Top 60 accounting firm Doeren Mayhew has expanded into Tennessee by acquiring Thurman Campbell Group, a full-service accounting firm based in Clarksville, effective March 1.
Financial terms of the deal weren’t disclosed. The acquisition adds 46 team members to Troy, MI-based Doeren Mayhew, including 11 principals, and brings the firm’s headcount to more than 725 employees across 17 offices in the U.S. and abroad. Bob Yates, managing partner of TCG, will take over as Doeren Mayhew’s managing principal responsible for the growth and oversight of the Tennessee region.
“Expanding to Tennessee has been a long-term goal for our firm. Nashville, and the surrounding area, is a fast-growing market characterized by business sectors complementary to our existing hubs,” Doeren Mayhew CEO Chad Anschuetz said in a statement. “TCG is the ideal partner to enter the market with. They have an exceptional reputation and team in the region focused on delivering client-centric solutions. We are excited to welcome the TCG team to the firm and look forward to building more opportunities to attract top talent and better serve our clients in this market and beyond.”
Founded in 1949, TCG has delivered tax, outsourced accounting, litigation, valuation, and business advisory solutions to clients across many industries, with a particular expertise in construction, manufacturing, and health care. In addition to its Clarksville headquarters, the firm also has offices in Dover and Nashville in Tennessee and Hopkinsville and Princeton in Kentucky. The addition of TCG is expected to grow Doeren Mayhew’s construction practice by 10%.
“Doeren Mayhew is a well-respected firm in the business with values and a culture reflective of our own, which makes this an exciting opportunity for our clients and team,” Yates said. “With the resources of a national firm, we are excited to offer our clients an expansive suite of services to meet their evolving needs while preserving the personal relationships integral to our success. We also believe joining forces with Doeren Mayhew will bring value-added training and career advancement opportunities to our employees.”
Doeren Mayhew is among the accounting firms that have received an infusion of capital from a private equity firm, selling a stake last year to Audax Private Equity. The accounting firm said in late August that the investment will allow it to broaden its geographic footprint via continued acquisitions, as well as to enhance its service offerings, technology infrastructure, and overall employee and client experience.
Doeren Mayhew now operates in an alternative practice structure: Doeren Mayhew Assurance will provide attest services as a licensed CPA firm, while Doeren Mayhew Advisors LLC will provide business advisory, tax, and non-attest services. Collectively, these entities and its subsidiaries will continue under the brand name Doeren Mayhew.
Doeren Mayhew has completed 14 acquisitions in the last five years, most recently adding Biggs, Hausserman, Thompson & Dickinson CPAs in Michigan.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
