M&A roundup: Deals in Georgia, Indiana and Iowa

Published January 31, 2019 1:40 PM

Updated July 29, 2019 2:29 PM

1 Min Read

Hancock Askew merges in McElderry & Associates; Brady Ware combines with Rodefeld Kassens & North; and NPL Tax & Accounting adds Beverly Hunt’s Tax & Accounting Service.

GEORGIA: Hancock Askew merges in McElderry & Associates

Details: Hancock Askew & Co. LLP, a regional firm based in Savannah, Georgia, is adding McElderry and Associates LLC, a local tax and accounting firm.

After the merger, Hancock Askew will have two offices in Atlanta, along with offices in Augusta, Savannah, Miami and Tampa. As part of the deal, McElderry and Associates managing director John McElderry and his team are joining Hancock Askew.

Financial terms were not disclosed. “Hancock Askew & Co. completed a merger of the Brand Tax Group in Tampa, Florida, in November 2018 and now the McElderry and Associates team adds on to our Atlanta team with the opening of a second Atlanta office in January 2019,” said Hancock Askew managing partner Michael McCarthy. “Together we are a firm of 150 people with revenues approaching $20 million. We are excited about our future.”

Hancock Askew ranked 20th on Accounting Today’s 2018 Regional Leaders list for the Top Firms in the Southeast, with $14.47 million in annual revenue before both mergers.

Hancock Askew and McElderry & Associates have similar client bases and plan to further expand their tax, accounting, and consulting services to Greater Atlanta and the surrounding areas. Hancock Askew’s origins date back to 1910 and the firm is an independent member of the BDO Alliance USA.

McElderry & Associates specializes in tax, financial accounting, management consulting and QuickBooks services for clients such as high net worth individuals, real estate firms, restaurants, and medical and dental practices.

“My team is excited for the opportunity to provide additional services and work with professionals in various specialties, while ensuring we maintain excellence in customer service and quality of work," said McElderry.

Russell Reece, Atlanta office managing partner at Hancock Askew, said the addition of McElderry and his team to his firm’s Atlanta footprint “falls in line with our strategic plans to continue to grow and expand our services for businesses and individuals in the region.”

INDIANA: Brady Ware combines with Rodefeld Kassens & North

Details: Brady Ware & Company, a firm based in Dayton, Ohio, has added Rodefeld Kassens & North LLP, a firm based in Richmond, Indiana, effective Jan. 1, 2019.

The combination will supplement Brady Ware's existing tax, audit and consulting practice in Richmond. The RKN staff will be moving to Brady Ware’s offices in Richmond, which will now operate under the name Brady Ware RKN.

Financial terms of the deal were not disclosed.

“Combining our practices allows us to significantly increase the capabilities and resources we offer our clients,” said Brady Ware director Jeff Jackson in a statement. “We’re excited to welcome our new team members and look forward to growing together as we further expand our presence in Richmond.”

Brady Ware dates back to the early 1960s when Luke Ware established his practice in Richmond after beginning his career in the Dayton area. “Bud” Brady joined him in the 1970s to form Brady Ware, which now has offices in Ohio, Indiana and Georgia.

Rodefeld Kassens & North provides tax, audit, and business advisory services to professional services firms, manufacturing businesses, real estate firms, technology companies, nonprofits and other types of clients.

"We’re confident that joining forces with Brady Ware will provide our current clients with a broader range of services,” said RKN partner Mark Kassens in a statement. “We're also excited to offer our expertise to new clients throughout Brady Ware’s markets.”

IOWA: NPL Tax & Accounting adds Hunt’s Tax & Accounting Service

Details: NPL Tax & Accounting LLC has merged in Beverly R. Hunt’s Tax & Accounting Service in Muscatine, Iowa.

Financial terms were not disclosed. Hunt and her staff will remain at their current offices for the rest of tax season, and then will relocate to NPL’s existing offices in Muscatine this summer, where tax attorney Nepple Law PLC is also located, according to a local website, Voice of Muscatine.

The firm specializes in tax preparation, bookkeeping, accounting, financial statement preparation and payroll services. Hunt will be managing the office in Muscatine with NPL tax manager Hope Robbins.

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