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M&A roundup: Crowe and PKF Smith Cooper expand

April 3, 2024
in Accounting
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M&A roundup: Crowe and PKF Smith Cooper expand
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Crowe LLP, a Top 25 Firm based in Chicago, entered into an agreement with Belt Harris Pechacek LLLP, a Houston-based firm that provides audit and support services to local Texas governments, for the BHP team to join Crowe. The transaction is expected to close in the next 30 days, and promises to expand the Crowe’s presence in Texas, particularly with public sector clients. Crowe’s audit and assurance business unit includes over 1,400 professionals.

“BHP is a well-respected firm in the Texas market with a significant presence serving the public sector,” said Wendy Cama, managing partner of audit and assurance for Crowe, in a statement Tuesday. “At Crowe, we have ambitious growth plans, including expanding in key growth markets such as Texas, and our decisions are always grounded by our core values of care, trust, courage and stewardship. We’re very excited to welcome the BHP team to the Crowe family.”

Financial terms of the deal were not disclosed. Crowe ranked No. 12 on Accounting Today‘s 2024 list of the Top 100 Firms, with $1.375 billion in annual revenue, over 500 partners and approximately 6,300 employees.

“Since the inception of our firm, BHP’s goal has been to be the best in Texas at auditing local governments, including cities, counties, school districts, universities, and other special purpose districts,” said BHP LLLP managing partner Robert Belt in a statement. “Crowe has an impeccable reputation as a market leader and our existing clients will benefit from an expansive offering of professional services.”

In 2021, Crowe added Briggs & Veselka, a Top 100 Firm based in Houston, and Upaya – The Solution Inc., a technology firm in Palo Alto, California.

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