Two accounting firms in the Lone Star State, TravisWolff Co. and Burnside Rishebarger, merged Thursday, creating a combined firm with over $25 million in annual revenue.
Dallas-based TravisWolffs 130 staff members joined with San Antonio-based Burnside Rishebargers 25-member staff to create one of the largest independent firms in Texas. The combined firm will be known as TravisWolff Independent Advisors & Accountants.
TravisWolff was founded in 1991, while Burnside Rishebarger has been in operation since 1985. The two firms had casually discussed a merger several years ago at a Moore Stephens accounting network conference and began serious conversations in February 2009, according to TravisWolff managing principal Harold Gaar.
"Neither of us followed up for a while," he said. "TravisWolff was building up its infrastructure. In February, one of our partners was in San Antonio and when he returned he said these are pretty good folks. Once I heard that, I picked up the phone."
He said his firm had made a commitment several years ago to grow its professional services and attract quality talent through mergers and acquisitions, and Burnside saw an opportunity to grow by becoming part of a larger organization.
We are confident that our Dallas and San Antonio clients will benefit from our regional presence and the greater depth of services we now offer, said TravisWolff chairman Ken Travis in a statement.
Financial terms of the merger were not disclosed, but Gaar said the two firms were merely merging their assets and liabilities. TravisWolff is contributing approximately $22.5 million to $23 million in annual revenue and Burnside Rishebarger a little over $3 million.
