FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--UHY, a leading accounting, tax, consulting and advisory services firm, today announced a growth investment from Summit Partners. This investment will support the continued expansion of UHY's team, technology, and best-in-class client service offerings, while helping to accelerate both organic and acquisition-driven growth. This funding represents UHY’s first institutional capital, signaling a significant milestone in the firm's growth and strategic development.
Established in 2000, UHY serves a diverse client base ranging from closely held middle-market companies to Fortune 500 firms, providing tailored solutions designed to meet each business’s unique needs. UHY has experienced significant growth over the last four years, completing 15 strategic acquisitions that have helped expand its global network to serve clients across numerous high-growth industries. Today, UHY is ranked 29th on Accounting Today’s list of Top 100 Firms and operates nearly 40 offices with over 1,800 professionals across the United States. Through its global network, UHY International, the firm is represented in 334 offices across 96 countries.
“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 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, "We are excited to continue growing our team and building on UHY's position as an industry leader."
Terms of the transaction were not disclosed.
About UHY
UHY is one of the nation’s largest professional services firms providing accounting, tax, consulting and advisory services to clients primarily in the dynamic middle market. UHY translates its experience from working within numerous industries for its clients to provide them with a 360-degree view of their businesses. Together with their clients, UHY works collaboratively to develop flexible, innovative solutions that meet their clients’ business challenges. Visit www.uhy-us.com.
“UHY” is the brand name under which UHY LLP and UHY Advisors, Inc. provide professional services. The two firms operate as separate legal entities in an alternative practice structure. UHY LLP is a licensed independent CPA firm that performs attest services. UHY Advisors, Inc. provides tax and business consulting services through subsidiary entities. UHY Advisors, Inc. and UHY LLP are U.S. members of Urbach Hacker Young International Limited (UHY International), a UK company, and form part of the international UHY network of legally independent accounting and consulting firms.
About Summit Partners
Summit Partners is a leading growth-focused investment firm. Summit invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, healthcare and other growth industries. These companies have completed more than 175 public equity offerings, and more than 250 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and seeks to invest in category-leading, profitable growth companies worldwide. For more information, please see www.summitpartners.com or follow on LinkedIn.
