UHY Advisors will acquire Boston-based accounting firm Brown & Brown LLP. Financial terms of the deal were not disclosed.
Brown & Brown will be merged into the New England unit of UHY, and all of its existing staff will move operations to UHY's existing Boston office. According to Brown & Brown's Web site, the firm had opened an office in Westborough, Mass., in April 2005, and has a total of more than 80 employees.
The merger is expected to be completed July 1.
"We believe this merger provides us with an extraordinary opportunity to better serve the expanding needs of our regional and national clients," said Brown & Brown managing partner Carl F. Jenkins, in a statement.
In a statement, Brown & Brown said that the merger will eliminate concerns over how to add resources to its existing practice -- such as personnel, training, advertising/marketing, systems -- while providing an opportunity for additional industry coverage and long-term growth on local and national levels.
Brown & Brown's clients include start-ups, companies undertaking merger and acquisition activities, as well as a range of midsized and large corporation clients. To conform with UHY Advisors alternative practice structure, the non-attest business of Brown & Brown will be conducted through UHY Advisors, while the attest functions will be performed through UHY LLP, a licensed independent CPA firm.
UHY Advisors was ranked No. 15 on Accounting Today's 2006 list of Top 100 Firms, with revenues of $196 million.
