Farmington Hills Firm Set to Soar with New Investment
In an exciting development for the accounting world, UHY, a leading accounting, tax, consulting, and advisory services firm based right here in Farmington Hills, is gearing up for a major leap forward. The firm recently announced that it has attracted a growth investment from the Boston-based investment firm Summit Partners. While details of the deal are shrouded in secrecy, the implications for UHY are crystal clear: significant expansion is on the horizon!
New Capital for New Horizons
This partnership marks a pivotal moment for UHY as it represents the firm’s very first institutional capital injection. Since its founding in 2000, UHY has cultivated a diverse client base, ranging from closely-held middle-market companies right up to Fortune 500 firms. This latest financial backing will help UHY enhance its team, invest in cutting-edge technology, and expand its client service offerings. With new resources at their fingertips, the firm is primed to ramp up both organic growth and strategic acquisitions.
Remarkable Growth and Global Reach
Over the past four years, UHY has seen impressive growth, having completed a staggering 15 strategic acquisitions. This expansion has allowed them to build a robust global network that caters to clients in various high-growth industries. Currently, UHY is proudly ranked as the 29th firm on Accounting Today’s list of Top 100 Firms, operating nearly 40 offices and employing over 1,800 professionals across the United States. UHY International, as part of a global network, boasts representation in an astounding 334 offices across 96 countries.
Leaders Paving the Way
Steve McCarty, the CEO of UHY, is optimistic about the future, stating, “This partnership marks the beginning of a new and expanded era of growth for UHY.” With Summit’s extensive backing, UHY is gearing up to enhance connections with existing clients while pursuing fresh opportunities in the dynamic middle market. The focus is on increasing both impact and service quality, showcasing UHY’s commitment to excellence in all their endeavors.
A Bright Future Ahead
Paul Furer, a partner at Summit Partners, has also expressed enthusiasm about this collaboration. He remarked, “UHY has established itself as a highly respected, market-leading … built on a reputation for client service and innovation.” His words reflect the belief that the firm has laid down solid groundwork for future success, thanks to its leadership team’s ability to achieve robust organic growth, all while executing a strategic acquisition strategy.
The Bigger Picture
Summit Partners, known for its focus on investing across various growth sectors, has a lengthy history of backing successful companies. Since its 1984 inception, Summit has invested in over 550 companies, with these firms achieving more than 175 public equity offerings and over 250 strategic acquisitions to date. This wealth of experience makes them a perfect partner for UHY as it enters this exciting new chapter.
Conclusion: What’s Next for UHY?
The partnership between UHY and Summit Partners might just be the catalyst needed to propel UHY into a new realm of success. As the firm looks to deepen client relationships and foster new growth opportunities, there’s no doubt that both UHY and its clients stand to benefit immensely from this collaboration. With a firm commitment to providing exceptional service, UHY is setting its sights on not only meeting but exceeding the expectations of businesses everywhere.
For more information on UHY and their services, visit their official website.
