BDO USA, LLP and UHY Advisors, Inc. Sign an Agreement Regarding Sale Of UHY Texas Practice

BDO USA, LLP, one of the nation’s leading professional service organizations, has entered into an agreement for a major expansion of its Texas presence through the acquisition of UHY Advisors’ Texas practice, including offices in Houston and Dallas. 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, healthcare and real estate industries. This transaction is subject to customary closing conditions and is expected to be completed on or about December 1.

Wayne Berson, BDO USA CEO (Photo Credit: Business Wire)

“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 Four 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," said Wayne Berson, CEO of BDO USA. “Combined with other additions we have made over the past two years, this transaction continues the expansion of BDO's footprint into new markets and elevation of our presence in existing locations.”

"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,” stated Tony Frabotta, CEO of UHY Advisors, Inc.

“We have enjoyed working with our fellow professionals in Texas over the years, and we wish them the best as they move to BDO. We, at UHY Advisors, will continue to provide extraordinary service to our many clients throughout the country. Our professionals consider themselves to be entrepreneurially focused, something we embrace deeply in our culture, and also why we work so well together with our clients. 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.”

About BDO USA

BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through 53 offices and more than 400 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of 1,264 offices in 151 countries.

BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.

About UHY Advisors, Inc.

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY LLP and UHY Advisors, Inc. are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. To learn more visit www.uhy-us.com.

UHY Advisors, Inc. and UHY LLP collectively provide comprehensive audit, attest, tax and business advisory services to a wide range of clients, primarily in the middle market. With offices throughout the midwest, northeast and south, our practice is sought after by middle market entrepreneurial organizations across the US.

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