Chicago-based IPA 100 firm BDO USA (FY24 net revenue of $2.89 billion) will add more than 1,300 professionals, including 30 principals, from Ridgeland, Miss.-based IPA 100 firm HORNE LLP (FY24 net revenue of $271.5 million) as part of its largest strategic expansion to date. The combination, expected to close Nov. 1, will expand BDO’s presence across seven Southern and Southeastern states, the District of Columbia and Puerto Rico, while substantially enhancing its government services practice.
Founded in 1962, HORNE has deep experience in government services, health care, construction, franchise operations and financial institutions, with particular strength in disaster recovery and federal program compliance. The firm has managed more than $126 billion in state and federal funding streams over the past 15 years.
“We are thrilled to have fueled our largest expansion to date through the advantages created by our employee stock ownership plan,” said Wayne Berson, CEO of BDO USA. “The ESOP has not only supported our growth and investment goals but has also set our culture apart — playing a critical role in our firms coming together.”
“At HORNE, our purpose is to deliver with care – for our team members, our clients and the communities we serve,” said Rusty Butcher, CEO and MP of HORNE. “Joining BDO USA provides our people and clients with greater resources, capabilities and solutions, expanding our ability to meet evolving needs and deliver even greater value.”
Upon completion of the transaction, HORNE professionals will be integrated across BDO USA’s assurance, tax, advisory and capital advisors practices. BDO USA will also establish BDO Government Services LLC, a wholly owned subsidiary, comprising HORNE’s government services practices and professionals in the continental U.S. and Puerto Rico.
“This combination positions us to deliver even greater value and efficiency as well as enhanced technology to our clients across our core services and specifically within government services,” said Neil Forbes, MP of government services and chair of HORNE’s board of directors.