Farmington Hills, Mich.-based IPA 100 firm UHY LLP (FY23 net revenue of $346.6 million) has announced a growth investment from Summit Partners. This investment will support the continued expansion of UHY’s team, technology and client service offerings, while helping to accelerate both organic and acquisition-driven growth.
“This partnership marks the beginning of a new and expanded era of growth for UHY. Together with Summit, we are focused on scaling our impact while continuing to deliver the highest-quality service and outcomes for our clients and colleagues,” said Steve McCarty, CEO of UHY. “This new capital – and Summit’s commitment to operational excellence and deep experience supporting profitable growth – will help us accelerate our growth strategy, deepen relationships with existing clients, and set new standards in the dynamic middle market.”
UHY has experienced significant growth over the last four years, completing 15 acquisitions that have helped expand its global network to serve clients across numerous high-growth industries.
“UHY has established itself as a highly respected, market-leading accounting, tax, consulting and advisory services firm built on a reputation for client service and innovation,” said Paul Furer, a partner at Summit who has joined UHY’s board of directors. “We have been deeply impressed by UHY leadership, particularly by the team’s demonstrated ability to drive strong organic growth while building a strategic acquisition engine. We are thrilled to join forces with the UHY team to support the firm’s continued expansion.”
“UHY is consistently ranked best-in-class for quality of service and client satisfaction, and we believe this is a testament to our service-focused team and the culture of excellence we’ve created,” added McCarty. Terms of the transaction were not disclosed.
