BDO USA acquires management consultancy AC Lordi
Accounting and consulting firm BDO USA has acquired Malvern, PA–based management consulting firm AC Lordi. The move expands BDO’s Philadelphia advisory practice.
Since 2012, BDO USA has more than doubled its revenues from $618 million to $1.47 billion, while entering 24 new US cities and expanding its footprint in 13 existing markets. The company has also absorbed a number of firms over that time: in January, BDO acquired Global Trade Strategies and Lootok, while its 2018 acquisitions included SWC Technology Partners and Smith & Gestelland.
The midmarket-focused firm currently has more than 60 US offices, as well as a national alliance network of more than 650 independent firms.
BDO USA has now expanded another of its major markets with the addition of boutique consulting firm AC Lordi. Founded in 2001, the Philadelphia-area firm offers services in accounting and finance, risk and compliance, business advisory, and CFO support. Serving most major industries, the company’s offerings span internal and IT audit, forensic accounting, finance transformation, ERP implementation, and valuation, among others.
“BDO and AC Lordi are united in our commitment to providing exceptional client service and a holistic, solutions-oriented approach to complex business problems,” Jay Duke, national managing partner of advisory services at BDO USA, said. “This expansion builds on our advisory capabilities in the Philadelphia market with an infusion of top-notch local talent and deep industry experience.”
The deal, expected to close on June 1, will see AC Lordi’s 100 professionals join BDO. CEO Frank Lordi, along with the firm’s six other principals (Lisa Hilburn, Rob Bright, Jim Clayton, Bill Dawson, Rob Fenton, and Jeff Flynn), will join BDO as partners.
“We are thrilled to combine forces with BDO and increase the breadth and depth of services we can offer to our clients,” Lordi said. “As part of such a high-caliber advisory practice, we can take advantage of BDO’s resources and relationships nationally and around the world. In turn, our team will deepen BDO’s management consulting and regulatory compliance credentials in addition to strengthening its presence in the mid-Atlantic region.”
