Two IPA 100 Firms Join Forces

Chicago-based BDO USA (FY12 net revenue of $618 million) expanded its east coast presence through the merger of McLean, Va.-based Argy, Wiltse & Robinson (FY11 net revenue of $50 million) today, the firms announced. The combination will be in place on Nov. 1, 2012.

BDO has 45 offices and more than 400 independent alliance firm locations around the country. As an independent member firm of BDO International Limited, the firm serves multi-national clients through a global network of 1,118 offices in 135 countries. In addition to its McLean headquarters, Argy has offices in Bethesda, Md. and Fort Lauderdale, Fla.

“We are all very excited to be joining BDO USA, which provides us with a national and international platform for serving our clients, while maintaining a practice philosophy very compatible to our own.  BDO’s reputation as a favorable workplace will fit well with our focus on work/life balance and strategy for attracting and retaining the best and brightest professionals,” says Paul Argy, President & CEO of Argy.  “Combining with BDO will enable us to offer our clients a wider array of services, global geographic coverage, extensive industry experience and additional resources.”

Argy is a member of Leading Edge Alliance; a U.S. based international association of independently owned accounting and consulting firms, which allows member firms to be affiliated with more than one association. No word on whether Argy will remain with LEA at this time.

Allan Koltin, CEO of Koltin Consulting Group, consulted with both firms on the merger commented, “Argy Wiltse & Robinson has the distinction of being one of the profession’s fastest growing and most profitable firms. They grew to be one of the 65 largest in the US and were part of a very small and elite group of first generation firms who achieved this distinction. Virtually every larger firm in the country tried to merge with them but no one seemed to be able to answer why it would be better for their people and clients. BDO had the perfect offering at just the right time. Their leadership, culture, as well as depth and resources was just what the Argy firm was looking for. I predict this will be just the tip of the iceberg for BDO in terms of  future mergers they will be doing. Wayne Berson (BDO’s new CEO) was the result of a local firm merger into BDO some 10 years ago and he is the perfect person to talk about the benefits of what firms can receive in a merger with BDO. Paul Argy was one of the most respected and admired CEO’s in the country and built a great group of partners and future leaders around him.”