Herbein & Co., a Regional Leader firm based in Reading, Pennsylvania, has acquired Creese, Smith, Hune & Co., a firm based in Pittsburgh, effective Nov. 1.
The deal will strengthen a growing geographic market for Herbein as part of its strategic plan. "We are known in the Greater Pittsburgh communities where we live and work as one of the region's most-trusted CPA advisory firms, so we are excited to welcome Creese, Smith, Hune & Co. LLC's highly respected practice," said Herbein CEO David Stonesifer in a statement Tuesday.
Financial terms of the deal were not disclosed. Herbein ranked No. 18 on Accounting Today's 2023 Regional Leaders list of the Top Firms in the Mid-Atlantic with $46.75 million in annual revenue, approximately 35 partners and over 250 employees.
Creese, Smith, Hune & Co. was founded in 1996 and has 13 professionals. Three of them — Dave Smith, Jim Hune and Bryan Hinds — will be joining Herbein as senior consultants.
"Herbein complements and enhances our current service offerings for our business community, and we know that they will help us provide even greater value to our clients," said Smith in a statement.
"Herbein has comprehensive experience in all the areas we work in, and their team will bring additional bench strength to serve our clients — and provide an outstanding foundation for the future to our team members," Hune added.
Optimum Strategies CEO Ira Rosenbloom advised the firms on the combination.
Last year, Herbein added
