Chicago-based IPA 100 firm BDO USA LLP (FY20 net revenue of $1.8 billion) is bolstering its presence in the Baltimore and Washington markets by merging in Owings Mills, Md.-based IPA 200 firm Hertzbach & Company (FY19 net revenue of $28 million).
Founded in 1948 by George Hertzbach, Hertzbach & Company provides assurance, tax and advisory services to clients throughout the mid-Atlantic region, specializing in construction, real estate, health care, government contracting, manufacturing, nonprofit and financial services. Hertzbach has been a member of the BDO Alliance USA since 2003.
“While Hertzbach & Company has been part of the BDO Alliance USA for more than 17 years, this official combination with the firm significantly bolsters our presence in the greater Baltimore and Washington, D.C. markets and enhances our ability to serve clients throughout the entire mid-Atlantic region,” says BDO CEO Wayne Berson.
The deal adds 135 partners and professionals from Hertzbach to the BDO team. BDO will maintain Hertzbach’s Owings Mills, Md., office. Hertzbach’s Arlington, Va., office has been folded into BDO’s McLean, Va., office and the Rockville, Md., office will be integrated into BDO’s Potomac, Md., location.
“Our clients will continue to receive the same level of personalized attention, but with this expansion, will have access to a wider array of solutions, broader industry experience and the full depth of BDO’s global network,” says Hertzbach MP Joel Chazen. “As we continue our long-standing relationship with BDO, we look forward to a bright future for our employees and clients, alike.”