UHY in Farmington Hills Receives Growth Investment from Summit Partners

UHY, a leading accounting, tax, consulting, and advisory services firm headquartered in Farmington Hills, today announced a growth investment from Summit Partners, a growth-focused investment firm based in Boston. Terms of the deal were not disclosed.

The investment will support the continued expansion of UHY’s team, technology, and client service offerings, while helping to accelerate both organic and acquisition-driven growth. The funding represents UHY’s first institutional capital.

Established in 2000, UHY serves a client base ranging from closely held middle-market companies to Fortune 500 firms, and provides 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 more than 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,” says 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” 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 U.K. company, and form part of the international UHY network of legally independent accounting and consulting firms.

“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,” says 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.”

For more information, visit uhy-us.com.

Summit Partners invests across growth sectors of the economy and, since the firm’s founding in 1984, has invested in more than 550 companies in technology, health care, and 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, visit summitpartners.com.