Weaver, a Texas-based independent certified public accounting firm, recently announced its merger with Elms Faris, effective June 1. The merger marks Weaver’s first expansion into the Midland/Odessa market.
Initially established in Midland in 1938 by George H. Marsh, Elms, Faris & Company, LLP, is one of the oldest and largest locally-owned CPA and consulting firms in the Permian Basin, and has been led, since 1999, by Larry Edgerton, CPA, managing partner, according to the companies.
The firm provides assurance, tax, estate planning, information technology consulting, business valuation, management consulting, and transaction advisory services. Industries for which the firm provides these services include oil and gas, construction, manufacturing, wholesale-distribution, not-for-profit, health care, and state and local government.
“As a firm that serves businesses with interests throughout Texas, we are very excited about this merger,” said Tommy D. Lawler, Weaver’s managing partner and CEO. “Having a presence in Midland/Odessa allows us to further our state-wide expansion. Merging with Elms Faris will not only build our footprint and revenue, but it will also increase the depth of our niche practices, including oil and gas, manufacturing and distribution, and state and local government.”
Edgerton has been named the Midland/Odessa executive partner. All of the firm’s 53 employees, including 39 accountants and consultants, and 6 partners, will join the combined firm, which will use the Weaver name.
“Our clients will benefit from the added depth and resource base this merger provides,” said Edgerton. “We will be better positioned to serve growing businesses throughout this region of the state and continue to build upon the close, enduring relationships we have with our current clients.”
The merged firm will remain in its current offices at 400 W. Illinois, Suite 1550, Midland, and 700 N. Grant, Suite 800, Odessa.
Originally founded in 1950 as Weaver and Tidwell, L.L.P., the firm, now operating and doing business as Weaver, employs approximately 400 employees, including more than 320 accountants and professional staff. With offices in Austin, Dallas, Fort Worth, Houston, San Antonio, Midland, and Odessa, Weaver is ranked the largest independent certified public accounting firm in the Southwest by Accounting Today magazine and the 49th largest firm in the United States.
The firm represents a broad range of clients including large national and international corporations, publicly and privately held businesses, nonprofit organizations, and government entities. In addition to the firm’s audit, accounting, and tax services, its accountants and consultants practice in the areas of business valuation, estate planning/wealth transfer, forensic accounting, international services, property tax, risk advisory services, state and local tax, and transaction advisory services. It also performs peer reviews for other accounting firms. In addition, Weaver provides registered investment advisory services through Weaver Wealth Management.