M&A roundup: Mauldin & Jenkins, Ascend and Crete expand

Mauldin & Jenkins merged in LaPorte CPAs & Business Advisors; Ascend's TSS Advisors added John G. Burk & Associates; Ascend's Walter Shuffain Advisors integrated Richardson & Co.; Cross Financial joined Crete Professionals Alliance.

Mauldin & Jenkins merges in LaPorte CPAs & Business Advisors

Hanson Borders

Mauldin & Jenkins, a Top 75 Firm based in Atlanta, is expanding into Texas and Louisiana through a merger with LaPorte CPAs & Business Advisors, based in Metairie, Louisiana, effective Dec. 1.

The deal will add LaPorte's 178 professionals, including 38 partners, and five office locations across the South Central U.S., effective immediately to M&J. The merger will increase M&J's total number of professionals to over 750 across 19 offices. The combined firm will operate under the Mauldin & Jenkins name, extending M&J's presence to New Orleans, Baton Rouge, Covington, and Houma, Louisiana, along with Houston.

Financial terms of the deal were not disclosed. M&J ranked No. 65 on Accounting Today's 2025 list of the Top 100 Firms, with $120 million in annual revenue, 507 staff members and 82 partners for a total of 589 people. LaPorte ranked No. 11 on Accounting Today's Regional Leaders list of the Top Firms on the Gulf Coast, with $36.2 million in revenue, 140 staff members and 38 partners; for a total of 178 people. MJ has 14 offices while LaPorte has five.

LaPorte was founded in 1946. "This merger not only increases our reach into new dynamic markets; it is an enhancement of the expertise we bring to every client relationship," said Mauldin & Jenkins managing partner Hanson Borders in a statement Thursday. "LaPorte has a rich 80-year legacy of quality service, excellence and commitment to its people and its clients, as well as a value system that aligns perfectly with ours. This means increased access to specialized knowledge in complex assurance, tax, and advisory matters, as well as a broader suite of comprehensive services to support all aspects of our clients' business and personal financial goals in Louisiana and Texas."

LaPorte president Eric Bosch will join M&J as regional market leader. "Joining Mauldin & Jenkins provides our clients with immediate access to national-firm resources and greater depth of specialization, all while maintaining the personalized, local service they have always relied upon," he said in a statement. "Our professionals will continue to work directly with the clients they serve, simply backed by the strength of a Top 100 firm. This is a clear win for our clients and our people."

Earlier this year, M&J added Bradshaw, Gordon & Clinkscales in Greenville, South Carolina. Last year, M&J added CFO Navigator, a firm that offers financial guidance to businesses and nonprofit organizations in the Atlanta area. In 2021, M&J expanded in Alabama by adding CDPA PC, a firm with offices in Athens, Florence and Huntsville, effective July 1. In 2020, M&J expanded to Sarasota, Florida, by acquiring Plush Smith. It acquired another firm in Florida, Jon Campbell & Associates, in 2019.

Ascend’s TSS Advisors adds John G. Burk & Associates; Walter Shuffain Advisors integrates Richardson

Nishaad Ruparel

Two firms that are part of private equity-backed Ascend's accounting platform announced M&A deals Thursday. TSS Advisors of Lebanon, New Hampshire, merged in John G. Burk & Associates in Keene, New Hampshire. Walter Shuffain Advisors Inc. in Boston added Richardson & Co. PC, based in Medway, Massachusetts. Both deals took effect Nov. 1.

Financial terms of the deals were not disclosed. John G. Burk CPAs earned annual revenue: of $5.5 million and has two partners and 17 staff members. Its two offices in Keene and Manchester, New Hampshire will expand TSS's footprint to three locations across New Hampshire. Richardson & Co. also earned $5.5 million in revenue and has three partners and 13 staff members. The addition of its one office in Medway, Massachusetts, will expand Walter Shuffain's footprint to three locations in the Greater Boston region.

Ascend was formed in January 2023 by private equity firm Alpine Investors, and since then has added a number of regional firms with between $15 million and $50 million in revenue to its platform. Ascend ranked No. 29 on Accounting Today's 2025 list of the Top 100 Firms, with $314.74 million in annual revenue.

A recent survey of 304 accountants by Accounting Today found that approximately half of their firms have been contacted by PE firms and 45% have reached out themselves. Bigger firms are more likely to have been contacted by PE firms.

