8/13/2007 - Accounting Firm Weaver and Tidwell Announces Another Strong Finish for FY 2007
DALLAS-FORT WORTH, TEXAS (AUGUST 13, 2007) – Houston merger and expanded energy service offerings drive 30 percent growth in regional accounting firm’s net revenues
Weaver and Tidwell, L.L.P., the Southwest’s largest independent regional accounting firm according to Practical Accountant, announces net revenues for the 2007 fiscal year ended May 31, 2007 of $40 million, an increase of 30 percent over the previous year.
“Our successful expansion into the Houston market fueled this year’s growth of the firm,” said W.M. “Mack” Lawhon, Weaver and Tidwell’s managing partner. “At the same time we experienced organic growth as our client companies continue to thrive in the strong Texas economy.”
Weaver and Tidwell’s merger with Houston-based McDonald, Fox and Lund, P.C., in January expanded the firm’s Energy Practice significantly. The major energy industry segments now serviced by the firm include exploration and production, distribution and refining, renewable power and fuel and various energy service companies.
“Being part of a larger firm in Houston, we can offer more services that benefit our clients,” said John McDonald, the firm’s Houston executive partner. “And we now have the capabilities to serve larger energy companies in our market and throughout Texas.”
Although energy led the way, other practice niches experienced notable growth.
“Overall, our niche focus continues to drive business for the firm. The energy niche grew by 40 percent and our manufacturing/distribution niche grew by approximately 20 percent,” said Alyssa G. Martin, executive partner in the Dallas office. “The firm’s construction niche was up 20 percent as well, and we experienced growth of 50 percent in our Risk Advisory Services as decision makers continued to deal with the demanding corporate governance environment .”
The firm is ranked among the “Top 100 Largest Public Accounting Firms” in the country by Public Accounting Report, and ranks 6 th overall in size in the Metroplex according to the Dallas Business Journal. The firm is also ranked the largest independent regional accounting firm in the Southwest by Practical Accountant Magazine. Weaver and Tidwell was awarded a “Momentum Award” by the Dallas Chamber of Commerce for growth in 2006.
Founded in 1950, Weaver and Tidwell represents a broad range of clients including large national and international corporations, publicly and privately held businesses, nonprofit organizations, and government entities.
In addition to the firm’s audit, accounting and tax services, its accountants and consultants practice in the areas of business valuation; estate planning/wealth transfer; forensic accounting; information technology; international services; property tax; risk advisory services; and state and local tax. It also performs peer reviews for other accounting firms.
To meet the growing needs of its clients in the areas of employee benefits and financial planning, the firm has two affiliate firms: Retirement Plan Concepts and Weaver and Tidwell Financial Advisors, Ltd.
You may learn more about Weaver and Tidwell by visiting www.weaverandtidwell.com.