Chicago-based BDO (FY16 net revenue of $1.3 billion) has announced its expansion into southeastern Virginia with the acquisition of McPhillips Roberts & Deans (MRD) (FY16 net revenue of $14.7 million) of Norfolk, Va.
MRD, with 80 staff, including 14 partners, has been ranked a Best of the Best firm for five consecutive years. Founded in 1972, MRD provides a full range of accounting, tax and retirement plan services to a client base of privately held middle market businesses in the Hampton Roads region. The practice is strong in health care, government and construction contractors, real estate, auto dealerships and nonprofits.
MRD has been a member of the BDO Alliance USA since 2010. Combined with BDO’s existing offices in McLean and Richmond, BDO will have more than 400 professionals serving Virginia clients. The combination of BDO and MRD is expected to be completed on Nov. 1.
“This combination provides us with a strong presence in the Hampton Roads region, stretching our geographic footprint to southeastern Virginia, and MRD’s experience in the health care, real estate, nonprofit and government contracting sectors melds nicely with our existing industry strengths,” says Wayne Berson, CEO of BDO USA.
As members of the BDO Alliance USA, MRD has worked alongside BDO partners and staff for many years, says CEO Edward Amorosso, who will serve as the MP for BDO’s Norfolk practice.
“We have a long history of strong relationships with emerging businesses and entrepreneurial individuals in the Hampton Roads community. By combining with BDO we will build on that tradition,” says Amorosso. “Clients will still receive the same close personal attention they have come to expect from our team, but now they will have access to a wider array of solutions, broader industry experience, and the full coverage of BDO’s global network.”