Yount, Hyde and Barbour is acquiring Glass Jacobson; and RSM Brazil is merging in Pemom.
M&A roundup: YHB, RSM expand
May 25, 2022 3:36 PM
Yount, Hyde and Barbour acquiring Glass Jacobson
Glass Jacobson dates back to 1962 and offers tax, audit and consulting services to clients in the Baltimore-Washington greater D.C. metropolitan area. The deal will expand YHB’s wealth management services, with YHB and Glass Jacobson Investment Advisors LLC planning to form a joint venture.
The revenue of the combined firm is projected to be over $52 million. The deal will add six principals and 54 other employees to YHB, bringing the firm’s headcount to close to 300 employees, along with the two offices in Maryland. Financial terms of the deal were not disclosed.
YHB CPAs ranked No. 6 on Accounting Today’s Regional Leaders list for 2022 for the Top Firms in the Capital Region, with $37.95 million in annual revenue.
“We are excited to welcome the Glass Jacobson team to the YHB family,” said YHB managing partner Scott Moulden in a statement Wednesday. “We expect their team’s capabilities will enhance our already rapidly expanding reach into the Maryland/D.C. market.”
The new team members will continue to work out of the former Glass Jacobson offices in Owings Mills and Rockville, raising the YHB office count to 11 locations throughout the region.
"We are eager to join the YHB team,” said Glass Jacobson managing director and president Edward Jacobson in a statement. “Together, we will be able to provide greater resources to our clients and communities."
Ira Rosenbloom, chief operating executive of Optimum Strategies LLC, assisted with the deal as a strategic advisor.
“This is a powerful transaction, one that will have strong benefits for the business community in the DMV region,” he said in a statement. “These two firms clicked from the start because they each have a demonstrated track record of expertise and highly personal client care. Their synergies and respective capabilities will be a win-win in this new combination.”
Last year, YHB merged in
RSM Brazil merges in Pemom
Photo courtesy of RSM US LLP
Pemom, founded in 2012, offers audit, tax, HR and employment services, real estate credentials, along with risk advisory services. Partners at the firm are also active members of working groups within IBRACON, a private organization established to promote and enhance the audit profession and drive improvements across professional practices, in addition to being a member of the International Federation of Accountants.
Following the integration of Pemom, RSM Brazil forecasts revenues of $215 million Brazilian reals ($42,063,900 USD) in 2022, having recorded revenues of $155 million reals in 2021, a 30% increase over the previous year.
Laércio Soto, who has been a senior leader at RSM Brazil for almost a decade, will lead the combined firm as managing partner. “This merger is testament to our long-term commitment to expanding our services, and developing the skills and expertise of our people,” Soto said in a statement Monday. Growing our on-the-ground presence is a priority as RSM Brazil continues to support middle market businesses in the region with their growth journeys in a post-COVID world.”
Carlos Gerhard will take on the newly created role of chief operating officer to drive growth and efficiencies across RSM Brazil’s newly combined operations. “Pemom has developed an excellent reputation over the last 10 years for providing quality services, perfectly aligning the organization with RSM’s industry-leading global standards and ambitions,” he said in a statement. “In addition, by combining our operations, we will increase efficiencies and ensure that we can continue as a sustainable, people-centric and growth-focused business.”
The deal will expand the RSM International network as well. “The combined businesses create an even greater footprint for RSM in Brazil, which remains a key market for our global network,” said RSM International CEO Jean Stephens in a statement. “Under the leadership of Laércio and Carlos, RSM Brazil is set to serve clients with an enhanced offering, drive productivity to new heights, and power further growth, both in the region and internationally.”
