McGladrey LLP is buying accounting firm Margolis Phipps & Wright PC for an undisclosed amount.

The purchase of Margolis will give McGladrey a Houston-based office. The target’s management will join McGladrey, and the firm’s employees will all receive offers to join the buyer.

Margolis’ executive committee – Barry Margolis, Jan Phipps and Tommy Wright – will serve as McGladrey’s management team in Houston.

“Their client base is a very important group of clients in Houston and in the state of Texas. It was a great fit for us and a way to enter the market in a meaningful way,” says McGladrey’s Kevin Prien, central regional managing partner. McGladrey, which provides assurance, tax and consulting services to middle-market companies, already has an office in Dallas with about 150 employees. The Chicago-based advisory firm has many U.S. offices, as well as international offices through a partnership with RSM International. 

The buyer is on the lookout for more opportunities, Prien says, including add-on mergers in the company’s existing markets. 

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