BPM combined with Fair, Anderson & Langerman; and Suttle & Stalnaker merged in Somerville & Co.
M&A roundup: BPM expands, and more
July 6, 2023 2:10 PM
BPM combines with Fair, Anderson & Langerman
Courtesy of BPM LLP
Fair, Anderson & Langerman specializes in serving clients in the manufacturing, food and beverage, and real estate construction and development sectors. Financial terms of the deal were not disclosed. BPM, formerly known as Burr Pilger Mayer, ranked No. 33 on Accounting Today's 2023 list of the Top 100 Firms. BPM earned approximately $250 million in revenue last year and has over 1,200 employees, including 76 partners. FAL earned approximately $7 million in fees and has 31 people, including 28 staff members and three partners, joining BPM. After the combination, BPM's total revenue from the combined Las Vegas office, where it already has an established practice, will be approximately $12 million.
"As we expand our presence in the region, we found FAL to be very well aligned with our culture and Because People Matter brand promise," said BPM CEO Jim Wallace in a statement Thursday. "We also share an unwavering dedication to providing our clients with innovative solutions and exceptional experiences. We look forward to welcoming the talented team from FAL to BPM and are excited to build lasting relationships in the local community."
FAL has been operating in Las Vegas for 35 years. After the combination takes effect, FAL will rebrand and operate under the BPM name. The expanded Las Vegas office will be complemented by BPM's 16 offices spanning California, Oregon, Washington and India, supported by specialized professionals around the world.
"We believe that businesses in Las Vegas deserve sophisticated financial services that cater to their unique needs," said founding partner Curt Anderson in a statement. "Combining with BPM will grant us access to an extensive network of resources that will elevate the level of support we can provide our clients without losing our concierge approach to client service. We are excited to embark on this new chapter, where shared values and a commitment to excellence will pave the way for success."
The deal follows a series of successful combinations, including the most recent addition in March of the Las Vegas-based RiMo Consulting team. In January, BPM added
Koltin Consulting Group CEO Allan D. Koltin advised both BPM and FAL on their merger. "BPM continues on its magical journey of finding best-in-class CPA and advisory firms to combine with," he said in a statement. "FAL is one of the preeminent firms in the greater Las Vegas market and was sought after by many suitors. In the end, FAL chose BPM based on the culture and strategic fit as well as the tremendous growth opportunities for their people."
Suttle & Stalnaker merges in Somerville & Co.
Suttle & Stalnaker, West Virginia's largest locally owned CPA firm, is adding Huntington-based Somerville & Co. PLLC, effective Aug. 1, 2023.
"Our goal at Suttle & Stalnaker is to drive prosperity for West Virginia," said managing partner Patricia Clark in a statement last week. "We recognize that achieving this means growing our service offerings, providing a place for our best and brightest to work in the accounting industry, and being engaged with our communities. By teaming up with Somerville & Company, we are aligning ourselves with a like-minded organization that is dedicated to contributing to the growth and prosperity of Huntington and the Tri-State area."
Financial terms were not disclosed. As part of the deal, Suttle & Stalnaker will welcome Barry Burgess, Mendy Aluise, Wade Newell, and Alex Gawthrop as partners in the Huntington office, along with the rest of Somerville's staff.
"We are confident that our partners and staff will only help strengthen and further our collective goal in helping West Virginia prosper," said Burgess in a statement.
Suttle & Stalnaker has offices in Charleston, Parkersburg, Morgantown and Huntington, West Virginia. The firm was founded in 1973 and provides tax, audit, accounting, and consulting services.
Somerville & Co. was founded in 1932 and offers accounting, auditing, tax compliance, management advisory services, gift and estate planning, technology consulting, litigation support and medical practice consulting services.
"Our goal at Suttle & Stalnaker is to drive prosperity for West Virginia," said managing partner Patricia Clark in a statement last week. "We recognize that achieving this means growing our service offerings, providing a place for our best and brightest to work in the accounting industry, and being engaged with our communities. By teaming up with Somerville & Company, we are aligning ourselves with a like-minded organization that is dedicated to contributing to the growth and prosperity of Huntington and the Tri-State area."
Financial terms were not disclosed. As part of the deal, Suttle & Stalnaker will welcome Barry Burgess, Mendy Aluise, Wade Newell, and Alex Gawthrop as partners in the Huntington office, along with the rest of Somerville's staff.
"We are confident that our partners and staff will only help strengthen and further our collective goal in helping West Virginia prosper," said Burgess in a statement.
Suttle & Stalnaker has offices in Charleston, Parkersburg, Morgantown and Huntington, West Virginia. The firm was founded in 1973 and provides tax, audit, accounting, and consulting services.
Somerville & Co. was founded in 1932 and offers accounting, auditing, tax compliance, management advisory services, gift and estate planning, technology consulting, litigation support and medical practice consulting services.
