Cherry Bekaert & Holland has acquired the CPA firm Burrus Paul & Turnbull, expanding the firm’s presence in Virginia.
The deal, which took effect Feb. 1, will enable CB&H to expands its presence in the Hampton Roads area. The firm will be adding two partners and nine professionals. After the acquisition, CB&H will have nine partners and more than 80 professionals serving clients from offices in Virginia Beach, downtown Norfolk and Newport News.
Financial terms of the acquisition were not disclosed. Cherry Bekaert ranked 28th on Accounting Today’s 2010 list of the Top 100 Firms, with $98.58 million in annual revenue.
“Hampton Roads is one of CB&H's key markets, so we are pleased to add the resources and talent of BP&T through this acquisition,” said CB&H managing partner Howard Kies in a statement. “Expanding our service reach into Norfolk and Newport News provides us with a solid foundation to support our continued growth and enables us to better meet the needs of our local clients.”
With offices already established beyond Hampton Roads in Richmond, Tyson’s Corner, Lynchburg, and Roanoke, CB&H ranks among the largest non-Big Four accounting firms in Virginia with more than 235 accounting, tax and consulting professionals.
Formed in 1954, BP&T mainly services private businesses, mid-market organizations, entrepreneurs and high-net-worth individuals. The firm specializes in areas such as government contracting, manufacturing & distribution, real estate & construction, not-for-profit, and estates and trusts.
"We are excited about joining CB&H,” said former BP&T partner Stephen Turnbull in a statement. “Combining forces with a strong regional firm gives our clients access to a wide spectrum of highly valuable services and presents expanded opportunities for our staff.”
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