M&A roundup: Frazier & Deeter, THF and Capstone expand

November 5, 2025 4:08 PM

Frazier & Deeter acquired RS&F and Pesta Finnie; Thomas Howell Ferguson P.A. CPAs bought Hamic Previte & Sturwold; and Capstone Accounting and Tax merged in Nissen & Meyer.

Frazier & Deeter acquires RS&F and Pesta Finnie

RS&F offices during a 2019 holiday gift drive

Courtesy of RS&F

Frazier & Deeter, a Top 50 Firm based in Atlanta, has acquired Rosen, Sapperstein & Friedlander in Towson, Maryland, and Pesta Finnie & Associates LLP, headquartered in Charlotte, North Carolina.

The acquisition of RS&F deepens Frazier & Deeter's presence in the Mid-Atlantic region and expands its client base in industries such as real estate, health care, nonprofit, government contracting, construction, manufacturing and technology.

Frazier & Deeter ranked No. 44 on Accounting Today's 2025 list of the Top 100 Firms with $184 million in annual revenue, 63 partners and over 500 employees. RS&F is a Regional Leader firm that ranked No. 13 on Accounting Today's Regional Leaders list of the Top Firms in the Capital Region, with $24 million in annual revenue, 11 partners and over 100 employees. Financial terms of the deals were not disclosed.

"As an Accounting Today Regional Leader, RS&F has earned a stellar reputation for excellence, particularly in the family office and middle-market segments," said Seth McDaniel, managing partner and CEO of Frazier & Deeter, in a statement Wednesday. "The firm's client-centric culture, technical expertise and entrepreneurial leadership align nicely with FD's values and intentional vision for growth."

RS&F will bring a number of specialties to Frazier & Deeter. "We are thrilled to welcome RS&F to the FD team," added Jeremy Jones, COO and incoming managing partner of Frazier & Deeter, in a statement. "The firm's specialization in family office and advisory services, as well as industries like government contracting, health care, real estate and construction, strengthens our collective platform and enhances our ability to serve clients with depth and sophistication."

"Joining FD creates long-term growth opportunities for both our clients and team," said RS&F managing partner Jeffrey Rosen in a statement. "We're excited to bring our strengths and relationships into a firm that shares our commitment to partnership, innovation and differentiated service."

In the months ahead, Frazier & Deeter plans to fully integrate RS&F into FD's operational and support infrastructure, giving clients access to improved technology, specialty tax and audit expertise and expanded advisory services.

Bob Lewis, president of The Visionary Group, consulted with both firms on the transaction. "We would like to congratulate both RS&F CPAs and Frazier & Deeter for the successful combination of these two great firms," he said in a statement. "RS&F brings a deep bench of professionals and a specialization in family office to the Frazier Deeter group. This addition will bring significant value to their client base and referral partners."

Frazier & Deeter also announced another M&A deal this week with Pesta Finnie & Associates, expanding its presence in Charlotte, North Carolina and the broader Carolinas.

Pesta Finnie focuses on serving the middle market, closely held businesses, and family offices.

"For many years, Pesta Finnie has been a trusted name in Charlotte for real estate and tax advisory services," McDaniel said in a statement Tuesday. "Their reputation for excellence and client commitment mirrors our firm's core values. We are excited about this partnership and look forward to investing in Charlotte as part of our long-term growth."

"Welcoming Pesta Finnie expands our presence in the Southeast and adds highly specialized expertise to the suite of services we offer clients," said Jones in a statement. "Equally important, we've found a strong cultural alignment between our firms, especially in how we build client relationships and prioritize investing in our people."

"Joining FD creates long-term opportunities for both our clients and our people," said Don Pesta, retiring founder and managing partner of Pesta Finnie, in a statement. "We are excited to begin this next chapter with a firm that so clearly shares our values and our commitment to trusted, relationship-driven service."

Peter Greve, the incoming Charlotte office managing partner, added: "As Don transitions into retirement at the end of the year, I'm honored to step into this leadership role with Frazier & Deeter. This move positions our team for the future by offering new career opportunities, broader resources, and the strength of a global platform, all while continuing to deliver the same high-quality service our clients expect."

Once the transaction closes, FD plans to fully integrate Pesta Finnie and its 71 employees into its operational and support infrastructure, providing immediate access to firmwide resources such as technology, talent development, finance, marketing, and business development

Frazier & Deeter received an investment in April from General Atlantic, a private equity firm based in New York, splitting it into Frazier & Deeter, LLC, a licensed CPA firm providing assurance services and Frazier & Deeter Advisory LLC, providing non-attest services.

In August, Frazier & Deeter acquired Anglin Reichmann Armstrong, a firm based in Huntsville, Alabama.

Thomas Howell Ferguson P.A. CPAs buys Hamic Previte & Sturwold

Thomas Howell Ferguson P.A. CPAs, based in Tallahassee, Florida, has acquired Hamic Previte & Sturwold, PA, a firm with offices in Lakeland and Dade City, effective Aug. 1, 2025.

THF provides a variety of accounting, auditing and tax services, complemented by comprehensive consulting and advisory services. It currently serves clients across industries such as insurance, government, nonprofit and health care.

The deal adds two additional partners and approximately 20 professionals to THF, which already has 13 partners and over 150 team members. Financial terms of the deal were not disclosed. THF ranked No. 12 on Accounting Today's Regional Leaders list of the Top Firms on the Gulf Coast, with $31.71 million, while HPS had $4 million in revenue. With the addition of HPS, THF is expanding its footprint in Florida to five offices, and extending its presence along the I4 corridor.

With offices in Tallahassee, Tampa, and Panama City, the merger represents a strategic step in THF's continued growth and solidifies its presence in the central part of Florida

"We are excited to welcome the HPS team into our THF family," said THF managing partner Jeff Barbacci in a statement. "Their strong client relationships, local market knowledge and shared commitment to quality and integrity make them a perfect fit as we continue to expand our footprint and services across the state of Florida."

HPS focuses on the accounting, tax and advisory needs of individuals and businesses.

"Our firm has always focused on exceptional service and attention to detail," said HPS partner James Previte in a statement. "Joining THF allows us to maintain that personal touch while also offering our clients access to enhanced resources, a broader range of services and the support of a larger firm."

THF acquired Dowdy & Whittaker CPAs, based in Bainbridge, Georgia, in 2019.

Capstone Accounting and Tax merges in Nissen & Meyer

Capstone Accounting and Tax, based in Bend, Oregon, is adding Nissen & Meyer, based in Redmond, Oregon, strengthening its presence in the central part of the state.

Rick Nissen purchased the firm in 1983 and he was joined by Chuck Meyer in 1986. They have served generations of clients with tax planning, preparation and advisory services. Capstone Accounting and Tax was founded in 2004.

"We are honored to welcome the Nissen & Meyer team to Capstone," said Zachary Harmon, a partner at Capstone Accounting and Tax, in a statement last month. "Their decades of experience, long-standing client relationships, and commitment to quality align perfectly with our values. This partnership allows us to expand our reach while continuing to deliver the local, personalized service clients have come to expect."

The Nissen & Meyer team will continue to operate from its Redmond office.

"This is an exciting new chapter for our team and our clients," Nissen said in a statement. "Joining Capstone ensures our clients will continue to receive the personal attention they value, along with the additional expertise and resources to help them achieve their goals."

Capstone's revenues are approaching $30 million and has over a dozen partners.