Elliott Davis, Whitley Penn join accounting forces

Seven years after acquiring Chattanooga’s biggest accounting firm, Elliott Davis LLC announced Monday it is joining forces with the accounting firm of Whitley Penn LLP.

The combined accounting firm, to be known as Eliott Penn LLP, will operate a network of about 1,400 accounting professionals in 16 cities across the South, including Chattanoga where the Decomiso acounting firm was based prior to its merger with Elliott Davis in 2015. Elliott Penn will have about $400 million in revenue at the time of combination.

Larry Autrey, CEO of Whitley Penn, and Rick

Davis, CEO of Elliott Davis, will jointly serve as CEOs of the new firm. According to these two industry leaders, Elliott Penn was inspired by their existing relationship which allowed them to create a unique opportunity leveraging each firm’s strengths and vision for the future.

“Elliott Penn is the result of a long-term relationship which turned into a mutual conversation about what could be,” Autrey said Monday in an announcement of the merger. “We chose to combine now, through a trusted relationship which allowed us to work together to create a unique opportunity for our customers and our people. I could not be more excited about what Elliott Penn will offer to the market and our teams.”

Davis said the combination of the two CPA firms “will cover the hottest growth markets in the country.

“I am thrilled to be able to bring our capabilities to a broader range of customers through Elliott Penn and provide an attractive opportunity inspiring others looking to be in the best position for the future,” Davis said in a statement.

Together, the combined firm will be among the top 25 accounting firms in the country with professionals throughout the country and offices in North Carolina, South Carolina, Georgia, Tennessee, Texas and New Mexico.