One of the nation’s leading professional service organizations, BDO USA, LLP is expanding its Texas presence through the acquisition of UHY Advisors’ Texas practice, including offices in Houston and Dallas.
The UHY Texas practice provides a broad range of financial and consulting services to a diversified client base with significant strength in the energy, manufacturing, distribution, professional services, healthcare and real estate industries. The transaction is subject to customary closing conditions and is expected to be completed on or about December 1.
“I look forward to welcoming all of the Texas partners and staff to BDO USA,” said Wayne Berson, CEO of BDO USA. “Our firm has demonstrated steady growth in Texas over the past several years and these new resources will effectively double our practice in this important market. Upon completion of this transaction, we will be the dominant alternative to the Big Four in both the Texas and the national energy markets. These offices established strengths in the energy sector, particularly in upstream and oilfield services, will be an excellent addition to our strong natural resources industry practice.”
“Combined with other additions we have made over the past two years, this transaction continues the expansion of BDO’s footprint into new markets and elevation of our presence in existing locations.”
“Many firms have contacted us over the years to inquire about our prominent energy industry experience and SEC practice in the Texas marketplace,” stated Tony Frabotta, CEO of UHY Advisors, Inc. “As we implement our strategic plan and move forward as a united firm, it made sense to divest our Texas operations and continue our focus on growing as a top middle market services provider,”
“We have enjoyed working with our fellow professionals in Texas over the years, and we wish them the best as they move to BDO. We, at UHY Advisors, will continue to provide extraordinary service to our many clients throughout the country. Our professionals consider themselves to be entrepreneurially focused, something we embrace deeply in our culture, and also why we work so well together with our clients. We are focused on providing mid market core services, expanding capabilities, and expanding our geographical footprint with like-minded dynamic organizations who also carry the same entrepreneurial spirit.”
The acquisition was coordinated by the Koltin Consulting Group, Inc.
“Rare is it that there can be three parties to a transaction and everyone can feel great about things,” said Alan Koltin, CEO of the Koltin Group. “This deal puts UHY squarely in the middle market wheelhouse that they excel at and it puts UHY Texas on a platform to take their specialty areas and overall firm to the next level. For BDO, this deal essentially doubles their size in Texas and makes them a significant powerhouse in the region. The leaders of all three groups did an exceptional job of representing their shareholders and had their associates and clients best interests in mind at all times.”
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