HZG To Expand Further in the Netherlands
Member NewsJanuary 5, 2022 - Eshuis Accountants en Adviseurs
We are delighted to announce PrimeGlobal member firm Eshuis Accountants & Adviseurs has acquired HZG Accountants & Adviseurs, and the two firms will be merging from January 1 2022. This merge cements Eshuis' expertise and leadership in the Netherlands, particularly in the area of audit services, and it creates an accountancy and consultancy organization with more than 200 employees, nearly 100 of whom are active in auditing.
HZG is an audit firm in the public sector and so the acquisition of HZG strengthens Eshuis' market position in this service line and makes their firm one of the largest providers of audit services in the Netherlands.
The acquisition also expands Eshuis' reach further in the Northern part of the Netherlands, and particularly in the city of Groningen. The firm believes that this area offers exciting opportunities to extend their business, particularly with the addition of HZG's expertise in audit services. Groningen also has a large university, with many students stuudying Business Economics, Audit and Accounting, Tax, and related subjects, and so this merge also offers a great opportunity to recruit new employees for Eshuis in a very tight labour market in the Netherlands, who will be able to provide new, innovative, and fresh ideas.
With the acquisition of HZG, Eshuis will grow to an expected revenue in 2022 of EUR 23 million and to approximately 210 staff. Their audit and assurance service lines will grow to an expected revenue in 2022 of EUR 11.5 million, which will make them one of the biggest audit firms in the Netherlands. This growth allows them to invest in IT solutions, industry specialisation, and innovative tooling, which puts them in a better position to recruit the best staff members and attract larger clients.
HZG currently specializes in audit in the public sector, but we also see the potential in Groningen to expand to broader services to SMEs. This fits in with Eshuis' full-service vision. In mid-2017, we at Eshuis decided to invest in services to the public sector. We stepped in at the right time, and we have now built up an attractive audit portfolio in both the upper end of the SME sector and in the public sector, spread over the provinces of Overijssel, Gelderland, and Utrecht. In addition to the Northern Netherlands, HZG is also active in the existing market area of Eshuis. We complement each other very well and can reinforce each other because we share the same core values. Thanks to the collaboration, we can now deploy 200 employees for our customers. We are making more impact both in the labor market and for customers. Michel Schaepers, CEO, Eshuis
Following on from the merge, HZG board members Sietse Hofsteenge and Erik Vriesen will join the Eshuis Partners.
The joint organization creates more opportunities for our employees for personal development and growth. Together we can better serve the market and welcome larger and challenging organizations as customers. The management of HZG sees Eshuis as an organization that, despite its scale, fits the culture and individuality of HZG with the same focus on quality and added value for our customers. Sietse Hofsteenge, Director, HZG Accountants & Adviseurs
Eshuis Accountants en Adviseurs
Established 1932, Eshuis Accountants and Consultants has grown into a high quality accountancy and consultancy organisation. We love working with facts and figures. However, over eighty years of experience have taught us that facts and figures are not a goal in and of themselves. What matters is offering insight into your financial, fiscal and organisational performances. This insight gives you the opportunity to achieve your personal ambitions and your organisational strategies. Everything starts with our client’s request. Our teams’ years of experience allow us to get to the bottom of complex issues quickly, to tackle and resolve them. This not only goes for the way we handle the communication with our clients, but also for the way in which we accept our corporate social responsibility.Learn more