BDO merges in ACM
BDO USA is expanding in Colorado and Wyoming by adding ACM LLP, formerly known as Anton Collins Mitchell LLP, a firm based in Denver.
ACM has been a member of the BDO Alliance since 2002, and before that was a part of BDO. The deal is expected to close Aug. 1.
“As a BDO Alliance USA firm, BDO and ACM have an intertwined history dating back nearly 20 years,” said BDO USA CEO Wayne Berson in a statement Wednesday. “In officially welcoming back ACM partners and professionals to BDO, we expand our resources in the Rocky Mountain region and open up opportunities for our people to thrive. From industry focus to market-facing strategy to advanced technical attention, BDO and ACM bring incredible insight and industry-leading creativity to our work. Our common commitment to prioritizing exceptional client service and supporting our people will ensure a seamless transition for clients in the weeks and months ahead.”
Financial terms of the deal were not disclosed. BDO ranked 7th on Accounting Today’s 2020 list of the Top 100 Firms, with $1.64 billion in annual revenue. ACM reported $29.9 million in annual revenue last year, with 22 partners and 167 staff members. BDO has over 600 partners and 7,000 employees.
ACM was founded in 2002 and has offices in Denver, Northern Colorado, Boulder, as well as Laramie, Wyoming. It was an Accounting Today Best Firm to Work For for several years. ACM provides assurance, tax and consulting services.
“ACM and BDO have had a very strong relationship and worked closely together for many years, and reuniting is a natural next step on the path we’ve built together,” said ACM chairman and CEO Gregory Anton in a statement Wednesday. “At our core, ACM is a people, client and community-focused organization, so it was imperative that we combine with a firm grounded in those values — and is why we chose to continue to grow our Rocky Mountain footprint with BDO. What makes this combination unique is bringing the touch of the largest locally owned firm together with the fifth largest firm in the world. The resources we will be able to bring to clients in the region is unmatched.”
Anton spent the first 15 years of his career at BDO before co-founding ACM. He chaired the American Institute of CPAs from 2011 to 2012. Anton believes he will help bolster the firm’s geographic presence and drive growth in the Rocky Mountain market.
“The combination of BDO and ACM is a natural fit given the firms’ shared histories and complementary cultures,” said Stacey Duke, president and managing partner of ACM, in a statement. “ACM was already a part of the BDO family — we’ve just made it official. The combination of the two firms demonstrates BDO’s commitment to expanding its footprint in the region, and to uncovering strategic opportunities in both familiar and brand-new territories.”
BDO plans to maintain ACM’s four existing offices in Denver, Northern Colorado, Boulder and Laramie.
Last month, BDO announced two other M&A deals, merging in CFO Advisors and MorganFranklin Consulting’s public sector practice. That same month, BDO added Piercy Bowler Taylor & Kern, CPAs, a firm based in Las Vegas, expanding BDO’s presence in Nevada and Utah. At the beginning of the year, BDO added Biegel Waller Investment Advisory Services and Biegel Waller Tax Advisory Services in Columbia, Maryland.