RSM McGladrey’s Florida growth strategy took another step forward this month, as the firm announced that it has signed a letter of intent to acquire Tedder, James, Worden & Associates.
Financial terms of the deal, which is expected to close this summer, were not disclosed.
TJW employs 100 professionals in its metropolitan Orlando office -- all of whom are expected to remain at the location, including managing partner Johnnie James. Currently, RSM McGladrey has more than 300 employees working in seven Florida locations, including Fort Lauderdale, Jacksonville, Melbourne, Miami, Naples, Titusville and West Palm Beach.
An independently owned member of the RSM McGladrey Network, TJW has had a relationship with RSM McGladrey since 2000. In the past six year, the firm has increased its revenues from $3 million, to $12 million.
James told a local newspaper that he sees the deal as an opportunity for the firm to expand further -- particularly in the banking, education, government and international tax sectors -- and projecting annual growth between 15 and 20 percent.
RSM McGladrey, together with partner-owned McGladrey & Pullen LLP, has combined revenues of more than $1.2 billion and nearly 8,000 employees in more than 120 offices across the country.
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