M&A roundup: Deals in Georgia and Michigan
Mauldin & Jenkins adds KRT CPAs division
Details: Top 100 Firm Mauldin & Jenkins has merged in KRT CPAs’ governmental practice division, expanding the firm to Savannah, Georgia, effective July 1.
KRT CPAs, formerly known as Karp, Ronning & Tindol, dates back to 1925. The firm has been operating in Savannah for over 90 years, offering audit and tax services to clients. Financial terms were not disclosed. As part of the deal, Derrick Cowart will be joining Mauldin & Jenkins as a partner, along with several other staff professionals. He has more than 30 years of experience in public accounting. Financial terms were not disclosed. With the merger, Mauldin & Jenkins will have approximately $51.5 million in total revenue with 36 equity partners and 14 non-equity partners.
Mauldin & Jenkins is celebrating its 100th anniversary this year. Over the past century, it has expanded from its roots in Albany and southwest Georgia to locations in Macon and Atlanta, Georgia; Chattanooga, Tennessee; Birmingham, Alabama; Columbia, South Carolina; and Bradenton, Florida. The firm employs approximately 300 people, including 53 partners.
“We view the merger of KRT’s governmental practice unit as a unique and strategic opportunity to expand our presence in this important market area of Georgia and the greater Low Country area,” said Hanson Borders, incoming managing partner of Mauldin & Jenkins, in a statement. “Clients of both firms will benefit from greater convenience and the combined service capabilities that our two governmental practices together will offer.”
Mauldin & Jenkins provides tax, audit, and consulting services to individuals, estates, trusts, financial institutions, governments, not-for-profits, long-term health care organizations, SEC registrants, agribusiness, professional services, manufacturing, wholesale distribution, retail, employee benefit plans, construction and property management.
Gordon Advisors merges in Tobias, Vandeputte & Skulsky
Details: Gordon Advisors has merged in Tobias, Vandeputte & Skulsky PC, effective July 1, in Troy, Michigan.
The combined firm will continue to offer public accounting, tax and business advisory services to privately held companies, individuals and nonprofits.
Both firms cater to clients in Southeast Michigan and provide similar services. The entire Tobias team of partners and staff will continue to serve clients. The merger will create a firm with more available talent and resources for clients. Financial terms were not disclosed.
“A CPA firm is only as good as the professionals it employs,” said Kevin Klein, a shareholder and executive committee member at Gordon Advisors, in a statement. “As the two practices fully integrate, Gordon Advisors will be even better positioned to serve its expanding client base. We are thrilled to be joining forces.”
Both firms have a shared culture and a long history, with Gordon Advisors dating back more than 60 years, and Tobias, Vandeputte & Skulsky almost 80 years.
“We are very proud of the nearly 80-year history of our firm,” said Gary Vandeputte in a statement. “We also recognized the next step was to merge with a top-tier local firm that would enable us to offer expanded resources and services to our clients and opportunities for our team members. Our clients can look forward to working with a firm recognized by its peers and in the community as a leading accounting and business advisory firm, while keeping the value, point of contact and exceptional client service to which they have become accustomed.”