M&A roundup: Prager Metis and KLR expand

Published June 12, 2020 2:48 PM

Updated June 12, 2020 4:10 PM

1 Min Read

Prager Metis CPAs expanded in New Jersey by combining with William J. Keephart, CPA PA; and KLR Executive Search Group merged in Next Exec.

NEW JERSEY: Prager Metis adds Keephart

Details: Prager Metis, a Top 100 Firm based in New York, has combined with William J. Keephart CPA, PA, a firm in Lawrenceville, New Jersey.

The Keephart team will continue to operate remotely at this time but will eventually work out of Prager Metis’s office in Cranbury, New Jersey.

Financial terms of the deal were not disclosed. Prager Metis ranked 39th on Accounting Today’s 2020 list of the Top 100 Firms, with $133.92 million in annual revenue. Prager Metis has 110 partners and over 500 staff members.

Keephart’s firm is relatively small in comparison, but the employee number was unavailable. The firm specializes in serving small to medium-sized businesses and individuals.

“We welcome their addition,” said Prager Metis national managing partner Lori Roth in a statement Thursday. “Their entrepreneurial culture and dedication to exceptional client service mirrors our own. We are excited that this merger enables us to continue to provide excellent, personalized service to the diverse businesses and individuals throughout New Jersey.”

In January, Prager Metis expanded its presence in the Empire State by adding three downstate offices of D’Arcangelo & Co. LLP and announced a merger with Shine & Co. in New York City. Prager Metis did several mergers last year, including in November with M Moskowitz, a firm in River Edge, New Jersey. In October, Prager Metis added LFL Veritas in Teaneck, New Jersey. In July, it expanded to Washington, D.C., by merging in Frank & Co. PC, and earlier in the year it extended its footprint in both Florida and New Jersey by adding Beck, Villata & Co.

MASSACHUSETTS: KLR merges in Next Exec

Details: KLR Executive Search Group, part of KLR, a Top 100 Firm based in Providence, Rhode Island, has merged with Next Exec, an executive search and coaching firm in Salem, Massachusetts, expanding KLR’s health care practice.

The deal gives KLR entry into the senior living industry, including nursing homes and assisted living facilities. Joining KLR will be Next Exec partners Murray Lee and Karen Bradford, who both have extensive experience in the health care and retail industries. They will work alongside KLR’s existing team who do executive recruiting for financial, health care, retail, accounting and technology companies.

“To provide exceptional care, providers must select and prioritize the next generation of leadership, said KLR executive search group partner Ed Blum in a statement Friday. “The experience that Murray and Karen bring to the healthcare industry, along with their years of dedication, will enhance our depth of resources in the New England marketplace”.

Financial terms of the deal were not disclosed. KLR ranked 85th on Accounting Today’s 2020 list of the Top 100 Firms, with $52.2 million in annual revenue, over 30 partners and more than 250 employees.

“I’m excited to join the exceptional team at KLR and expand the footprint of this leading executive search firm to better serve the health care and retail businesses in New England,” said Lee in a statement.

“KLR has an outstanding reputation in the market by their record of consistently delivering successful candidates for their clients," said Bradford in a statement. "There’s a natural fit between our experience and KLR’s deep experience in providing businesses with excellent C-suite talent.”

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