KWC, a CPA firm based in Alexandria, Virginia, is expanding in the state capital by adding Kimble CPAs in Richmond.
Kimble CPAs serves clients in Virginia, as well as California, Florida, Maryland, Texas, West Virginia and Wyoming, providing audit, tax and accounting services, along with trust and estate planning, business expansions and international matters. KWC specializes in providing tax, audit, accounting and business advisory services for businesses, individuals, estates, trusts, nonprofits and employee benefit plans. Its clients include professional service firms, government contractors, nonprofits, real estate, construction and specialty contractors and health care providers.
"We are excited to expand in the Richmond market," said KWC managing partner Connie Hammell in a statement last Friday. "Adding the Kimble team strengthens our existing Richmond presence and provides additional opportunities to serve our mutual clients in this market."
Financial terms of the deal were not disclosed. KWC ranked No. 14 on Accounting Today's 2022 list of the leading firms in the Capitol Region, with $17.17 million in annual revenue. The deal, which closed July 25, is expected to increase KWC's total revenue to $22 million, according to
"Through this merger with KWC, we are enhancing our commitment to bring the right people to the right project to provide the best results and client experience," said Kimble CPA co-founder and tax partner Kimberley VanHuss in a statement. "I am thrilled for this new venture, which is a win for both our teams and the individuals and businesses we serve."
Sterling Point Advisors, an M&A advisory firm based in Richmond, advised Kimble CPA on the transaction. "This combination has everything you look for in a great partnership — from alignment of culture to complementary capabilities and services," said Sterling Point managing director Luke Campbell in a statement. "It has truly been a privilege to help Kimble start this exciting new chapter. They could not have found a better partner."
KWC, formerly known as Kositzka, Wicks & Company, expanded to Richmond in 2017 by merging in
