BDO acquires AC Lordi
BDO USA LLP has acquired AC Lordi, a management consulting firm based in Philadelphia, adding 100 professionals to BDO’s offices in the Philly area, effective June 1.
AC Lordi was started in 2001 and offers accounting, risk and compliance, business advisory and CFO services. Its practice niches include SEC reporting, internal and IT audit, technical accounting, SOX compliance and finance transformation, among others. The firm has performed work throughout the U.S. and in more than twenty countries for a broad range of clients, from emerging private equity-sponsored companies to multinational organizations across most major industries.
Financial terms of the deal were not disclosed. BDO USA ranked 7th on Accounting Today’s 2019 list of the Top 100 Firms, with $1.47 billion in annual revenue. The firm has approximately 600 partners and 5,000 professionals.
“BDO and AC Lordi are united in our commitment to providing exceptional client service and a holistic, solutions-oriented approach to complex business problems,” said Jay Duke, national managing partner of Advisory Services at BDO USA, in a statement. “This expansion builds on our advisory capabilities in the Philadelphia market with an infusion of top-notch local talent and deep industry experience.”
As part of the deal, AC Lordi CEO Frank Lordi and his firm’s six other principals will become BDO partners.
“We are thrilled to combine forces with BDO and increase the breadth and depth of services we can offer to our clients,” Lordi stated. “As part of such a high-caliber advisory practice, we can take advantage of BDO’s resources and relationships nationally and around the world. In turn, our team will deepen BDO’s management consulting and regulatory compliance credentials in addition to strengthening its presence in the mid-Atlantic region. We are stronger together than apart.”