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Two Top 50 Accounting Firms Announce Massive Mega-Merger

Two Top 50 Accounting Firms Announce Massive Mega-Merger

In a move that has captured the attention of the accounting world, two Top 50 firms -- Elliott Davis LLC and Whitley Penn LLP -- have announced a mega-merger that will yield a new organization, Elliott Penn LLP. 

Per an Accounting Today article about the merger, the two firms will have "approximately $400 million in combined annual revenue, when the transaction is scheduled to close on Nov. 1 [2022]."

Fort Worth, TX-based Whitley Penn was founded in 1983. The current managing partner is Larry Autrey, who shares the following message on the company's official website:

Change is constant. Our commitment to ongoing education and process innovation reinforces our efforts to stay on top of the ever-changing financial landscape. At Whitley Penn, we're providing our clients with solutions and resources so that they have the confidence to make the most of their next opportunity.

Elliott Davis has a presence throughout the Southeast, including offices in Augusta, GA, Charleston, SC, Charlotte, NC, Chattanooga, TN, Columbia, SC, Franklin, TN, Greenville, SC, Raleigh, NC, and Nashville, TN.

The Nashville location operates under the Vaden name, and Elliott Davis has, to date, been an independent firm associated with Moore International Limited. 

Accounting Today noted that Whitley Penn's Autrey and Elliott Davis's CEO Rick Davis will serve as joint CEOs of Whitley Davis. 

Once the merger is complete, the large accounting firm is expected to "have approximately 1,400 professionals working in 16 offices across the South. Whitley Penn has approximately 78 partners and 650 employees, while Elliott Davis has around 72 partners and 712 employees."

Davis told the Upstate Business Journal, ""Through our conversations about the changing dynamics in our industry, we recognized that together we would cover the hottest growth markets in the country."

Elliott Davis LLP is expected to emerge as a Top 25 firm. 

Regardless of how large your CPA firm is, it's always smart to stay abreast of the latest news and mergers in the tax and accounting industry.

Not only can knowledge of key business deals help you better understand the current business climate in the accounting field, but it may give you ideas for how to grow and expand your own CPA office in the future.

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Rebekah Barton

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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