The accounting firms of Whitley Penn LLP and Elliott Davis, LLC announce Monday that they will join forces and merge to form Elliott Penn LLP, a business solutions firm with approximately $400 million in revenue at the time of combination. By proactively bringing these two firms together, Elliott Penn leverages the strengths of both firms and establishes a footprint predominantly positioned in the fastest growing markets in the country.
With a network of 1,400 professionals and 16 offices across the South, Elliott Penn will be uniquely positioned to respond to changing market forces by fueling growth and opportunity while providing greater depth of talent and broader resources for its customers. The new firm’s combined resources will create career opportunities for its people and expand the reach of its national practices and industry specialties even further, said officials. The merger of equals is expected to close Nov. 1, subject to customary closing conditions.
Larry Autrey, CEO of Whitley Penn, and Rick Davis, CEO of Elliott Davis, will jointly serve as CEOs of the new firm. According to these two industry leaders, Elliott Penn was inspired by their existing relationship which allowed them to create a unique opportunity leveraging each firm’s strengths and vision for the future.
“Elliott Penn is the result of a long-term relationship which turned into a mutual conversation about what could be,” said Mr. Autrey. “We chose to combine now, through a trusted relationship which allowed us to work together to create a unique opportunity for our customers and our people. I could not be more excited about what Elliott Penn will offer to the market and our teams.”
Mr. Davis said, “Through our conversations about the changing dynamics in our industry, we recognized that together we would cover the hottest growth markets in the country. I am thrilled to be able to bring our capabilities to a broader range of customers through Elliott Penn and provide an attractive opportunity inspiring others looking to be in the best position for the future.”
Together, the combined firm will have a larger national presence as a Top 25 firm and a broader market recognition, with professionals throughout the country and offices in North Carolina, South Carolina, Georgia, Tennessee, Texas and New Mexico.