Greenville-based accounting firm Elliott Davis announced it will be merging with Texas-based accounting firm Whitley Penn to form Elliott Penn, a business solutions firm with approximately $400 million in revenue at the time of combination.
The merger of “two equals” is expected to close Nov. 1, subject to closing conditions, according to representatives of the newly-formed firm.
The announcement was made Monday June 13.
Rick Davis, CEO of Elliott Davis, and Larry Autrey, CEO of Whitley Penn, said the merger came about as a result of an already strong interpersonal relationship between the two. Both will serve as joint-CEOs of the new firm.
“Through our conversations about the changing dynamics in our industry, we recognized that together we would cover the hottest growth markets in the country,” Davis said.
Combined, the firm will have a larger presence nationally as a Top 25 firm, with a team of roughly 1,400 employees across 16 offices in North Carolina, South Carolina, Georgia, Tennessee, Texas and New Mexico.