"Over the course of their careers, John Burk and Steve Richardson built firms with reputations for their trusted advice, familial cultures, and attentive presence in the local business community," said Ascend president Nishaad Ruparel in a statement Thursday. "Each now a steward of their firm's next chapter, John and Steve have opted to double-down on their regional focus by partnering with TSS and Walter Shuffain, respectively. I am proud that Ascend partner firms have come to represent a unique option for firm leaders like John and Steve – an ability to lock-in their middle-market client strategy, embed into an enduring regional workplace, and surround their clients and people with large-firm resources that create a more rewarding relationship for all,"

TSS is one of the biggest professional advisory firms in the Upper Connecticut River Valley. "John, Jason and their amazing Burk team have built an incredible legacy of trust, integrity, and client care over the years," said TSS CEO James Godfrey in a statement. "We are honored to carry that legacy forward together. Our shared values and combined expertise align perfectly and will allow us to continue providing the personalized service our clients expect, with expanded resources and reach."

Walter Shuffain has been recognized as one of Accounting Today's Best Firms to Work For in 2024 and ranked No. 8 on Accounting Today's Regional Leaders list of the Top Firms in New England, with $34.4 million in annual revenue.

"By joining forces with Richardson & Company, we are deepening our investment in delivering white-glove, full-service support that empowers our clients to thrive," said Walter Shuffain CEO Jonathan Yorks in a statement. "Our teams share a common vision: providing clarity and confidence through proactive communication, innovative thinking, and the highest standard of service."

Koltin Consulting Group CEO Allan Koltin advised on the transactions, "Ascend continues to have success with their national growth strategy of acquiring best-in-class firms, and Richardson is another example of that," Koltin said in a statement. "Richardson was courted by many national firms but chose Walter Shuffain and Ascend because of their depth of resources and expertise, both locally and nationally, as well as their culture and vision for the firm of the future."

Ascend added TSS as well as Blackman & Sloop of Chapel Hill, North Carolina, in May 2024 and Walter Shuffain last December. Earlier this month, it added BiggsKofford in Denver and Colorado Springs, Colorado. In September, it acquired KSDT in Miami, its biggest transaction to date. Ascend added two East Coast firms in July: BGW in North Carolina, and Tronconi Segarra & Associates in New York. In June, Ascend added Florida Regional Leader firm Saltmarsh, Cleaveland & Gund, and California-based Glenn Burdette to its platform.

Cross Financial joins Crete Professionals Alliance

Steve Stagner

Crete Professionals Alliance, a Tampa, Florida-based accounting and advisory network, has added Cross Financial, an accounting, advisory and wealth management firm in Portland, Oregon.

Cross Financial is the first wealth management firm in Crete's network. "This partnership represents an exciting new chapter for our firm," said Cross Financial CEO Jay Torgerson in a statement. "By joining Crete Professionals Alliance, we are investing in the future — enhancing the tools and support available to our team while remaining true to the culture, values, and personalized service that have defined our firm for decades."

Cross Financial provides tax, advisory, valuation, litigation support and client accounting services to privately held businesses, nonprofit organizations, and high-net-worth individuals. It will retain its name, team and leadership after joining Crete.

"Cross Financial is a tremendous addition to the Crete family," said Crete CEO Steve Stagner in a statement. "Their expertise in wealth management expands the value we can deliver across our entire network and reflects our commitment to diversifying our portfolio. By adding new capabilities like these, we create more opportunities for organic growth within our firms and deepen the ways we serve our clients' evolving financial needs."

Financial terms of the deal were not disclosed. Crete ranked No. 36 on Accounting Today's 2025 list of the Top 100 Firms, with $233.8 million in revenue, approximately 93 partners and 900 employees.

Earlier this month, Crete added Acuity, based in Honolulu as the 30th firm in its network. In August, Crete added Cabrillo Advisors, a San Diego, California-based provider of valuation and financial advisory services. Earlier this year, Crete was named one of the 25 Fastest-Growing Firms by Accounting Today and announced plans to spend $500 million to buy firms while upgrading them with artificial intelligence technology. Last year, Crete added Reid Tax & Advisory Services LLC, a firm with offices in Long Island, New York City, and Boca Raton, Florida. Other firms that have joined since 2023 include RRBB Accountants and Advisors in Somerset, New Jersey; Mendonca Partners in Union, New Jersey; Skwiersky, Alpert & Bressler LLP in New York City; AbitOs in Coral Gables, Florida; and Savastano, Kaufman & Co. in Fair Lawn, New Jersey.

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