Smart Devine, a Philadelphia-based accounting, tax and advisory firm, has acquired EAC Valuations LLC, an appraisal and valuations firm based in Wayne, Pa.
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The combined firm will include more than 75 accounting and consulting professionals working out of Smart Devine’s Philadelphia offices. Financial terms were not disclosed. EAC Valuations earns approximately $1 million in annual revenue. Nine employees from EAC will be joining the combined firm.
“Smart Devine welcomes this team of exceptional professionals to our Philadelphia office and valuation practice," said Smart Devine CEO James Smart in a statement. "For more than 40 years, EAC Valuations has been known for its integrity and expertise in the Philadelphia region and beyond. We are excited to combine our two organizations of highly experienced professionals and are confident that this talent and an increased presence in Philadelphia and beyond will establish a platform for continued growth in this market.”
EAC , which stands for Enterprise Appraisal Company, has provided in-depth appraisals and valuation reports since 1971, completing more than 10,000 appraisals for clients large and small.
“We are pleased to be joining an excellent firm such as Smart Devine and the opportunity it presents to grow our practice and provide appraisal and valuation services to more businesses in the Philadelphia area and around the world,” said EAC Valuations president Frank Merenda in a statement.