M&A roundup: Rea, Raich Ende Malter and REDW expand

Details: Rea & Associates, a Top 100 Firm based in New Philadelphia, Ohio, has expanded in Ohio by merging in clients from W.J. Ubbing and Associates in Columbus.

To facilitate a smooth transition during tax season, the merger is happening in two phases. Phase one is taking place in early February and will mainly affect audit clients and their services. Phase two will occur after April 15, and will enable Rea to bring on all remaining tax and assurance clients.

Financial terms of the deal were not disclosed. Rea ranked 86th on Accounting Today’s 2019 list of the Top 100 Firms. Rea & Associates closed out its fiscal year with revenue of $49 million. The firm has 320 employees and, of those, 61 are principals.

W.J. Ubbing and Associates mainly works with construction companies and those clients will be assigned to Rea’s construction and real estate team.

“With Rea, our newest Ubbing clients will have access to more services and support to meet their business needs, like SALT, business valuation, retirement plan administration, cyber and data protection services and more,” said Doug Houser, principal and director of construction and real estate services at Rea & Associates, in a statement. “We are looking forward to welcoming these new clients and introducing them to The Rea Way and all that our team of industry experts and service professionals can offer.”

Last year, Rea merged in Tucker & Tucker CPAs, a firm in Cambridge, Ohio.

Details: Raich Ende Malter & Co. LLP, a Top 100 Firm based in New York, has taken over the U.S. practice of U.K.-based accounting firm Frank Hirth PLC, known as Frank Hirth LLC in the U.S., effective Feb. 17, 2020.

Frank Hirth PLC will continue its U.K. and Wellington, New Zealand, operations without any change. Financial terms were not disclosed.

Raich Ende Malter ranked 83rd on Accounting Today’s 2019 list of the Top 100 Firms. With the addition of the Frank Hirth portfolio, its revenues are expected to approach $60 million, solidifying REM’s place as one of the top 10 regional accounting firms in New York. The directors, associates and staff of Frank Hirth LLC will move to REM’s Midtown Manhattan location on Feb. 17. REM now has approximately 45 partners and principals and 240 employees.

“We are always looking to join together with accounting firms that complement or expand our current service offerings and the industries we serve,” said Ellis Ende, managing partner of REM, in a statement. “Frank Hirth is a very special organization. I am excited to have these remarkable individuals here at REM, and I look forward to working together.”

In 2016, REM merged in Stein deVisser & Mintz in New York City.

Details: REDW LLC, a Regional Leader firm in the Southwest, has merged in Human Resources Experience LLC, an Albuquerque-based HR consulting and proactive legal practice.

Human Resources Experience was founded by attorney Cristin M. Heyns-Bousliman, who is joining REDW as a practice leader in human resources consulting. She will be transitioning to department head by July 1, 2020.

In both roles, she will apply her knowledge of federal and state employment law; HR management and strategy; employee relations, compensation and benefits; and employee engagement to help clients in HR-related areas.

“Our decision to add Cristin to the REDW team aligns with our strategic plan to meet the ever-evolving needs of clients, ensure effective succession planning, and expand an important piece of the firm’s consulting services,” said REDW managing principal Steve Cogan in a statement. Financial terms were not disclosed.

Last year, REDW LLC, merged in Smith Harrison LLP, a Las Vegas-based CPA firm that specializes in tribal gaming.