Yount, Hyde and Barbour, a firm in Winchester, Virginia, is acquiring Woodcock & Associates, PC in Fredericksburg, Virginia, bolstering YHB’s construction industry expertise.
The combination is part of YHB’s strategic strengthening of its major industry niches. “Woodcock & Associates has been an invaluable resource to clients in the construction industry since its founding,” said YHB managing partner Scott Moulden in a statement Friday. “We expect the Woodcock team’s capabilities to enhance our already rapidly expanding construction industry niche.”
The deal will add two partners and 12 professional staff to YHB, which has 30 partners and 170 staff members. YHB ranked 13th on Accounting Today’s 2019 list of Regional Leaders for the Top Firms in the Capital Region. Financial terms were not disclosed. YHB had $27.9 million in annual revenue, and Woodcock had $1.8 million in annual revenue. The merger will make Woodcock's Fredericksburg office YHB's eighth location in Virginia.
Since 2000, Woodcock & Associates has provided construction industry expertise across the Greater Washington-Richmond corridor. Its services include assurance, management advisory and outsourced CFO services.
“Both YHB and Woodcock have had a friendly relationship for many years,” said Woodcock & Associates managing partner and president Jeanette Woodcock in a statement. “We knew the quality of work and relational approach they took to delivering client service. In addition, YHB has a large multi-regional presence with offices spread throughout, allowing us access to new markets. This provides our team with additional resources and specializations, which we see as a huge combined strength from the merger.”
