M&A roundup: BPM and JLK Rosenberger expand

BPM LLP, a Top 40 Firm based in San Francisco, said Thursday it has combined with O&S CPAs and Business Advisors, a firm in Long Beach, California, effective Jan. 1. 

BPM already has an office in Long Beach, and the merger will expand the firm's presence in the region and its Southern California client base.

BPM has done a series of mergers since 2020 with firms in Southern California, including Orange County, Long Beach and Santa Monica. The firm also, formerly known as Burr Pilger Mayer, has offices in Oregon, Washington State and India

Financial terms of the deal were not disclosed. BPM ranked No, 38 on Accounting Today's 2022 list of the Top 100 Firms, with $166.3 million in annual revenue. The firm has over 70 partners and 1,000 employees.  

"BPM and O&S share a mutual commitment to offering clients a blend of expertise and personal service, and the firm strongly aligns with BPM's culture, summarized best by our brand promise, 'Because People Matter,'" said BPM CEO Jim Wallace in a statement Thursday. "We are excited to welcome the O&S team. This strategic combination will deepen and expand our relationships in the Long Beach community as we establish BPM as the premier firm across the Southern California region."

O&S, formerly known as Onisko & Scholz LLP, has been operating for over 25 years and has clients in Los Angeles, Orange, Riverside and San Bernardino counties. The firm provides tax, accounting, advisory and forensic accounting services, mainly to closely held businesses and nonprofits. 

"Through this combination, we will be able to offer expanded opportunities and services to our clients and team members, on top of gaining access to BPM's impressive resources and elite teams of professionals," said O&S managing partner Cynthia Schoelen in a statement. "Like the team at O&S, BPM is a mission-driven firm focused on helping people and organizations be successful in work and life. We are excited to combine with BPM to deliver exceptional experiences for our clients through delivering diverse perspectives, expansive expertise and progressive solutions throughout the region."

This is BPM's third M&A deal in the past six months, after recent combinations with Elliott CPA Group in Santa Rosa and Avaunt in Sacramento, California. In 2021, in probably its biggest deal, BPM merged in Gumbiner Savett, which was based in Santa Monica. In 2020, BPM added Rossi LLP, a firm in Long Beach, California, NetSuite reseller Caravel Partners and Warnick, Maestas & Maroney, a firm in Irvine, California.

JLK Rosenberger LLP, a firm with offices in Irvine and Glendale, California and Dallas, Texas, recently expanded its presence in California by merging in Mark F. Wille's CPA practice in Newport Beach, effective Nov. 1.

"Mark and his staff have a long history serving the local community, and we're delighted to have them join our team," said JLK Rosenberger managing partner Mike French in a statement Wednesday. "The combined expertise of our two firms, along with JLK Rosenberger's membership in PKF International, provides clients with the knowledge and resources of a national and global network while still providing the personal touch of a local firm."

Financial terms were not disclosed. Rosenberger has been in business for over 48 years and specializes in insurance industry clients. Wille's firm has been operating for over 30 years, advising developers, bankers, and the real estate, mortgage, construction and service industries. Wille also has been a featured educational speaker on different subjects for the California Society of CPAs.

"We joined JLK Rosenberger because they care about their clients," Wille said in a statement. "They treat each client according to their individual needs. This matched our practice model, and with their combined resources, it was the perfect fit."