LeMaster Daniels has acquired Abramson Pendergast & Co., another CPA firm based in Washington State.
Financial details of the acquisition were not disclosed, but according to Pam Pyrc, director of marketing at LeMaster Daniels, Bellevue-based Abramson is a $6.5 million firm and Spokane-based LeMaster's revenue was previously $29 million, giving the combined firm a total of about $36 million in revenue. The acquisition will make LeMaster the second largest CPA firm in Washington State, behind Seattle-based Moss Adams. The firm was ranked No. 88 on Accounting Today's 2007 list of the Top 100 firms.
The deal helps LeMaster expand into the Bellevue, Seattle and Puget Sound markets. All of Abramson's 40 employees and six shareholders will be moving to LeMaster. Rob Abramson, managing shareholder of Abramson Pendergast, will lead a new effort to generate extra business.
His firm has 4,000 active clients and he will be able to sell them some of the services that two of LeMaster Daniels's affiliate companies provide: technology services through Troi IT Solutions, and wealth management through Prospera Wealth Management.
"They have access to larger resources like Wilshire and Goldman Sachs," said Pyrc. "Now their clients will have greater ability to access those resources."
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