BDO acquires Grupo Camacho and doubles Costa Rican footprint

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.

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.”