Accounting firm Weaver and Tidwell reported that its net revenues for the 2008 fiscal year ending May 31 reached $51 million, a 28 percent increase over the previous fiscal year.

A major factor contributing to the growth was the firm’s merger with Houston-based Patterson, Newman & Associates, increasing Weaver and Tidwell’s energy practice. “Our second merger in the Houston market supported the firm’s expansion and led to the location doubling in size,” said managing partner W.M. Lawhon in a statement.

The firm services companies involved with exploration and production, distribution and refining, and renewable power and fuel, as well as energy services. The firm also performs attestation engagements required by the Environmental Protection Agency, laboratory audits and regulatory compliance audits.

Weaver and Tidwell’s energy niche grew by 54 percent and its manufacturing and distribution niche grew by approximately 17 percent, according to Alyssa G. Martin, an executive partner in the firm’s Dallas office. The firm’s risk advisory services practice also grew 18 percent.

Weaver and Tidwell ranks as the Southwest’s largest regional accounting firm, according to Practical Accountant.

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