KPMG India on Thursday announced the merger of the transactions and risk consulting businesses of BMR Advisors with itself, inducting a team of 12 partners and 100 professionals from the homegrown tax and corporate advisory firm.
Founded in 2004, BMR has a team of more than 600 professionals offering a range of tax, risk, and mergers and acquisition (M&A) advisory services and has been in talks for a potential sell-off with at least three of the Big Four accounting firms. Mint reported on Tuesday that Deloitte India was close to acquiring BMR Advisors’ corporate tax practice even as its other advisory businesses were being pursued by other leading professional services firms.
Subsequently, Deloitte India announced on Wednesday that it had acquired BMR’s corporate tax practice.
Currently, BMR’s leadership team comprises Bobby Parikh, Gokul Chaudhri, Rajeev Dimri, Rohit Berry and Sanjay Mehta.
“The talented professionals of BMR embody ethos and values similar to ours, aligning naturally with KPMG’s culture. This was a very important consideration for the leaders of both firms," Arun M. Kumar, chairman and chief executive, KPMG India said in a statement announcing the merger.
Rohit Berry, who currently leads the M&A practice at BMR, will join KPMG as deputy head of deal advisory and Vivek Gupta, who currently leads the transaction tax and restructuring vertical at BMR, will head the Tax M&A team at KPMG. Sanjay Mehta, who leads the risk and business advisory practice in BMR, will join as a senior adviser and will support the firm on key strategic initiatives being implemented as part of the new strategy being rolled out at this time, both firms said in a statement.