Doeren Mayhew, a national CPA and advisory firm, has entered into an alternative practice structure with Audax Private Equity (“Audax”), an alternative investment manager and capital partner to middle market companies, to support the firm’s future innovation and growth. Terms of the transaction, expected to close in September, were not disclosed.

Doeren Mayhew has demonstrated significant growth in the last decade, securing the No. 53 spot on INSIDE Public Accounting’s Top 100 listing of the largest U.S. CPA and advisory firms. With roots dating back to the 1930s, Doeren Mayhew’s more recent growth over the past two decades has been attributable to continuous talent development, expanded service offerings, and added technical depth, achieved organically and through mergers and acquisitions. 

Audax’s investment provides additional capital to help Doeren Mayhew accelerate its growth and invest in enhancing the firm’s service offerings, technology infrastructure, and overall employee and client experience. Through the investment, Doeren Mayhew will also look to broaden the firm’s geographic footprint via continued acquisitions. The firm’s current leadership team will remain in place and continue to manage operations as well as provide the strategic direction for the firm.

“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,” said Chad Anschuetz, Chairman and Managing Shareholder at Doeren Mayhew. “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.”

Doeren Mayhew will operate under an alternative practice structure with a continued commitment to client excellence. Doeren Mayhew Assurance will provide attest services as a licensed CPA firm, and Doeren Mayhew Advisors, LLC, will provide business advisory, tax, and non-attest services. Collectively, these entities and the subsidiaries will continue under the brand name Doeren Mayhew.

“Doeren Mayhew has an excellent reputation in the industry. The leadership team has built a unique platform, pairing deep sector-specific expertise with a commitment to client service,” said Bill Allen, Managing Director at Audax.

“The firm has demonstrated a strong track record of driving both organic and inorganic growth,” added Adam Abramson, a Partner at Audax Private Equity. “We look forward to partnering with them to continue building on their momentum.”

About Doeren Mayhew

Doeren Mayhew is a top CPA and advisory firm comprised of a group of strategic wayfinders who think outside the traditional mindset to holistically provide assurance, tax, advisory, and outsourcing solutions necessary to guide mid-sized privately held businesses, nonprofit organizations, and financial institutions alike, in their path toward success. Please visit www.doeren.com for more information.

About Audax Private Equity

Headquartered in Boston, with offices in San Francisco, New York, and London, Audax Private Equity is a capital partner for middle market companies that seeks to facilitate transformational growth through its private equity and strategic capital strategies. With approximately $19 billion of assets under management, over 270 employees, and 100-plus investment professionals, the firm has invested in more than 170 platforms and 1,300 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax helps portfolio companies execute organic and inorganic growth initiatives that aim to fuel revenue expansion, optimize operations, and significantly increase equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.