The partners of a pair of Charleston, S.C., accounting firms announced that on the heels of a merger, their business will be acquired by regional accounting firm Dixon Hughes PLLC.Financial terms of the deal were not disclosed.
The partners of Gamble Givens & Moody LLC (which has four offices in the state) and Charleston, S.C.-based Pratt-Thomas & Gumb CPAs will combine their practices Nov. 1 and continue operations as an approximately 125-employee practice unit doing business under the Dixon Hughes name.
The president of Gamble Givens & Moody, Brian Moody, described the deal as transforming a friendly rivalry into a “Low Country powerhouse.” The South Carolina Low Country describes the state's coastal counties, and is located just across the river from Savannah, Ga.
The Charleston practice unit of Dixon Hughes will be led by a three-member leadership team consisting of Moody, Pratt-Thomas & Gumb managing shareholder Roy Strickland and shareholder Rudy Thomas.
"This arrangement represents a four-way win," said Dixon Hughes co-chief executive Ken Hughes, in a statement. "Charleston-area clients gain access to more extensive resources through the same local relationships. The two largest Charleston firms gain the synergy of working together and Dixon Hughes fulfills a strategic objective to expand its southeastern footprint."
Dixon Hughes ranked No. 20 on Accounting Today's 2006 list of Top 100 Firms, with revenues of $113 million.
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