BDO acquires Grupo Camacho and doubles Costa Rican footprint

23 June 2017

BDO has more than doubled its presence in Costa Rica through the acquisition of local professional services firm Grupo Camacho. By adding the accountancy and consultancy to its Costa Rican operation, BDO will strengthen its overall portfolio and augment its ranks with 70 professionals – including one partner and two directors.

Grupo Camacho, based out of Costa Rican capital San José, is a professional services firm that provides a range of services to its clients across the region, including public sector consultancy, corporate finance, and tax services. The firm employs more than 70 professionals.

BDO Costa Rica is also headquartered in San José, and is the local member firm of BDO International – a network of more than 1,400 offices across 154 countries.

The addition of Grupo Camacho's capabilities to the firm strengthens and diversifies its Costa Rican services portfolio, adding specialised service offerings such as transfer pricing, international tax, corporate finance, and consultancy in the public sector.

BDO acquires Grupo Camacho, doubles Costa Rican footprint

As part of the deal, about 70 professionals, including a partner and two directors, will join BDO’s Costa Rican office – increasing the firm's size to over 100 staff. The deal makes BDO one of the largest professional services firms in the country.

“Greatly supported by the BDO network, our merger with this well-recognised firm will grow our business further and strengthen our position in the local market,” remarked Alfonso Bustamante, Managing Partner of BDO Panama and BDO Costa Rica. “It is our vision to continue to build strong business relationships and to provide added value to our clients.”

Carlos Camacho, who joins BDO as a Tax Partner, added, “I am confident that leveraging the BDO name and brand in the Costa Rican market will enable us to develop a formidable tax and advisory business. This represents an exciting new chapter in our firm's growth and we are all looking forward to working with our BDO colleagues worldwide.”

BDO adds professional services firm in Bolivia to network

11 February 2019

Global professional services firm BDO has expanded its footprint in Latin America with the addition of a new member firm in Bolivia. 

The firm, trading as KPI Auditores y Consultores, was founded in 2010 and is managed by a team of seven partners, with managing partner Marcelo Berthin at the helm. Six of the new firm’s seven partners have a background at BDO, while the group also bring experience at tier-one accounting and consulting firms including EY, PKF and PwC to its new parent. KPI, previously affiliated with rival network Antea, which it joined in 2014, has been rebranded as BDO Bolivia. 

“BDO Bolivia’s goal is to deliver outstanding audit, financial advisory, tax, consulting, and digital services to clients,” said Berthin, who has been leading the firm since 2014, after serving a large bank, the United States Agency for International Development (USAID; a US agency that battles extreme global poverty) and EY, where he spent a decade in the firm’s audit department. While the firm works for clients across a range of sectors, its focus lies on clients in manufacturing, mining, not-for-profit, investment services and agriculture.

BDO adds professional services firm in Bolivia to network

According to Berthin, formerly KPI Auditores y Consultores will be able to benefit from BDO’s global reach – the world’s fifth largest accounting group has over 80,000 employees in 160+ countries – and the cross-border work which flows out of the network. “The recent increase in business enquiries from the UK, Germany, Panama, Chile and Brazil that we’ve received through BDO’s global organisation confirm this and points to further expansion for BDO in Bolivia.”

He added that the local teams based in La Paz (headquarter) and Santa Cruz will also be able to tap into BDO’s deep industry and functional expertise.

Commenting on the expansion in Bolivia, Albert Lopez, BDO’s Regional CEO for the Americas, said: “I am very pleased to welcome a leading firm in Bolivia to BDO. With significant experience in Bolivia, servicing national and international companies and institutions, the team have an established reputation that will launch BDO onto new paths of growth in Bolivia. The new firm’s ability to provide integrated solutions to its clients in the country will, when combined with BDO’s global reach, see business coming in from the wider Latin American region and beyond.”

Across Latin America, BDO has more than 5,100 professionals working from 63 offices in 23 countries. The firm’s largest offices are located in economic hotspots such as Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru and Uruguay. 

Late last year, professional services firm Andersen Global touched in Bolivia with the addition of Tufiño Villegas to its network. The tax and legal advisory was founded in 1995 and has offices in capital city La Paz, Santa Cruz and Cochabamba.