Farmington Hills Welcomes New Era of Growth at UHY!
Exciting news is making waves in Farmington Hills as UHY, a powerhouse in accounting, tax, consulting, and advisory services, has announced a significant growth investment from Summit Partners, a well-respected investment firm based in Boston. While the exact terms of this deal remain under wraps, it is sure to bring positive changes across the board!
The Drive for Expansion
Established back in 2000, UHY has built a stellar reputation, catering to a diverse clientele that includes everything from closely held middle-market businesses to major Fortune 500 corporations. With a commitment to providing tailored solutions for each unique business, UHY has been on a growth spree, completing an impressive 15 strategic acquisitions in just four years! These moves have not only expanded their global network but positioned them to serve clients in various high-growth industries.
Now, with Summit’s investment, UHY is geared up for an even brighter future. The funds will primarily focus on growing UHY’s team, enhancing technology, and boosting client service offerings. Steve McCarty, the CEO of UHY, enthusiastically shared, “This partnership marks the beginning of a new and expanded era of growth for UHY.” He continued, “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.”
A Solid Standing in the Industry
UHY has accomplished quite a bit lately—ranking 29th on Accounting Today’s prestigious list of Top 100 Firms! With nearly 40 offices and over 1,800 professionals scattered across the United States, it’s clear that they have a solid foothold in the industry. But that’s not all—thanks to UHY International, the firm boasts representation in 334 offices across 96 countries, making them a truly global player!
What This Means for Clients
The new capital from Summit Partners represents a significant opportunity for UHY to deepen their relationships with existing clients. Paul Furer, a partner at Summit who is also joining UHY’s board of directors, praised UHY’s exceptional reputation, stating, “UHY has established itself as a highly respected, market-leading firm built on a reputation for client service and innovation.” It’s clear that the future looks bright not just for the firm but for their clients as well.
Summit Partners has a rich history of supporting growth across high-potential sectors of the economy. Established in 1984, Summit has invested in over 550 companies spanning technology, healthcare, and more. Their record includes more than 175 public equity offerings and 250 strategic mergers and sales. It’s safe to say they know what it takes to help companies thrive!
What’s Next for UHY?
As UHY embarks on this exciting new chapter fueled by Summit’s investment, we can expect to see even more innovation and quality service from this talented team. With a focus on both organic and acquisition-driven growth, UHY is all set to set new standards in the dynamic middle market while continuing to cater to the unique needs of each client.
There’s a palpable buzz around town as Farmington Hills witnesses this promising development. Here’s to the future of UHY—and the wonderful journey that lies ahead!
For additional information about UHY and the services they offer, be sure to visit their website!
