BDO USA LLP Announces Acquisition of UHY Advisors Texas Practice

Chicago-based BDO USA LLP (FY13 net revenue of $833 million) has entered into an agreement for a major expansion of its Texas presence through the acquisition of Chicago-based UHY Advisors’ (FY13 net revenue of $192.1 million) Texas practice, including offices in Houston and Dallas, effective Dec. 1.

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, health care and real estate industries. The transaction brings 450 staff, including 36 partners to BDO.  BDO will now have close to 900 staff serving Texas businesses from offices in Austin, Dallas, Fort Worth, Houston and San Antonio.

“I look forward to welcoming all of the Texas partners and staff to 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 4 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,” says Wayne Berson, CEO of BDO USA.

“Many firms have contacted us over the years to inquire about our prominent energy industry experience and SEC practice in the Texas marketplace. 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,” says Tony Frabotta, CEO of UHY Advisors, Inc. “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.”