Accounting firm consolidator Century Business Services Inc. has acquired the San Diego-based CPA and consulting firm Nation Smith Hermes Diamond.
Financial terms of the merger, which became effective Jan.1, 2005, were not revealed.
Under the structure of the union, NSHD will merge its audit practice with Mayer Hoffman McCann, a firm that spun off all but its attest services under the CBiz umbrella in 1998, while NSHD's remaining business lines, including tax, wealth management, information technology consulting and valuations, will be folded into CBiz.
Nation Smith Hermes Diamond brings some 95 employees, including 11 shareholders, and $11.5 million in annual revenue to CBiz.
Including the purchase of Nation Smith Hermes Diamond, CBiz has completed five acquisitions during the past eight months, a buying spree that is projected to add roughly $22 million to CBiz's annualized revenue.
Included in that acquisition tear was Brockmann, Armour & Co, a 45-year-old accounting firm in Denver, and Gallery Asset Management, a registered investment advisor in Cleveland.
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