Whitley Penn, a Top 40 Firm based in Fort Worth, Texas, is expanding its presence in the Lone Star State by adding Fisher, Herbst & Kemble, a firm based in San Antonio, effective Nov. 1.
FHK provides audit, tax and consulting services, including tax planning, preparation and reporting primarily for financial institutions, construction companies and retailers. Financial details of the deal were not disclosed. Whitley Penn ranked No. 37 on Accounting Today‘s 2023 list of the Top 100 Firms, with $185.61 million in annual revenue, approximately 80 partners and 700 employees. FHK has five shareholders, four managers and approximately 16 staff members, according to its website.
In addition to its Fort Worth headquarters, Whitley Penn already has Texas offices in Austin, Dallas, Hobbs, Houston, Midland, Odessa and Plano, but this would be its first office in San Antonio.
Courtesy of Whitley Penn
“We are thrilled to have the FHK team join Whitley Penn,” said Whitley Penn managing partner and CEO Larry Autrey in a statement Monday. “Expanding our presence into all major markets in the state of Texas is an incredible milestone. We believe that this integration will enable us to provide even more value to our clients, and we look forward to all the great things that we can achieve together.”
FHK was founded in 1983 and is one of the top 10 largest locally owned CPA firms in San Antonio, according to its website.
“On behalf of FHK, we are excited to be joining a strong Texas-based firm,” said FHK managing shareholder Bob Herbst in a statement. “We look forward to contributing to Whitley Penn’s goal of continued growth by adding to the firm’s network while strengthening its services and physical footprint.”
Earlier this year, Whitley Penn merged in Cogenics Consulting, a technology consulting firm in Pleasanton, California. Last year, the firm quietly canceled an announced merger with another Top 40 Firm, Elliott Davis, which would have produced a combined firm with about $400 million in annual revenue. In 2020, Whitley Penn expanded by adding Werlein & Harris, a firm in Houston, and Johnson, Miller & Co., a firm in Midland, Texas. In 2019, it merged in Speer & Associates, a firm based in Dallas, and in 2018, it added Dossani, Turnage & Van Hoose and its affiliate, Impact Financial Solutions, also in the Dallas–Fort Worth area.
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