Whitley Penn to merge in Cogenics

Whitley Penn is adding Cogenics Consulting, a technology consulting firm in Pleasanton, California, expanding the Fort Worth, Texas-based Top 50 Firm’s client accounting and advisory services team, effective June 1.

Cogenics specializes in data analytics and digital transformation for financial forecasting, analysis and strategic planning. It works with applications and companies such as SAP, Oracle, NetSuite, Salesforce, Microsoft Dynamics, Intuit’s QuickBooks, Sage and Workday.

Financial terms 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. 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. The two firms’ cultures reportedly did not match up well enough. 

“It was determined that both firms would be successful moving forward independently,” said a spokesperson.

The combination with Cogenics is likely to go more smoothly. “On behalf of the Cogenics team, we could not be more excited to become a part of the dynamic Whitley Penn client accounting & advisory services group,” said Cogenics Consulting CEO Naveed Salman in a statement Wednesday. “Combining our advanced software implementation and analytics consulting services with the current CAAS offerings will allow for unique and tailored strategic solutions. Together, our strong network of experienced and knowledgeable professionals will work to provide top-notch client service and better serve as an extension of our clients’ teams.”

“We are excited to welcome the Cogenics team to Whitley Penn,” said Nathen McEown, the firm’s partner-in-charge of consulting, in a statement. “The value this powerful partnership will bring to our clients is significant and will enable our CAAS team to provide a holistic and elevated level of service.”

“As the client accounting & advisory services demand increases in the accounting industry, we are thrilled to have Cogenics be an integral part of our practice’s growth,” stated Irfan Dossani, partner-in-charge of CAAS at Whitley Penn. “Having the capability to be a one-stop shop for our clients is a remarkable milestone that would not be possible without Cogenics and their team’s strong technology capabilities.”

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.