Top 100 Firm BDO USA LLP has made a major expansion in the Midwest with the addition of more than 375 staff, including 36 partners, from SS&G Inc and its SS&G Parkland subsidiary.
The combination of BDO and SS&G is subject to customary closing conditions and is expected to be completed on Jan. 1, 2015. SS&G Wealth Management, SS&G Healthcare and Paytime Integrated Payroll Services are not part of this transaction and will continue to serve their clients as independent entities.
SS&G partners and employees are based throughout Cleveland, Akron, Columbus, Cincinnati and Chicago markets. SS&G provides a full range of accounting and consulting services to a diversified client base with significant strength in the manufacturing, distribution, restaurant, healthcare, nonprofit, real estate and technology industries.
“We already generate significant revenue in Ohio, but we have never had an office in the state,” Wayne Berson, CEO of BDO USA said in a statement. “This transaction provides a major strategic addition to BDO, as it fills a gap in our geographic coverage of the Midwest. With SS&G, we aren't just entering a new market, we are gaining a leading accounting practice in Ohio with a great reputation throughout the region, as well as a nationally prominent restaurant practice. At the same time, we are greatly enhancing our existing practice in the greater Chicago market.”
Robert Littman, CEO of SS&G added: "By combining with BDO, we will build on that tradition. Our growing clients will still receive the local, hands-on service they value, but will now have access to a wider array of services, extensive industry experience, SEC representation and the resources of BDO’s extensive global network. BDO has a very similar entrepreneurial culture to our own and the firm ’s reputation as a favorable workplace also fits well with our focus on work/life balance. Our people will now have access to many more opportunities to pursue career growth.”
“BDO has always admired SS&G for their great culture, rapid growth, industry specialization, women in leadership positions, and their innovative approach to running the firm,” said Allan Koltin, CEO of Koltin Consulting Group, who advised both parties on the combination. “SS&G leadership was very careful to make sure they found a firm that put people and clients first and had the kind of entrepreneurial culture that would allow their people to thrive.”
Several SS&G partners will be taking on leadership roles at BDO. Robert Littman will be joining the BDO USA board of directors and he will also be taking on a new role at BDO as Managing Partner of Ohio, with all Ohio based office managing partners reporting to him. SS&G founders, Mark Goldfarb and Gary Shamis will also be joining BDO. Goldfarb will serve as Ohio Managing Partner for Key Client Relationships and Growth Strategies and Shamis will serve as National Strategy and Growth Advisor in BDO USA's national office, while maintaining his presence with Ohio clients.
To find out what made SS&G so appealing to BDO, click here.
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