April 14, 2024

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BDO Usa, LLP Combines with MBAF, Growing Nationwide Footprint and Getting the Largest Accounting and Advisory Business in Florida

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CHICAGO–(Company WIRE)–BDO United states of america, LLP, a single of the nation’s foremost accounting and advisory companies, nowadays introduced the addition of 600 pros from MBAF, a top rated-ranked national accounting and advisory company that serves domestic and global consumers throughout a wide vary of industries and techniques. The mix is subject to customary closing conditions and is envisioned to be done on January 16, 2021.

“With BDO and MBAF combining, our respective strengths develop an unmatched prospect for two like-minded firms to turn out to be a sum considerably greater than their pieces. Collectively, as the top accounting and advisory business in Florida, we will retain our unparalleled dedication to client provider and proceed to champion the center current market across the state,” explained Wayne Berson, CEO of BDO United states. “Like BDO, MBAF has remained dedicated to excellence, steadiness and longevity, all though main with intent. Nowadays, we officially welcome MBAF’s fantastic management and staff members as we anticipate what is upcoming in the calendar year in advance and posture ourselves for long-phrase resilience and unparalleled progress.”

With continued progress credited to a globe-course workforce, fantastic consumer provider and purposeful innovation, BDO described a overall income of $1.8 billion in FY20. BDO expects to surpass revenues of $2 billion in FY21 by means of continued concentration on strategic mixtures, new current market possibilities, expanding its existing market existence and a concerted investment in firmwide innovation and new support offerings. MBAF is BDO’s eighth mixture of FY21 and the tenth mix of calendar 12 months 2020.

MBAF is the greatest Florida-dependent accounting and specialist providers firm, and one particular of the most significant Hispanic-owned businesses in the region. MBAF provides assurance, tax and accounting, advisory, technology consulting and personal wealth management companies to business people and set up organizations ranging in dimension from begin-up companies to entities with multi-condition and international functions. Started in 1969, MBAF was named a 2020, 2019, 2018 and 2017 South Florida Small business Journal Ideal Locations to Get the job done finalist and a 2020, 2018 and 2017 Accounting Currently Best Accounting Company to Get the job done For. Also, Accounting Right now named MBAF a Prime 40 accounting and advisory organization, and Inside General public Accounting named them the Greatest of the Best corporations in the place for the earlier 19 a long time consecutively.

“As a Florida marketplace leader, MBAF’s expertise, methods and geographic impact will bolster BDO’s presence in the location, and our like-minded method to philanthropy will enable us to continue on to make an impression in the communities we serve,” said Tony Argiz, CEO and Chairman of MBAF. “Recently, as we celebrated MBAF’s 50th anniversary, I reflected on the remarkable achievement our agency has understood serving our shoppers by frequently evolving with the spectacular shifts in our industry. Our final decision to sign up for BDO arrives from a place of power to boost company to our clientele, deliver possibilities for our men and women and proceed our sturdy path of expansion in Florida and past.”

“Continuity for our shoppers and our folks continues to be our top rated precedence as we be a part of forces with BDO. Our purchasers will however see the similar names and faces they’ve arrive to belief over the many years, only now with larger methods and capabilities accessible to all of our observe areas,” claimed Miguel G. Farra, Chairman of Tax and Accounting at MBAF. “Joining BDO creates new alternatives for our people today, our shoppers and our communities. Blended we will provide customers a robust suite of products and services, an even larger national and worldwide footprint, and accessibility to field abilities and methods.”

MBAF’s attain spans the breadth of the Florida sector, with added offices in New York, Maryland, Colorado, Nevada and India. MBAF’s foundational expertise lies in a numerous set of industries, together with health care, fiscal solutions, nonprofit and foundations, automotive, sporting activities and enjoyment, actual estate, and condominiums and associations. Empowering personnel to be stewards of their communities, MBAF is the ninth-major corporate philanthropist in South Florida, supporting a lot more than 100 charitable companies.

As a element of the combination, MBAF affiliates WhiteOwl and Fiscal Management Associates, LLC (FMA) also will join BDO, with WhiteOwl turning out to be aspect of BDO Electronic. Bringing a powerful manufacturer and lengthy-standing track record for excellence, FMA will grow to be BDO-FMA, LLC, upon the productive day, adding a complementary boutique nonprofit apply to BDO’s marketplace major services and insights for the nonprofit sector. A leading management consulting agency for nonprofit leaders making critical small business choices, FMA serves much more than 400 nonprofit organizations and the funders that guidance them during the region, providing capacity creating initiatives that encourage stable, extensive-term expansion and financial resilience.

“MBAF is considered by numerous as a person of the most prosperous impartial firms in the place and their joining BDO marks a substantial alter in the landscape of the profession,” mentioned Allan D. Koltin, CEO of Koltin Consulting Group, who recommended the two corporations on the transaction. “This combination is the offer of the century, continuing BDO’s stunning progress trajectory and bringing jointly two powerhouse firms that share widespread philosophies all around fostering people-first cultures, offering back to nearby communities and concentrating on technological innovation and innovation as the long run of the career.”

About BDO Usa

BDO is the brand title for BDO United states, LLP, a U.S. qualified companies agency delivering assurance, tax, and advisory companies to a huge variety of publicly traded and privately held providers. For more than 100 many years, BDO has presented good quality assistance through the active involvement of qualified and committed pros. The agency serves shoppers through a lot more than 60 offices and more than 700 impartial alliance firm destinations nationwide. As an independent Member Business of BDO Global Restricted, BDO serves multi-countrywide clients by a worldwide community of much more than 88,000 folks doing work out of over 1,600 workplaces throughout 167 nations.

BDO Usa, LLP, a Delaware confined liability partnership, is the U.S. member of BDO Global Limited, a British isles company minimal by ensure, and sorts portion of the global BDO community of independent member corporations. BDO is the model identify for the BDO community and for each individual of the BDO Member Corporations. For additional information and facts you should stop by: www.bdo.com.

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