CHICAGO, Nov. 6, 2013 /PRNewswire/ -- McGladrey LLP, the leading U.S. provider of assurance, tax and consulting services focused on the middle market, announced today the signing of a definitive agreement to acquire substantially all the assets of Houston-based Margolis, Phipps & Wright, P.C. (MP&W), a Certified Public Accounting firm offering services in the fields of taxation and personal and financial consulting. The closing is anticipated on Dec. 2, 2013.
"We are proud to join McGladrey to establish its Houston office," said Barry Margolis, executive committee member with MP&W. "McGladrey's focus on the middle market and approach to client service is very similar to ours. We look forward to providing the same high-quality service our clients have come to expect from MP&W's teams while also offering expanded services, capabilities and expertise as part of McGladrey."
McGladrey and MP&W share a common focus on serving entrepreneurial companies and individuals, and a shared commitment to quality, exceptional client service and strong relationships. All 14 of MP&W's leaders will join McGladrey as partners, and its 100+ employees in Houston will receive offers to join McGladrey.
"Houston is a hub for dynamic, middle market companies, and McGladrey has been looking to enter this market for some time," said Joe Adams, managing partner and CEO of McGladrey. "We look forward to having the MP&W team members join McGladrey. Their stellar local reputation and great clients provide a strong foundation from which to build a full service office in Houston. In addition, MP&W's tremendous talent in serving high-net-worth families and closely held businesses will complement McGladrey's national service offerings for middle market companies."
MP&W's executive committee, Barry Margolis, Jan Phipps and Tommy Wright will serve as McGladrey's management team in Houston. McGladrey Houston will be located in the existing MP&W offices at 1400 Post Oak Boulevard. McGladrey also has an office in Dallas with 13 partners and more than 150 professionals. Combined, these two offices will make McGladrey a leading provider of assurance, tax and consulting services focused on the middle market in Texas.
McGladrey LLP is the leading U.S. provider of assurance, tax and consulting services focused on the middle market, with more than 6,700 people in 75 cities nationwide. McGladrey is a licensed CPA firm and serves clients around the world through RSM International, a global network of independent assurance, tax and consulting firms. McGladrey uses its deep understanding of the needs and aspirations of clients to help them succeed. For more information, visit www.mcgladrey.com, join our Facebook fan page at McGladrey News, follow us on Twitter @McGladrey and/or connect with us on LinkedIn.
SOURCE McGladrey LLP