BPM merges in Caravel
BPM LLP, a Top 50 Firm based in San Francisco, is adding Caravel Partners, a NetSuite implementation partner in the same city, effective Oct. 1, 2020, expanding BPM’s technology solutions team.
Caravel has been building its business for the past 25 years with clients in different industries, supporting the implementation and management of their ERP software.
“We realize our technology solutions team is needed more than ever before to support our clients and navigate the ‘new better’ in which we live and do business,” wrote BPM CEO James Wallace in an email to clients Wednesday. “The Caravel team will complement our established, nationally recognized Technology Solutions practice and expand our ERP software implementation, development, evaluation and selection capabilities to clients throughout the United States and the world. With our expanded expertise, we are committed to providing the best possible service to you and your colleagues to boost your business. At BPM, we realize the value in investing in technology to allow leaders to make real-time, business-changing decisions.”
Financial terms of the deal were not disclosed. BPM ranked 46th on Accounting Today’s 2020 list of the Top 100 Firms. BPM, formerly known as Burr Pilger Mayer, had annual revenue in 2019 of $117 million, while Caravel’s 2019 revenue was $5.3 million. Three partners and 25 other employees from Caravel will be joining BPM, which already has 53 partners and 535 other employees, including a team in Bengaluru, India.
In August, BPM added Warnick, Maestas & Maroney, a firm in Irvine, California. Last September, BPM merged in Adhere, a cybersecurity firm in Fairfield, California. In August, BPM merged in CPA Consulting, a firm based in Bellevue, Washington, and in January added Croce & Company, a firm in Stockton, California. In 2018, BPM expanded into Southern California by combining with Kramer & Olsen Accountancy Corporation, a firm based in Orange County. It also added Options4Growth’s HR consulting practice that year in Walnut Creek, California.