overview
OVERVIEW
from page 4
spots in the Top 100 and grew its revenues
by over 52 percent — and still managed
to find time in 2011 to acquire a midsized
firm in Virginia.
Here’s another example: Warren Averett emerged this year as a major player
in the Top 100 and the Gulf Coast by
combining three firms — Warren, Averett,
Kimbrough & Marino, O’Sullivan Creel,
and Wilson, Price, Barranco, Blankenship
& Billingsley. Together, the three vaulted
an astonishing 42 spots on the Top 100, to
No. 34, and grew their combined revenue
almost 130 percent.
And if proof were needed that M&A is
here to stay, we can already tell you about
a deal that will make a major impact on
our 2013 Top 100: In June 2012, T100 Firms
Eide Bailly and Wipfli are due to merge,
a combination that will move them from
the low 20s on the list to the low teens.
(Though it’s wise to remember that merg-
ers don’t always pan out: T100 Firm Burr,
Pilger & Mayer was due to merge with
major Southern California firm Windes
& McClaughry, but the two called it off in
early February of this year.)
RESHAPING REGIONS
With deals at all levels, it’s no surprise
that M&A had a major effect on our Re-
gional Leaders, as well. All 10 regions grew
in 2011, and most by more than in 2010
(if they grew in 2010 at all, which some
didn’t), and it’s no coincidence that the
two regions that grew the most, the Gulf
Coast and the Southeast, are home to War-
ren Averett and Dixon Hughes Goodman,
as well as a number of other acquisitive
firms. (See Regional Overview, page 20.)
BEYOND THE TOP 100: FIRMS TO WATCH
As more and more firms join the Top 100 — whether by bulking up through acquiring other firms, or by being absorbed by already established members of the list — a new cohort of firms is moving up into the market space just below the T100. These rising firms have often grown large on mergers
and acquisitions of their own, and are strong contenders for the ranks of future T100 Firms.
Firm
Kennedy and Coe
Mountjoy Chilton Medley
Macias Gini & O’Connell
Grassi & Co.*
Rea & Associates
Wiss & Co.
Baker Newman & Noyes
Wolf & Co.
Padgett, Stratemann & Co.
Yeo & Yeo
Clark Nuber
Brown Smith Wallace
Jackson Thornton & Co.
Yount, Hyde & Barbour
Brady, Martz & Associates
Feeley & Driscoll
Frost
Dean Dorton Allen Ford
LaPorte Sehrt Romig Hand
Headquarters
Managing partner
Kurtis Siemers
D. Medley/M. Mountjoy
Kevin O’Connell
Louis Grassi
Lee Beall
Paul Peterson
Charlie Hahn
Daniel DeVasto
John Wright
John Kunitzer
David Katri
Harvey Wallace
Ned Sheffield
W. Mark Rudolph
Ronald Johnke
Thomas Feeley
Cheryl Shuffield
Richard Dorton
William Mason
Year
end
March
Dec
Dec
Dec
Oct
March
Dec
Sept
July
Dec
Dec
Dec
Dec
June
Sept
March
April
June
Nov
Revenue
($ mn.)
30.50
30. 15
30. 10
29.70
29. 20
29. 10
28. 30
28. 21
27.37
27.35
26.71
26.00
23.96
23.86
23.66
23.62
23. 14
22.42
21.33
%
chg.
-0.65
10.68
0.60
20. 10
0.48
0.21
1.80
4.71
-0.04
- 3. 25
4.42
4.92
3.95
-2.25
6.38
- 4.02
- 3. 22
39.51
3. 24
Total
Offices Partners employees
8
24 193
4 32 211
7 12 223
2 13 164
11 29 217
4 30 171
4 26 178
3 17 180
2 15 162
7 21 177
1 16 152
4 23 191
5 21 169
6 19 125
6 30 159
1 14 120
3 9 144
2 30 143
4 17 151
