SEATTLE, Aug. 24, 2017 /PRNewswire/ -- Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, and Hein & Associates LLP, a top 100 accounting firm, today announced that they signed a letter of intent to combine.
Following the completion of standard due diligence, the agreement is expected to be effective Nov. 1, 2017. With this combination, Moss Adams will expand its geographic footprint with new office locations in Denver and Houston, while also deepening resources in Dallas and Orange County. Hein also brings a nationally recognized oil and gas practice, a new sector that will round out the existing industry portfolio at Moss Adams.
"We're thrilled to combine with Hein & Associates and solidify our presence in key Western markets," said Chris Schmidt, Moss Adams chairman and CEO. "This is a unique opportunity to bring together two successful, like-minded firms to become the clear middle-market leader in the Western United States."
Founded in 1977, Hein & Associates provides accounting and advisory services to clients across a number of industries, including energy, manufacturing and distribution, real estate, construction and technology. With offices in Denver, Dallas, Houston and Orange County, this combination will add roughly 300 new personnel to Moss Adams, including 35 partners, bringing the total headcount at Moss Adams to nearly 2,900 in 26 locations.
"This combination presents us with an opportunity to diversify our capabilities and gain access to deeper resources that will help us to better serve our clients," said Jim Brendel, managing partner at Hein. "It became clear as we learned more about Moss Adams that there's also a strong cultural fit, which was a critical factor in our decision."
Revenue of the combined firm is expected to near $600 million.
About Moss Adams
With more than 2,600 professionals across 20-plus locations in the West and beyond, Moss Adams provides the world's most innovative companies with specialized accounting, consulting, and wealth management services to help them embrace emerging opportunity. Assurance, tax, and consulting offered through Moss Adams LLP. Wealth management offered through Moss Adams Wealth Advisors LLC. Investment banking offered through Moss Adams Capital LLC.
SOURCE Moss Adams LLP