McGladrey LLP has signed a definitive agreement to acquire substantially all the assets of Houston-based Margolis, Phipps & Wright PC.
MP&W provides taxation, personal and financial consulting. The deal is expected to close on Dec. 2, 2013.
“We are proud to join McGladrey to establish its Houston office,” MP&W executive committee member Barry Margolis said in a statement. “McGladrey’s focus on the middle market and approach to client service is very similar to ours. We look forward to providing the same high-quality service our clients have come to expect from MP&W’s teams while also offering expanded services, capabilities and expertise as part of McGladrey.”
MP&W’s 14 leaders will join McGladrey as partners, and its 100+ employees in Houston will receive offers to join McGladrey. MP&W’s executive committee—Barry Margolis, Jan Phipps and Tommy Wright—will serve as McGladrey’s management team in Houston.
“Houston is a hub for dynamic middle-market companies, and McGladrey has been looking to enter this market for some time,” said Joe Adams, managing partner and CEO of McGladrey. “We look forward to having the MP&W team members join McGladrey. Their stellar local reputation and great clients provide a strong foundation from which to build a full-service office in Houston. In addition, MP&W’s tremendous talent in serving high-net-worth families and closely held businesses will complement McGladrey’s national service offerings for middle-market companies.”