VGD Hungary and WTS Klient will combine their strengths through
establishing an even more powerful marketplayer

Dear Clients and Partners,

We are pleased to inform you that the owners of the two renown players in the Hungarian accounting and tax consulting market, WTS Klient Group and VGD Hungary, have decided to serve their clients in the future by combining their resources.

The owners of the two companies confirmed their intention with their signatures on 19 July 2024, and the agreement is expected to be finalized in the beginning of autumn 2024, after the necessary official authorisations were obtained. The legal merger of the companies is planned to take place from 1 January 2025, so VGD Hungary Tanácsadó Kft. will be merged into WTS Klient Kft. on this date.

Over the past 20 years, WTS Klient and VGD Hungary have been among Hungary's leading companies providing complex tax and financial consultancy services based on continuous organic and anorganic growth. By combining the two companies, WTS Klient - a member of WTS Global, one of the world's leading tax and financial advisory networks - will become the largest provider of accounting and tax advisory services in Hungary after the Big4 and BDO.

“We are very pleased to be able to further strengthen our market position by the merger of WTS Klient and VGD Hungary. As an even stronger player in the Hungarian market, we will be able to lead the rapid technological development in our industry and play a leading role in the consolidation of the Hungarian accounting and tax advisory market. Over the past 20-25 years, the two companies have developed head-to-head, always in a friendly relationship, and it is time to combine the strengths of our highly qualified staff to serve more than a thousand clients together, offering a full range of consultancy activities”- said Zoltán Lambert, Managing Director & Partner of WTS Klient.

“VGD Hungary's dynamic, dedicated team of experts has always placed great emphasis on helping its clients in the international accounting, tax consulting and auditing market to grow in the long term, through effective and efficient solutions, in a supportive partnership. We will be able to fulfill this mission on an even broader basis with the merger, through which, and taking into account the organic development in 2024, we will create a powerful company with 350 employees and a turnover of more than HUF 6 billion” - said Gyöngyi Ferencz, the Founding Partner of VGD Hungary Kft., who will continue to work as a partner at the new entity heading up one of the business divisions.

VGD Hungary and WTS Klient share the same professional and client support values, so the previously formulated claims of the two groups of companies, namely “Beyond partnership” and “People you can rely on” will be even further strengthened through the joint professional value creation in connection with the merger.

The same company culture also guarantees that all VGD employees can continue to work in a reliable and lovable workplace, where they will find opportunities for further development and, thanks to this big dimension leap, achieve more and more future professional success.

With the joint decision, the professional expertise of the two groups of companies, in domestic as well as in cross-border transactions, will be multiplied, supporting the businesses of our current and future clients as a member of the international network of WTS.

The transaction does not affect our work processes, please contact your usual VGD contact partner.

The full press release is available below.

Budapest, 29 July, 2024.

Zoltán Lambert, Managing Director & Partner of WTS Klient and Gyöngyi Ferencz, Founding Partner of VGD Hungary.

Photo by Ákos Kaiser

If you have any questions about the transaction, please do not hesitate to contact us.

In connection with this transaction and effective 1 January 2025, VGD Hungary Audit Kft. will merge into HLB Magyarország Kft., which is also part of the Group and the Hungarian member of HLB International, a global network of independent auditing and advisory firms listed 8th in international rankings.  As a result we will provide our audit clients as one of the top-ranked audit service providers in the Hungarian market after the Big4 and BDO.

The press release and our newsletter on the merger of our audit firms will also be shared with you on our website.