The accounting firms of Elliott Davis and Decosimo are pleased to announce that the merger between the two firms is complete, effective January 1, 2015. The combined firm, Elliott Davis Decosimo, is one of the top accounting, tax and consulting services firms in the U.S. with total annual revenues of $120 million and more than 800 professionals and specialists in 17 offices across seven states – Alabama, Georgia, North Carolina, Ohio, South Carolina, Tennessee, Virginia – and the Cayman Islands.
The combination of the two firms, which was first announced on October 29, will expand the overall company’s geographic footprint and maximize the breadth and depth of specialized service offerings in a variety of industry verticals, including banking, entertainment, healthcare, investment partnerships, manufacturing and distribution, private equity, real estate and technology and life sciences.
As previously reported, Rick Davis will lead the combined firm. Decosimo Managing Principal Nick Decosimo will serve on the Elliott Davis Decosimo Executive Committee, which is now comprised of representatives from both firms. The combined firm is maintaining all current office locations, and plans to make strategic investments in key practice areas while expanding its professional staff over the coming years.
“The initial integration process between the two firms has gone very well in the weeks following the announcement,” said Davis. “We are well positioned to provide our clients with a broader range of expertise across an expansive geographic footprint. We have come together to create a strong team with a shared vision that will benefit our clients and our people.”
“It was very clear throughout our discussions and initial integration efforts that our firms share common cultures and a commitment to providing superior service and expertise to our clients,” said Decosimo. “The professionals in our various practice areas and clients of both firms have responded positively.”
Elliott Davis Decosimo unveiled an updated website, www.elliottdavis.com, featuring the expanded scope of services, the variety of industries and the geographic footprint of the combined firm.
In addition to expanding niche specialty areas for both firms, the operation of the combined firm will also provide clients with additional depth of experience in core services such as audit, tax, international, litigation support, estate planning, business valuation and transaction advisory.
The track record of growth at both Elliott Davis and Decosimo has been quite strong over recent years. In 2013 alone, revenues for Elliott Davis increased by 14 percent. During 2014, Decosimo experienced an eight-percent revenue growth. Over the past three years, Elliott Davis has posted 24 percent revenue growth and 40 percent growth in employees.
“We have made strategic investments to aggressively grow in our newer markets. In Charlotte, Raleigh and Richmond, we’ve seen double-digit growth over the last few years, and we expect to pursue those same growth goals in the markets Decosimo has served successfully for many years,” said Davis.
“The feedback I have received from people in both firms about the expanded capabilities and the future growth opportunities has been one of the most rewarding parts of this integration process. We are confident that, as Elliott Davis Decosimo, we will continue the tradition of delivering excellent service to our clients, providing a rewarding career environment for our people and making a positive impact in our communities.”
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