Texas accounting firm Weaver has merged with Elms Faris, expanding the Fort Worth-based firm to the Midland/Odessa market.
With the merger, which takes effect June 1, all of Elms Faris' 53 employees, including 39 accountants and consultants and six partners, will join the combined firm, which will use the Weaver name. Weaver ranked No. 49 on Accounting Today's 2010 list of the Top 100 Firms, and is the largest independent firm in the Southwest, with $58.1 million in revenue. The combined firm will now have approximately $70 million in revenue.
"As a firm that serves businesses with interests throughout Texas, we are very excited about this merger," said Weaver managing partner and chief executive Tommy D. Lawler in a statement. "Having a presence in Midland/Odessa allows us to further our state-wide expansion. Merging with Elms Faris will not only build our footprint and revenue, but it will also increase the depth of our niche practices, including oil and gas, manufacturing and distribution, and state and local government."
Weaver also has offices in Austin, Dallas, Fort Worth, Houston and San Antonio.
Elms, Faris & Co. LLP was established in 1938 by George H. Marsh, and is one of the oldest and largest locally owned CPA and consulting firms in the Permian Basin. The firm provides assurance, tax, estate planning, information technology consulting, business valuation, management consulting, and transaction advisory services. The firm has been led since 1999 by managing partner Larry Edgerton, who has been named Weaver's Midland/Odessa executive partner.
"Our clients will benefit from the added depth and resource base this merger provides," he said. "We will be better positioned to serve growing businesses throughout this region of the state and continue to build upon the close, enduring relationships we have with our current clients."
