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UHY Announces Growth Investment from Summit Partners to Drive Expansion
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Subscribe19 DEC 2024 / PEOPLE UPDATES
UHY Announces Growth Investment from Summit Partners to Drive Expansion
Farmington Hills, Mich.-based firm UHY LLP (FY23 net revenue: $346.6 million) has secured a growth investment from Summit Partners, a global growth equity firm. This partnership will fuel UHY’s continued expansion across team development, technological advancements, and client service offerings, while accelerating both organic and acquisition-driven growth.
Strategic Milestone in UHY’s Growth Journey
This investment marks UHY’s first institutional capital injection and represents a significant milestone in the firm’s evolution. Over the past four years, UHY has completed 15 strategic acquisitions, expanding its global network and solidifying its position as a leading provider of accounting, tax, consulting, and advisory services. Today, UHY operates nearly 40 offices with over 1,800 professionals across the United States and globally through its network, UHY International, which spans 96 countries.
“This partnership marks the beginning of a new and expanded era of growth for UHY,” said Steve McCarty, CEO of UHY. “Together with Summit, we are focused on scaling our impact, continuing to deliver top-tier services to our clients, and setting new industry standards in the dynamic middle market.”
Focus on Client Growth and Service Excellence
UHY serves a wide range of clients, from closely held middle-market companies to Fortune 500 firms. The firm has built a strong reputation for delivering customized, high-quality solutions that cater to the unique needs of each business. The investment from Summit Partners will provide the capital needed to accelerate UHY’s growth strategy, deepen relationships with existing clients, and enhance operational capabilities across its various service areas.
“UHY has built a strong market position on a foundation of client service and innovation,” said Paul Furer, a partner at Summit who has joined UHY’s Board of Directors. “We are excited to collaborate with UHY’s leadership to support the firm’s continued expansion and drive profitable growth."
A Culture of Excellence
“UHY’s consistent ranking as best-in-class for service quality and client satisfaction is a testament to our team’s dedication and culture of excellence,” McCarty added. “We look forward to building on this legacy and continuing our journey toward becoming an even stronger industry leader."
About UHY
Founded in 2000, UHY is a prominent professional services firm specializing in accounting, tax, consulting, and advisory services. With a focus on the dynamic middle market, UHY provides innovative solutions that help clients navigate challenges across a range of industries. The firm is part of the UHY International network, a group of independent accounting and consulting firms operating in 96 countries.
About Summit Partners
Summit Partners, established in 1984, is a growth-focused investment firm that has invested in over 550 companies across various sectors, including technology, healthcare, and other high-growth industries. Summit’s expertise lies in scaling category-leading companies, with a strong track record of successful public equity offerings and strategic acquisitions.
Terms of the Investment
The terms of the transaction have not been disclosed.
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