Crowe expands Texas operations with Briggs & Veselka acquisition
Crowe, a mid-market accounting and consulting firm, has expanded its presence in Texas with the acquisition of Briggs & Veselka, the largest locally owned accounting and consulting firm in Houston.
Founded in 1973, Briggs & Veselka delivers audit, tax, and consulting services to middle market companies, small cap public companies, and family offices in a wide range of industries. The firm’s consulting services include valuation, transaction advisory, forensic accounting, litigation, IT advisory, and cybersecurity.
Briggs & Veselka has more than 330 professionals across offices in Houston, The Woodlands (a Houston suburb), Austin, and El Campo. The firm is the third-largest independently owned accountancy in Texas and the 88th largest in the US, with annual revenue of $53.1 million, according to Inside Public Accounting.
The acquisition is part of Crowe’s “ambitious growth plans” that include expansion in key growth markets such as Texas, according to a release from the firm. Terms of the transaction, which is expected to complete on January 1, 2022, were not disclosed.
“Briggs & Veselka has grown to become a leading accounting and consulting firm that's well respected in the Texas market while staying true to their values of compassion, excellence, and dedication," said Mark Baer, CEO of Crowe. “We're very excited to welcome the Briggs & Veselka team to the Crowe family.”
The deal will expand Crowe’s Texas team to more than 550 people and add new offices in The Woodlands, Austin, and El Campo. Sheila Enriquez, managing partner and CEO of Briggs & Veselka, will join Crowe as a partner and Texas market leader. Thirty-three partners from Briggs & Veselka will also join Crowe as partners.
“In joining Crowe, we can remain true to our values and continue our legacy,” Enriquez said. “We're creating tremendous synergies that will provide greater opportunities for our team members and allow us to better serve our clients with expanded services and solutions, both in the great state of Texas and beyond.”
Crowe is the tenth-largest accounting and consulting firm in the United States, with approximately 4,400 employees and annual revenue of $926 million.
The Chicago-headquartered firm in October acquired SparkOrange, a Syracuse, NY–headquartered Salesforce consulting firm.
