Julia Chirkova
Farmington Hills, MI-based UHY, a leading national accounting and advisory firm, has significantly bolstered its presence in Iowa through the strategic acquisition of Bettendorf-based CPA firm Anderson, Lower, Whitlow PC. This move marks a pivotal moment in UHY’s aggressive growth trajectory, further solidifying its commitment to serving the burgeoning economic landscape of the Midwest. While the specific financial terms of the transaction were not disclosed, the integration brings the esteemed team of Anderson, Lower, Whitlow, including its shareholders and founders Barry Anderson, Donald Lower, Todd Whitlow, and shareholder Matthew Brumfield, under the UHY umbrella.
This acquisition represents UHY’s fifth strategic merger and acquisition (M&A) in the current year, 2026, underscoring a deliberate and robust expansion strategy. Earlier in the year, UHY announced similar integrations with RBT CPAs, Larson Tax Partners, CMJ LLP, and Manley Garvin, demonstrating a consistent focus on broadening its service offerings and geographic reach. The firm’s accelerated M&A activity is notably supported by a substantial injection of private equity funding secured in late 2024 from Boston-based investment firm Summit Partners, a move that has clearly empowered UHY to pursue significant growth opportunities across the nation.
The addition of Anderson, Lower, Whitlow PC not only enhances UHY’s existing Iowa operations in Ames and Des Moines but also strategically positions the firm to cater to the specific needs of businesses in the Quad Cities region. Nationally, UHY is a formidable presence, employing over 2,000 dedicated professionals distributed across more than 40 offices throughout the United States. This broad network allows UHY to leverage a diverse range of expertise and resources to benefit its expanding client base.
Founded in 1992, Anderson, Lower, Whitlow PC has cultivated a strong reputation for delivering comprehensive accounting and financial services. Their expertise spans a wide spectrum, from essential tax compliance and foundational accounting services to more complex offerings such as in-depth audits of financial statements, specialized business tax planning, and strategic financial planning. This comprehensive service portfolio aligns seamlessly with UHY’s commitment to providing holistic solutions for its clients.
Strategic Rationale: Tapping into Iowa’s Economic Dynamism
Steven McCarty, Chairman and CEO of UHY, articulated the strategic importance of this expansion, highlighting the fertile ground Iowa presents for the firm’s continued development. "Iowa has a rich history in the manufacturing and agriculture space, two industries where UHY has deep expertise," McCarty stated on August 3rd. "The region, particularly spurred by rapid growth in cities like Bettendorf, is diversifying quickly. This diversification is creating a growing demand for trusted, full-service accounting support."
McCarty further emphasized the alignment between UHY’s growth objectives and the economic trajectory of Iowa. "The region’s rapid growth makes it an ideal market for UHY to expand our footprint, strengthen client relationships, and deliver even greater value to businesses in the region," he added. This statement underscores UHY’s forward-looking approach, identifying markets ripe for expansion and aligning its services with prevailing economic trends.
A Synergistic Partnership: Enhanced Capabilities and Client Benefits
Donald Lower, a key figure at Anderson, Lower, Whitlow PC, expressed optimism about the integration, emphasizing the benefits for both clients and the firm’s team. "Joining UHY provides our clients with greater access to national resources and specialized expertise while creating exciting new opportunities for our team," Lower commented. He further elaborated on the synergistic advantages: "This combination allows us to expand our services, enhance our capabilities, and continue delivering the personalized guidance our clients value. It’s a win-win for everyone."
Matthew Brumfield, another shareholder at Anderson, Lower, Whitlow PC, underscored the shared understanding of the local market that this merger fosters. "Just as importantly, this collaboration brings together teams who deeply understand the Iowa market and its impact on the national economy," Brumfield noted. This sentiment highlights the value of local expertise combined with national reach, a powerful combination for clients operating in an increasingly interconnected global economy.
UHY’s Growth Trajectory: A Pattern of Strategic Expansion
The acquisition of Anderson, Lower, Whitlow PC is not an isolated event but rather a testament to UHY’s meticulously planned expansion strategy. The firm’s robust M&A pipeline in 2026 is indicative of a broader ambition to consolidate its position as a top-tier accounting and advisory firm.
Chronology of UHY’s 2026 M&A Activity:
- Early 2026: UHY announces acquisition of RBT CPAs, expanding its service offerings and geographic footprint in key markets.
- Mid-2026: The firm integrates Larson Tax Partners, further strengthening its tax advisory capabilities.
