BDO USA, a national accounting and advisory firm, has announced its combination with MBAF, the largest Florida-based accounting and professional services firm.
The deal, expected to be completed on 16 January subject to closing conditions, will be BDO’s eighth combination of FY21.
Some 600 staff will join the company from MBAF, as it looks to gain “unprecedented growth” through strategic combinations and new market opportunities.
Wayne Berson, CEO at BDO, said: “With BDO and MBAF combining, our respective strengths create an unmatched opportunity for two like-minded firms to become a sum much greater than their parts.
“Together, as the leading accounting and advisory firm in Florida, we will maintain our unparalleled dedication to client service and continue to champion the middle market across the country.”
MBAF’s affiliates WhiteOwl and Fiscal Management Associates (FMA) will also join BDO as a part of the combination.
While WhiteOwl will become a part of BDO Digital, FMA will continue to serve over 400 nonprofit organizations under the name BDO-FMA.
Allan Koltin, CEO at Koltin Consulting Group, who advised both firms on the transaction, called it the “deal of the century”.
He added that it will bring together “two powerhouse firms that share common philosophies around fostering people-first cultures, giving back to local communities and focusing on technology and innovation as the future of the profession.”