Barfield, Murphy, Shank & Smith is expanding in Alabama by merging in Hindsman PC, a Gadsden-based CPA firm, effective Jan. 1, 2018.
The combined firm will have approximately 170 employees and operate under BMSS’s name.
BMSS started in Birmingham in 1991 and has grown into one of the five biggest accounting firms in Alabama. It ranked No 12 on Accounting Today’s 2017 Regional Leaders list for the Top Firms in the Gulf Coast region, with $18.3 million in annual revenue, and it anticipates revenue of $20.5 million by the end of this year. BMSS has been named a Best Place to Work by numerous publications, including The Wall Street Journal and Accounting Today.
Hindsman PC dates back to 1928 when it was founded by George King. Brothers Scott and Todd Hindsman became managing shareholders of the firm in 1995. “Much of our firm’s growth and success has come through the support of the local businesses and community,” said Todd Hindsman in a statement. “We look forward to being able to continue supporting the growth of our clients’ businesses with access to additional resources gained in this merger.”
Hindsman provides a variety of accounting, tax, audit and advisory services to businesses and individuals throughout Northeast Alabama, including an outsourced bookkeeping practice and payroll services. The firm works with clients in industries such as medical practices, manufacturing and construction.
“For many years, we have witnessed, admired and respected how BMSS has taken care of its people and its clients throughout the state,” said Scott Hindsman. “Their culture and primary mission closely mirror ours. The skill sets of both firms are complementary to one another. It just seemed to make sense to bring the two firms together.”
Hindsman has two partners, three CPAs, and support staff, bringing the total to 12 in all. After joining BMSS, the Hindsman brothers will continue to manage their firm’s local office in Gadsden. Financial terms of the deal were not disclosed.
“This merger is significant for all of us,” said BMSS founding partner Don Murphy in a statement. “In Hindsman, we found people who, like us, could add real value at every stage of an organization’s life cycle with strengths that complement and extend our own. Beyond that, we feel that they’re a great fit with our people, our culture and our mission of delivering an exceptional client experience.”
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