Top 100 Firm Doeren Mayhew
With Audax's capital investment, Doeren Mayhew is looking to expand its geographic footprint through continued acquisitions, in addition to enhancing its service offerings, technology infrastructure, and overall employee and client experience. The firm's current leadership will remain and continue to manage operations.
Terms of the transaction, expected to close in September, were not disclosed.
"The accounting profession is transforming at a rapid pace. Continuing to be a leader that can drive client value and present more attractive employee opportunities requires us to pave a path forward to evolve quickly," Chad Anschuetz, chairman and managing shareholder at Doeren Mayhew, said in a statement. "We believe Audax is the right strategic partner to help us achieve that and keep the Doeren Mayhew legacy alive. They bring the experience, resources, and a proven track record in the financial services sector that we're confident will position us to execute our strategic initiatives focused on client and employee success."
The firm will operate under an alternative practice structure, as is common with PE transactions. Its entities, including Doeren Mayhew Assurance and Doeren Mayhew Advisors, and their subsidiaries will continue under the brand name Doeren Mayhew.
This announcement is the latest in a string of large accounting firms taking on private equity money and outside investments, starting in August 2021 when Top 25 Firm
