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 16 partners and over 140 employees across offices in Houston, San Antonio, Dallas, Fort Worth and Nashville.

"The two firms came together through a shared culture and focus on serving the middle market with digitally driven, industry-aligned solutions," Cherry Bekaert Advisory CEO Michelle Thompson told Accounting Today. "Calvetti Ferguson has built a strong reputation and deep client relationships in Texas, which aligns well with Cherry Bekaert's strategic growth goals in the region."

"Alignment on both geographical and service-oriented priorities are central to all of our acquisition conversations," Thompson continued. "Calvetti Ferguson's strong Texas presence was an attractive aspect as Texas is a central driver in our firm's growth. Cherry Bekaert also has established a presence in Nashville, and looks forward to continuing to invest in the region.

"Calvetti Ferguson's industry focus and experience greatly complement Cherry Bekaert's mission of broader commitment to serving middle-market CFOs in the real estate, energy, private equity, financial services, technology, and professional services industries."

Cherry Bekaert, based in Raleigh, North Carolina, ranked No. 17 on Accounting Today's 2026 Top 100 Firms list. It reported $900 million in revenue, with 258 partners and over 3,100 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.