Moss Adams and Hein & Associates To Merge

Two IPA 100 firms, Seattle-based Moss Adams (FY16 net revenue of $527 million) and Denver-based Hein & Associates (FY16 net revenue of $61 million), are planning to become one.

Moss Adams, ranked No. 14 on the 2017 IPA 100 list, announced that the firm has signed a letter of intent to combine with Hein, ranked No. 67, with the deal expected to become effective Nov. 1. Revenues of the combined firm will near $600 million.

The merger of the two firms will bring the total headcount at Moss Adams to nearly 2,900 in 26 locations. Hein will add about 300 new personnel, including 35 partners.

With this move, Moss Adams will expand its geographic reach, with new office locations in Denver and Houston, while also deepening resources in Dallas and Orange County, Calif. Hein also brings a nationally recognized oil and gas practice to the combined firm. This new sector is expected to round out the existing industry portfolio at Moss Adams.

“We’re thrilled to combine with Hein & Associates and solidify our presence in key Western markets,” Chris Schmidt, Moss Adams chairman and CEO, said in a prepared statement. “This is a unique opportunity to bring together two successful, like-minded firms to become the clear middle-market leader in the Western United States.”

Founded in 1977, Hein & Associates serves a number of industries, including energy, manufacturing and distribution, real estate, construction and technology, with offices in Denver, Dallas, Houston and Orange County, Calif.

“This combination presents us with an opportunity to diversify our capabilities and gain access to deeper resources that will help us to better serve our clients,” Hein MP Jim Brendel said in a statement. “It became clear as we learned more about Moss Adams that there’s also a strong cultural fit, which was a critical factor in our decision.”