EQ Accountants of Dundee will join forces with Carters of Glenrothes from 1 April 2015, in a deal which will increase EQ’s fee income from £4m to £6m.

The merged firm, which will use the EQ name, will employ over 100 staff, including 16 partners, from four offices in Dundee, Forfar, Glenrothes and Cupar.

EQ was created through a merger in 2004 and employs 70 staff in Dundee and Forfar, specialising particularly in tax service and planning. Carters can trace its roots back 50 years and is a leading firm in Fife in acting for professional firms, farmers and manufacturing businesses.

David Cameron, managing partner at EQ said: ‘As well as strengthening our depth of expertise and extending our geographic reach in sectors such as agriculture, the merger will also present great opportunities for existing partners and staff, as well as those who we will be seeking to appoint in the weeks and months ahead.’

Stephen Taylor, managing partner at Carters said: ‘The merger is being made from a position of strength, with two very successful practices coming together to create both an exciting and professional accountancy firm which will help our clients meet their business objectives and achieve even greater success.’

There are no redundancies planned as a result of the move, and no monetary value has been given for the merger. 

When the merger is complete the new firm will be ranked around the 70th mark according to the Accountancy Top 75 firms survey. Neither firm is currently in the Top 75.