Withum announced on June 2 that Pannell Kerr Forster of Texas (PKF Texas), a public accounting, tax, and business advisory firm headquartered in Houston, has joined the top 25 firm.
Financial terms of the deal weren’t disclosed. As a result of this transaction, PKF Texas is no longer a member firm of PKF Global, an international network of independent accounting firms.
PKF Texas’ 20 partners and approximately 160 team members have joined Withum and will remain at their office in Houston.
“Uniting our firms enables us to grow a portfolio of energy and oilfield service businesses nationwide. A piece of our M&A strategy aims to build around existing capabilities to create a more holistic client service approach. Diversity in expertise, experience, and culture strengthens our ability to serve our clients and attract talent. Having a presence in the ‘Space City’ offers us fantastic growth opportunities, and we’re excited to be here,” Patrick Walsh, managing partner and CEO of Princeton, NJ-based Withum, said in a statement.
PKF Texas began as a local CPA practice, which merged into the PKF national partnership as the Houston PKF office in 1986. In the early ’90s, the PKF national partnership dissolved, and the resident partners in Houston acquired the office, choosing to continue the association with PKF International and renaming the firm PKF Texas.
The firm provides services in audit, accounting, domestic and international tax, entrepreneurial advisory, outsource and co-source accountancy, and employee benefit plan audits to emerging and middle-market companies across many industries.
In addition to adding an established energy and oilfield services practice to Withum, enhanced industry strengths resulting from the PKF Texas union include financial services, manufacturinrg, professional services, technology, and private client services, as well as a variety of client accounting and advisory services.
“We are very excited and eager to become part of the Withum team. Our promise has always been to build personal connections through forward-thinking expertise while working to help our clients reach their goals,” said Gary Voth, director and chairman of the board of PKF Texas, who is now a partner at Withum. “Withum shares a similar mindset and entrepreneurial spirit.
“Joining forces with Withum offers our valued clients and dedicated staff even greater opportunities to thrive and succeed,” he added. “Our clients will now benefit from a larger platform of national and international resources, deeper technical expertise, and specialized knowledge. We share a commitment to the highest level of integrity, a flexible and innovative culture, and a dynamic approach to problem-solving. This allows us to seamlessly expand into new markets while maintaining our core values as we continue to service our clients under the Withum brand.”
Withum’s last M&A deal was a little more than a month ago when the firm added Lincolnshire, IL-based CTM CPAs & Business Advisors.
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