Largest independent accountancy and audit firm

Vandelanotte and Callens, Pirenne, Theunissen & Co, the two oldest family companies in the accountancy and audit sector, are merging. The audit department for the two firms will be Callens-Vandelanotte, which will also remain a member of Crowe Global. The merger enables Vandelanotte to secure and strengthen its market position as the largest independent accountancy and audit firm.

Vandelanotte’s consolidated revenue for the last financial year was some 48 million euros, a 20% increase on the previous year. The merger with Callens, Pirenne, Theunissen & Co, who themselves recorded revenue of over 10 million euros last year, will establish a group of services anchored in the region. Callens-Vandelanotte is thus expanding further to offer a rare independent alternative in a market that is becoming ever more consolidated.

With the two companies joining forces, Vandelanotte’s workforce grows by 17%. The company already numbered 440 employees in 2021, a twofold increase over eight years. The merger with Callens, Pirenne, Theunissen & Co will bring this number to over 540 later this year.

A perfect match: history, vision, philosophy

Vandelanotte and Callens, Pirenne, Theunissen & Co have very similar philosophies. Both firms are family businesses with long histories. Vandelanotte was established in 1948 by Roger Vandelanotte. Today, Nikolas Vandelanotte represents the third generation of Vandelanottes to lead the family business. Callens, Pirenne, Theunissen & Co was founded in 1938 by Theo Pirenne, who was succeed in 1973 by his son-in-law Boudewijn Callens. Nowadays, Boudewijn Callens and Philip Callens represent the third generation of managing directors. Since 1982, Baudouin Theunissen has been handling the expansion of the French-speaking client base in Brussels and Walloon. Just like Vandelanotte, the company works primarily in the SME market, and is also strongly active in the non-profit, health care and public sectors.

The firms also complement each other well in terms of regionality and languages. The merger will enable the companies to strengthen their local positions, not only in Flanders at the headquarters in Courtrai and Antwerp, but also in the French- and German-speaking regions of Belgium.

“We feel enormously honoured to have Callens, Pirenne, Theunissen & Co merging with our group. We make a perfect match, not just because of our histories, but also thanks to our shared vision and philosophy”, says Nikolas Vandelanotte, CEO of Vandelanotte. “Vandelanotte, just like Callens, Pirenne, Theunissen & Co, is a business for businesses, with a large SME segment in its client portfolio; yet both companies have retained their family values, with an emphasis on personal advice from an independent company. In a market where consolidation is the order of the day, it’s great to see our two family businesses joining forces.”

As part of the merger, Vandelanotte is delighted to welcome Philip Callens as a family partner. Philip is buying into Vandelanotte and enthusiastic about the alliance. “The merger brings together the best of two worlds. There is no doubt that we will be reinforcing each other’s expertise. As we join up with Vandelanotte, we look forward to specialising in the sectors that we serve – ranging from SMEs, international clientele, non-profit organisations and into the public and financial sectors”, says Philip Callens, managing director of Callens, Pirenne, Theunissen & Co.

The merger of Vandelanotte with Callens, Pirenne, Theunissen & Co will be formalised on 1 October. All 80 of the staff at Callens, Pirenne, Theunissen & Co will continue to work for Callens-Vandelanotte.