Clark Schaefer Hackett & Co., a Top 100 Firm based in Cincinnati, has bought Business Management Resources Inc., a Holt, Michigan-based firm that provides managed accounting services to restaurant chains, effective Feb. 1.
“This acquisition is a continued expansion of our capabilities beyond compliance work,” said CSH president Kerry Roe in a statement Tuesday. “The BMR team brings a proven, process-driven system for serving franchises, and we aim to grow their network and pursue opportunities with other franchise systems.”
Financial terms of the deal were not disclosed. CSH ranked No. 70 on Accounting Today’s 2019 list of the Top 100 Firms, with $64.24 million in annual revenue. The firm has 47 shareholders and 433 staff members, while BMR has one partner and three staffers.
BMR founder James Back is a restaurant franchise owner. He and his three employees will join CSH’s office in East Lansing, Michigan.
“Jim brings great perspective to us as a franchise owner,” Roe stated. “He knows the business inside and out and he’s an expert at franchise financials. Likewise, CSH can bring added benefits to the table like data analytics, technology and infrastructure.”
“Joining CSH increases my team’s core accounting and financial advisory capabilities and our ability to add value to our client’s business,” said Back in a statement. “We are better positioned to serve our clients well into the future.”
The deal represents CSH’s latest expansion in the Midwest. Since 2014, CSH has acquired two firms in Lansing, Michigan:
