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Moore DRV wants to accelerate the value enhancement for both clients and employees, strengthen its governance and grow to a top-10 position in the sector. That’s why the firm is bringing in external financing from Waterland Private Equity Investments. Moore DRV also announces that Van Noordenne Accountants is joining its ranks. Van Noordenne, which adds approximately 50 employees, is located in Giessen, Gorinchem, and Hardinxveld.
‘We see many opportunities to further increase our value for entrepreneurs in the real economy and for our people. To achieve this, growth to a top-10 position in the sector is necessary. The foundations for this growth are our culture, core values and quality standards. We want to secure and strengthen these foundations. To make faster, bigger steps, we are choosing to bring in capital and expertise from Waterland Private Equity Investments,’ says Marco Utermark, chairman of the Moore DRV Board of Directors.
Van Noordenne
After the recent integration of Ruitenburg advisors & accountants, Van Noordenne also chooses to join Moore DRV. Wider development opportunities for employees along with the people-oriented culture were the main reasons for Van Noordenne to join Moore DRV. They also aim to grow other practices in both quality and size. Historically, Van Noordenne has placed a strong emphasis on their audit practice.
Strengthening governance
To make the foundation even more robust, the firm is enhancing its governance by appointing a supervisory board, expanding development programmes for employees and continuing to invest in its strong quality framework. Moore DRV is also renewing the partner model to lower the threshold for new entrants and ensure continuity. ‘We believe maintaining the partnership model is essential to remain value-driven and entrepreneurial while preserving our culture,’ explains Utermark. ‘For the future, we are choosing compact offices with a flat organisational structure, where we work with attention to each individual, led by and in collaboration with partners.’
Raising the bar
‘We see that entrepreneurs in the real economy face additional challenges in terms of accountability, such as sustainability, fraud and other risks. Business owners are investing in knowledge and, for example, AI and robotisation themselves, making the demand on us more challenging and interesting. Family businesses want to grow internationally. For us, these developments are hugely interesting, raising the bar for us and providing plenty of development opportunities for our people. That’s why we want to invest more in broader and more specialised services and in staff development opportunities at a more accelerated pace than we have in recent years.’
Growth
Moore DRV grew organically and through affiliations in recent years. Recently, it was announced that Ruitenburg is joining Moore DRV, and today it has been made public that Van Noordenne Accountants is also joining, strengthening the firm’s position in South Holland and expanding into the edges of its working area with offices in places like The Hague and Gorinchem. Similarly, in 2023, the firm expanded in Central and Eastern Brabant with the addition of Trivent. The integration of Rijkse as of 1 January of this year significantly strengthened Moore DRV’s presence in Zeeland.
Following these additions, Moore DRV now employs approximately 1,350 people across 20 offices in North Brabant, Zeeland and South Holland.
Preserving culture and core values
‘Many smaller firms are interested in joining our organisation because they resonate with our vision and understand the importance and necessity of our approach. We aim to grow into a top-10 position in the sector and be a leading firm in North Brabant, Zeeland and South Holland. Growth allows us to spread our investments while remaining competitive in pricing. However, it is especially important in the labour market: all our ambitions depend on having enough well-qualified, enterprising people. Therefore, preserving our culture and core values, as well as offering interesting development opportunities, are absolute prerequisites for growth.’
Value-driven
Utermark continues: ‘We are and remain a value-driven organisation. The partnership model ensures that. We see that interest in this is waning a bit; becoming a partner is no longer the ultimate goal. At the same time, we want to appreciate high engagement and entrepreneurial spirit with ownership. Additionally, an entry model into partnership will become necessary as our organisation grows further, because the high investments we want to make result in too high a barrier to entry. Therefore, external financing is also needed to preserve the partnership model.’
Choosing Waterland
‘Banks find investing in a partnership less attractive due to the goodwill model. Moreover, we were looking for a partner who could provide not only funding but also expertise. In Waterland, we have found an enterprising partner. They focus on family businesses, have a European orientation and have a long-term vision. Waterland has surprised us with its vision of the European accountancy market. They understand where Moore DRV and Moore Global want to go and want to invest not only in the accounting firms in the network but also in entities that can provide new services and in collaboration partners that strengthen our business case. They have already demonstrated this in Belgium, with our colleagues at Moore Belgium, as well as in the United Kingdom, with our colleagues at Moore Kingston Smith. Within the Netherlands we collaborate with Moore MKW’
Moore DRV has applied for approval from the Netherlands Authority for Consumers & Markets to issue shares to Waterland.
