Kahn, Berman, Solomon, Taibel & Mogol, P.A., a firm based in Hunt Valley, Maryland, is adding Varanko & Black CPAs, another firm based in the same community in Baltimore County, effective Jan. 1, 2025.
No cash was exchanged as part of the deal. "The deal is simply a merger of Varanko & Black's practice into KBST&M," said KBST&M managing partner Jeffrey Berman. KBST&M's billings amount to $7.5 million and Varanko & Black's are $2.5 million. The combined firm is expected to generate $10 million in revenue.
KBST&M has 38 employees, including seven partners and one office, while Varanko & Black has 15 employees, including three partners and one office. Starting Jan. 1, the combined firm will operate from KBST&M's office.
"Their focus in tax and business accounting services is well-aligned with the array of services we provide to our clients," said Berman. "Most importantly, they share our proactive approach and dedication to meeting our clients' needs with the highest standards of excellence and professionalism. As KBST&M seeks to add exceptional talent to our firm, we are happy to have found an outstanding strategic partner in Varanko & Black, a longtime business neighbor in Baltimore County that shares our commitment to the region and beyond."
Optimum Strategies chief operating executive Ira Rosenbloom served as strategic advisor to both parties in the transaction.
KBST&M has been expanding since 1985 to serve clients with accounting, auditing, tax planning and preparation, high net worth services, management advisory services, business valuation services and information technology consulting.
Varanko & Black CPAs has been providing financial guidance to local individuals and businesses since 1983. Its services range from basic tax management and accounting services to more in-depth services such as audits and financial statements.
"Our entire team is delighted to be joining with the highly respected professionals at KBST&M," said managing partner Steve Varanko in a statement. "In this rapidly evolving business environment, we recognized that growing our firm with talent, technology, resources, capacity and expanded services was in our clients' best interests. In KBST&M, we have found a powerful partner with a compatible people-focused culture and an equally strong track record of serving closely-held businesses and customizing their services to meet each client's needs."
