Whitley Penn to merge in Johnson, Miller & Co.

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Whitley Penn, a Top 50 Firm based in Fort Worth, Texas, will be adding Johnson, Miller & Co., a Regional Leader in the Southwest, in November, increasing the size of the firm to approximately 600 employees in eight offices throughout Texas and New Mexico.

Whitley Penn managing partner Larry Autrey anticipates the combined firm will have $124.8 million in annual revenue by the end of the year, with 62 partners and 464 employees. Whitley Penn ranked 41st on Accounting Today’s 2020 list of the Top 100 Firms and in second place on the Regional Leaders list for the Southwest. Johnson Miller ranked in 12th place on the Regional Leaders list. Johnson Miller earned $22 million in annual revenue. It has 14 partners and 82 employees.

“We are very excited about the Johnson, Miller & Co. team joining the firm, Autry said in a statement Thursday. “We have explored opportunities to expand into west Texas for many years and Johnson, Miller & Co. is the perfect fit. Our firm culture and client bases are very similar with strength in the energy, construction, banking and public sector industries.”

He said the combined firm would offer expanded services to its current clients and prospects. The Johnson Miller team will continue to serve clients from the Midland and Odessa, Texas offices, and Hobbs, New Mexico, location as Whitley Penn after the transaction takes effect in November.

“As we plan for the future of our employees and our clients, we know that Whitley Penn is the right place to excel forward,” said Steven Jeffcoat, managing partner of Johnson, Miller & Co., in a statement. “We are excited to join the firm and offer additional niche services and expanded industry experience for our client base locally, nationally and internationally.”

Koltin Consulting Group CEO Allan D. Koltin advised both firms on the merger. “When it comes to the Top 50 CPA firms in the country, Whitley Penn is one of the most respected and highest performing firms in the country,” he said in a statement. “They are blessed to have great leadership, talent, and are viewed by their clients as their most trusted and valuable business and personal advisor. Johnson Miller has the same reputation and pedigree. As one of the top CPA firms nationally, they are the perfect fit to join Whitley Penn.”

Last November, Whitley Penn merged in Speer & Associates, a firm based in Dallas. In 2018, Whitley Penn added Dossani, Turnage & Van Hoose and its affiliate, Impact Financial Solutions, also in the Dallas–Fort Worth area.

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M&A Integrations Allan Koltin