UHY Advisors and UHY LLP expanded Thursday in the Northeast by acquiring Flynn, Walker, Diggin CPA PC, a firm in Saratoga Springs, New York, effective Nov. 8, 2018.
Financial terms of the deal were not disclosed. UHY Advisors, based in Chicago, ranked No. 32 on Accounting Today’s 2018 list of the Top 100 Firms, with $135.5 million in annual revenue.
All of FWD’s employees are expected to continue in their current roles in the combined firm. “We are pleased to welcome the highly experienced team at Flynn, Walker, Diggin to the UHY network,” said UHY Advisors NY Inc. CEO Michael Mahoney in a statement. “Their addition will further strengthen our presence in the capital region and help us advise clients in the local marketplace. The acquisition is also testament to UHY’s organic growth in the Northeast, which allows us to bring UHY’s signature brand of service to businesses and organizations in the area while maintaining local community ties.”
UHY has been involved in several other deals lately, including a merger in May with Del Conte, Hyde, Annello Schuch in Farmington, Connecticut. In January, UHY expanded in Raleigh, North Carolina, with the acquisition of Bright Point Consulting.
“We are excited to combine our talents with the minds of UHY to provide the next level of service to clients in Saratoga Springs, the Southern Adirondack Region, the Albany Capital District, and New York’s Tech Valley,” said FWD managing partner Patrick Diggin in a statement. “We look to leverage our personal expertise in audit, accounting, tax and management services to benefit individuals, closely held companies, and not-for-profit and government entities. As part of UHY, we will continue to help our clients meet their goals with the addition of international resources that UHY offers.”
UHY sees the acquisition as fitting in with its culture.
“The team at Flynn, Walker, Diggin exemplifies the UHY ethos, with significant accounting experience across industries, personalized relationships with clients, and active involvement in the community,” stated Howard Foote, office managing partner of the Capital Region of UHY LLP and CFO of UHY Advisors NY. “We pride ourselves on providing clients with the highest quality of service in our role as their trusted advisors and look forward to working closely with this group of professionals.”
Earlier this week, the UHY international accounting and consulting network announced the appointment of a new chairman, Rick David, who has been chief operating officer of UHY Advisors, which is the name of UHY’s U.S. member firm. He joined the UHY Board of Directors in October 2012 and now serves as the treasurer of UHY.
“Being chairman of one of the largest accounting and consultancy networks in the world presents a really exciting opportunity” he said in a statement. “We are already seeing a large increase in cross-border work coming to the network and that is something that we intend to build on. More of our clients want our member firms to represent them globally and that is what this network facilitates.”
Separately, UHY International held its annual meeting in late October in Detroit. The meeting was the largest gathering of partners in UHY history, bringing together representatives from nearly 100 countries to discuss developments in the marketplace, exchange ideas, experience the city’s economic revitalization and network at the Henry Ford Museum and the Detroit Institute of Arts.
