Largest Strategic Expansion Enhances Southern Presence and Bolsters Government Services Practice

BDO USA, one of the nation's leading accounting and advisory firms, intends to add more than 1,300 employees, including 30 principals, from HORNE LLP, a top professional services firm serving clients across the country with presence in seven South and Southeastern states, the District of Columbia, and Puerto Rico. The expansion strengthens and grows BDO USA's geographic footprint while substantially enhancing its government services capabilities, focusing on state and local government support. The transaction is expected to close on November 1, 2025, subject to customary regulatory approval and closing conditions.

Founded in 1962, HORNE’s experience and knowledge span government services, healthcare, construction, franchise operations, and financial institutions, with a particular strength in disaster recovery and federal program compliance at the state and local level and in Puerto Rico. HORNE has a proven track record of managing over $126 billion in state and federal funding streams over more than 15 years and has provided significant support to government leaders at all levels as they have set up processes and structures for sustained community improvement during disaster recovery.

"This strategic combination brings together two firms with complementary strengths and shared values," said Wayne Berson, CEO of BDO USA. "Like BDO USA, HORNE has built a culture focused on helping people, clients and communities thrive.” Continued Berson, “We are thrilled to have fueled our largest expansion to date through the advantages created by our employee stock ownership plan. The ESOP has not only supported our growth and investment goals but has also set our culture apart — playing a critical role in our firms coming together.”

BDO USA’s differentiated company culture - alongside a commitment to delivering exceptional service to clients and fostering opportunities for employees across both organizations - was noted by HORNE leadership as a critical factor in their decision to join BDO USA.

"At HORNE, our purpose is to Deliver with Care – care for our team members, our clients and the communities we serve, a philosophy that aligns with BDO USA's commitment of putting people first. BDO’s leadership in creating an ESOP demonstrates their commitment to team members and solidifies the trust that the public has placed in our profession," said Rusty Butcher, CEO and managing partner of HORNE LLP. "Joining BDO USA provides our people and clients with greater resources, capabilities, and solutions, expanding our ability to meet evolving needs and deliver even greater value to the organizations and communities we serve.”

Upon completion of the transaction, HORNE professionals will be integrated into BDO USA practices, including assurance, tax, advisory, and BDO Capital Advisors. BDO USA will build on HORNE’s disaster recovery experience to establish BDO Government Services, LLC, a wholly owned subsidiary of BDO USA, P.C., comprising HORNE’s government services practices and professionals in the continental US and Puerto Rico. In conjunction with this expansion, BDO USA will for the first time provide services directly to the government of Puerto Rico.

The dedicated practice in Puerto Rico will continue under trusted local leadership, continuing to support valued clients and the more than 130 team members who proudly live, work and serve across the island. Since 2018, this team has delivered best-in-class disaster recovery services to the communities of Puerto Rico. BDO USA is dedicated to upholding the strong tradition of service established by HORNE professionals, supporting the people and government of Puerto Rico—especially in their ongoing recovery efforts beginning with Hurricanes Irma and María.

“This combination positions us to deliver even greater value and efficiency as well as enhanced technology to our clients across our core services and specifically within government services," said Neil Forbes, managing partner of government services and chair of HORNE’s board of directors. "Together, we will build on our legacy of supporting communities—especially in times of crisis and beyond—while creating new opportunities for our team members and the clients we serve.”

The terms of the transaction are not disclosed.

About BDO USA

Our purpose is helping people thrive every day. Together, we are focused on delivering exceptional and sustainable outcomes and value for our people, our clients, and our communities. BDO is proud to be an ESOP company, reflecting a culture that puts people first. BDO professionals provide assurance, tax, and advisory services for a diverse range of clients across the U.S. and in over 160 countries through our global organization.

BDO is the brand name for the BDO network and for each of the BDO Member Firms. BDO USA, P.C., a Virginia professional corporation, 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. For more information, please visit: www.bdo.com.

About BDO Capital Advisors

Investment banking products and services within the United States are offered exclusively through BDO Capital Advisors, LLC, a separate legal entity and affiliated company of BDO USA, P.C., a Virginia professional corporation. For more information, visit www.bdocap.com. Certain services may not be available to attest clients under the rules and regulations of public accounting. BDO Capital Advisors, LLC Member FINRA/SIPC.

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