Cherry Bekaert acquires Calvetti Ferguson

Cherry Bekaert today acquired Houston-based Calvetti Ferguson, expanding the Top 20 Firm's footprint in Texas and in Nashville, Tennessee.

Calvetti Ferguson is an Accounting Today Regional Leader in the Southwest, serving middle-market clients across real estate, construction, energy, oil and gas, private equity, venture capital, financial services, manufacturing, professional services, nonprofits and technology. The firm reported $43 million in revenue, with 18 partners and over 140 employees across offices in Houston, San Antonio, Dallas, Fort Worth and Nashville.

"This acquisition is a strategic step forward in our strategy to serve the middle-market as trusted advisors known for digitally driven, industry-aligned solutions," Michelle Thompson, CEO, Cherry Bekaert Advisory, said in a statement. "Texas is central to our growth story, and Calvetti Ferguson brings the talent, industry depth and cultural alignment to accelerate our momentum."

Cherry Bekaert, based in Raleigh, North Carolina, ranked No. 17 on Accounting Today's 2026 Top 100 Firms list. It reported $764 million in revenue, with over 210 partners and 3,000 employees across 58 offices. 

The firm took a private equity investment from Parthenon Capital in 2022, splitting its attest and non-attest services into Cherry Bekaert and Cherry Bekaert Advisory, respectively. As such, Cherry Bekaert will acquire Calvetti Ferguson's attest assets and Cherry Bekaert will acquire its non-attest assets. Calvetti Ferguson will operate under the Cherry Bekaert brand.

"Joining Cherry Bekaert significantly expands the capabilities and resources we can offer our clients and communities," Jason Ferguson, managing partner of Calvetti Ferguson, said in a statement. "Our firms share a strong cultural alignment rooted in a people-first mindset and a commitment to quality. Together, we are well-positioned to deliver greater value across the industries and markets we serve."

Cherry Bekaert has completed over a dozen deals since it took private equity money. Most recently, it added Tarsus in Washington, D.C. Last year, it acquired Regional Leader Herbein + Co. in Reading, Pennsylvania; Jameson in Bedford, Massachusetts; and Spicer Jeffries in Denver. In 2024, it acquired DeBlanc, Murphy & Murphy in Waldorf, Maryland; Katz Nannis + Solomon in the Boston area; Microsoft reseller ArcherPoint; and accounting software and cloud services firm Kerr Consulting. In 2023, it added PKF Mueller, a Regional Leader with offices in Illinois and Florida; MCM CPAs & Advisors, a Top 75 Firm based in Louisville, Kentucky; Legier & Co., a forensic accounting and litigation consulting firm in New Orleans; and Cordia Partners in the Washington, D.C., area. In 2022, it added Treacy & Co., a firm with offices in Boston and Chicago.