KPMG Australia has agreed to acquire Ferrier Hodgson to create what the pair say will be one of Australia's largest restructuring and forensic advisory businesses.
The merged business will be led by KPMG Australia national head of restructuring services Matthew Woods and Ferrier Hodgson practice leader James Stewart.
The deal announced on Thursday covers Ferrier Hodgson's offices in Sydney, Melbourne, Brisbane and Perth, with discussions for the Adelaide office underway.
"The rationale for the merger was compelling, with KPMG and Ferrier Hodgon a great fit strategically and culturally," KPMG Australia CEO Gary Wingrove said.
The tie-up will strengthen the level of service KPMG can offer in the restructuring and forensic advisory sphere, Mr Wingrove said.
Mr Stewart said it also gives the team "access to a diverse range of skill sets to better engineer operational turnaround and add a lot more value to clients".
Founded in 1976, Ferrier Hodgson has handled some of Australia's most high profile corporate collapses, including Dick Smith, Quickflix, Jamie's Italian restaurants, Payless Shoes and electronics retailer WOW.
The combined entity will have 27 partners and more than 200 specialists across the country.