- Late Mid-2026: CMJ LLP joins UHY, contributing specialized expertise and market penetration.
- Ongoing (Summer/Fall 2026): Acquisition of Manley Garvin solidifies UHY’s presence in another strategic region.
- Late 2026: The integration of Anderson, Lower, Whitlow PC in Iowa marks the fifth significant M&A transaction for the year, capping a period of accelerated growth.
This consistent activity suggests a proactive approach to market consolidation and a commitment to achieving scale while maintaining a client-centric focus. The firm’s ability to successfully integrate multiple entities points to strong internal management and a clear strategic vision.
The Impact of Private Equity Investment
The backing of Summit Partners, a prominent investment firm, has undoubtedly played a crucial role in enabling UHY’s aggressive expansion. Summit Partners’ investment in late 2024 provided UHY with the necessary capital to pursue strategic acquisitions, invest in technology, and enhance its service delivery capabilities. This type of private equity involvement is becoming increasingly common in the accounting industry, as firms seek to accelerate growth, gain market share, and offer a wider array of specialized services.
Summit Partners typically invests in companies with strong management teams and significant growth potential, aiming to support their expansion and operational improvements. For UHY, this partnership has unlocked the financial resources to execute a multi-faceted M&A strategy, positioning the firm for continued success in a competitive market.
Deepening Expertise in Key Industries
The strategic rationale behind UHY’s expansion into Iowa is deeply rooted in the state’s economic profile. Iowa is a national leader in agriculture and possesses a significant and growing manufacturing sector. UHY’s stated expertise in these two industries makes the state a natural fit for expansion.
- Agriculture: Iowa consistently ranks among the top states for agricultural production, particularly in corn and soybeans. Businesses in this sector often require specialized accounting, tax, and advisory services related to commodity markets, farm management, succession planning, and agricultural tax credits. UHY’s established expertise in this area can provide significant value to Iowa’s agricultural enterprises.
- Manufacturing: The state’s manufacturing sector is diverse, encompassing areas such as machinery, fabricated metal products, food processing, and advanced manufacturing. These industries often face complex challenges related to supply chain management, cost accounting, international trade, research and development tax incentives, and operational efficiency. UHY’s advisory services can help these manufacturers navigate these complexities and drive growth.
The rapid diversification of Iowa’s economy, as noted by CEO Steven McCarty, presents further opportunities. Emerging sectors and the increasing sophistication of established industries create a demand for advanced financial planning, risk management, and strategic advisory services, areas where UHY excels.
The Future of UHY in Iowa
The integration of Anderson, Lower, Whitlow PC into UHY signifies more than just an increase in office count; it represents a strategic deepening of the firm’s capabilities within a vital economic region. Clients of Anderson, Lower, Whitlow PC can anticipate a seamless transition that brings enhanced access to a national network of specialists, cutting-edge technology, and a broader suite of services. This includes, but is not limited to, international tax, cybersecurity consulting, forensic accounting, and specialized industry consulting, all of which can be leveraged by businesses operating in or looking to expand into Iowa.
For UHY, this move reinforces its position as a significant player in the national accounting landscape. The firm’s consistent M&A activity, coupled with strategic private equity backing, demonstrates a clear ambition to be at the forefront of the industry, offering comprehensive solutions that address the evolving needs of businesses in a dynamic economic environment. The acquisition of Anderson, Lower, Whitlow PC is a key step in this ongoing journey, solidifying UHY’s commitment to serving the growing economic potential of Iowa and the broader Midwest.
The photo accompanying this announcement features Steven McCarty, Chairman and CEO of UHY. McCarty’s leadership has been instrumental in guiding UHY’s strategic expansion, including its recent M&A initiatives. His vision for the firm emphasizes growth through integration, focusing on acquiring firms that complement UHY’s existing strengths and expand its market reach. The collaboration with Anderson, Lower, Whitlow PC is a direct reflection of this strategic approach, aiming to leverage local expertise with national resources to deliver superior client value.
The accounting industry continues to evolve, with consolidation being a significant trend. Firms are increasingly seeking to achieve scale, enhance service offerings, and invest in technology to remain competitive. UHY’s proactive approach to M&A positions it well to navigate these industry shifts and capitalize on emerging opportunities. The expansion into Iowa, with its robust agricultural and manufacturing base, is a strategic move that aligns with UHY’s industry specializations and its broader growth objectives.
