Doeren Mayhew acquires Evans & Chastain
Doeren Mayhew, a Top 100 Firm based in Troy, Michigan, has completed its acquisition of Evans & Chastain, LLC, a firm based in Houston.
The deal expands Doeren Mayhew’s footprint in the Houston area and bolsters its presence in the real estate sector. Doeren Mayhew has locations not only in Texas and its home state of Michigan, but also in Florida, North Carolina, Switzerland and the U.K.
Financial terms of the deal were not disclosed. Doeren Mayhew ranked 63rd on Accounting Today’s 2019 list of the Top 100 Firms, with $74.83 million in annual revenue.
Evans & Chastain has been offering tax, audit and business advisory services since 1992 to homebuilders, real estate professionals and developers across Texas. “When this transaction was initiated, a key factor taken into account was whether this was the right solution, not only for our clients, but for our employees as well,” said co-founder Robert Chastain in a statement Monday. “I’m confident that working with a globally recognized firm like Doeren Mayhew, we will be able to introduce new service capabilities and resources to our clients beyond our current capacity.”
All of his six staff members will become Doeren Mayhew employees, and Chastain will work with Doeren Mayhew on a consulting basis, helping the firm’s real estate clients in areas such as deal structuring and analysis, market assessments and financial operations. Doeren Mayhew has 62 shareholders and nearly 400 employees.
“Evans & Chastain is a well-known firm in the local real estate sector, and we are extremely excited for this opportunity to expand our team and reach in the Texas market,” said Chris Masters, Houston managing shareholder at Doeren Mayhew, in a statement. “Our shared commitment in delivering exceptional client service is what will help us continue serving as trusted advisors to his deeply-rooted client base as well as leaders in the marketplace.”