RSM Expands In Texas Through Transaction with Padgett Stratemann
Establishes RSM offices in San Antonio and Austin and adds scale in Houston
RSM US LLP (RSM), the leading provider of audit, tax and consulting services focused on the middle market, today announced the signing of a definitive agreement to acquire substantially all the assets of Padgett Stratemann, one of Texas’ largest, locally owned CPA and business advisory firms. The transaction is expected to close August 16, 2016.
RSM and Padgett Stratemann will combine to become the fifth largest firm in Texas – 700 people strong with offices in Austin, Dallas, Houston and San Antonio – and the leading firm focused on serving the middle market in the state, across the country and around the world. The two firms have been connected through an alliance relationship for 21 years, and the transaction advances the growth strategy of both organizations.
“By joining forces with Padgett Stratemann, RSM has the opportunity to more broadly serve middle market businesses in Texas,” said Joe Adams, managing partner and CEO of RSM US LLP. “Padgett Stratemann shares our client-centric approach to doing business with a focus on building enduring, trusted relationships. The depth and breadth of our Texas practice will be a major force in the market, creating opportunities for the clients and people at both firms. We look forward to welcoming the Padgett Stratemann team to RSM.”
Founded in 1945, Padgett Stratemann is an audit, tax and advisory firm with 225 professionals and expertise in the construction, manufacturing/retail/distribution, financial institutions, financial services, energy, state and local government, and government contracting industries.
“By joining forces with RSM, we are taking the natural next step in our growth strategy and our relationship with RSM,” said John Wright, managing partner for Padgett Stratemann. “We’re pleased to join a firm that offers our clients and employees expanded resources, opportunities and global capabilities, while maintaining a small-firm culture and a strong commitment to the communities where we live and work.”
The transaction adds two new RSM offices – in Austin and San Antonio – and expands the firm’s growing Houston practice.
“Padgett Stratemann’s outstanding professionals, strong industry niches and great clients will strengthen our momentum in Texas and beyond,” said Kevin Prien, RSM US LLP’s central region managing partner. “Our shared values and commitment to serving our clients, employees and communities make Padgett Stratemann a great fit and the best choice for RSM to enhance its presence in Texas.”
About Padgett Stratemann
Padgett Stratemann & Co., LLP is San Antonio’s second largest CPA and business advisory firm. With additional offices in Austin and Houston, the firm works with clients in various sectors including: construction, entertainment, financial institutions, government, non-profit, healthcare, life sciences, professional services, manufacturing, retail, distribution, technology, energy, government contracting, and real estate. The firm’s experienced professionals provide a range of sophisticated accounting, audit, tax and other business advisory services for both publicly traded and privately owned companies. PS&Co. serves clients throughout the United States as well as internationally and is a member of the McGladrey Alliance - a business of RSM US LLP, the 5th largest accounting firm in the U.S. and a leading provider of assurance, tax, and consulting services.
In business for more than 70 years, PS&Co. is dedicated to professional excellence, integrity and community service. Learn more.
About RSM US LLP
RSM US LLP (formerly McGladrey LLP) is the leading provider of audit, tax and consulting services focused on the middle market, with 9,000 people in 86 offices nationwide. It is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 38,300 people in over 120 countries. RSM uses its deep understanding of the needs and aspirations of clients to help them succeed. For more information, visit rsmus.com, like us on Facebook, follow us on Twitter and/or connect with us on LinkedIn.