ALABAMA
CB&H sells Alabama office
Details: Top 100 Firm Cherry Bekaert & Holland has divested its Mobile, Ala.-based office to local accounting firm Wilkins Miller Hieronymus LLC for undisclosed terms. The sale adds two former CB&H professionals to Wilkins Miller, giving it a total of 32 CPAs on staff.
WMH was created by a merger in 2009 of Wilkins Miller PC and Hieronymus, Gaillard & Jones LLC. The practice focuses on such niches as estates and trusts, forestry, and manufacturing.
CALIFORNIA
Crowe to merge in Perry-Smith
Details: Top 10 Firm Crowe Horwath LLP announced plans to merge in Perry-Smith LLP on November 1, expanding the Chicago-based firm's footprint to San Francisco and Sacramento. As part of the agreement, Perry-Smith's 16 partners and over 100 professionals will join Crowe. Crowe Horwath currently has offices in Los Angeles and Costa Mesa, but the deal will expand its West Coast presence.
Financial terms of the deal were not disclosed. The merger is expected to bring the firm an additional $30 million in revenue in the new market, according to Crowe Horwath CEO Chuck Allen.
"It was actually a very strategic opportunity for us," he said. "It allows us to further develop the West Coast. That's a key part of our strategy of becoming a national firm that's globally branded." He noted that Crowe already has offices in the southern part of the state, but needed a presence in Northern California. "The size of their firm is a great platform for us in a very attractive market," Allen added. "After we put the two firms together, our business and their business there in Northern California will have approximately $30 million in revenue."
Allen was in talks with Perry-Smith founder Robert Perry-Smith and his partners for nearly 10 months prior to the merger. He plans to invest additional resources in the new San Francisco and Sacramento offices. Allen declined to describe the next region where Crowe will expand, but said the firm would be investing more heavily in developing its presence in the New York, Dallas, and especially the Atlanta markets.
KPMG acquires Optimum Solutions
Details: Big Four firm KPMG LLP has acquired Optimum Solutions, an Oracle Platinum Partner that provides management consulting and implementation services for organizations using Oracle Corp.'s enterprise software. Terms for the transaction were not disclosed.
Based in San Francisco and founded in 1999, the HCM Oracle solution provider is expected to help KPMG address clients' enterprise resource planning, human capital and business intelligence needs. The practice will benefit from Optimum's focus on Oracle's latest Fusion HCM product suite.
SOUTHERN CALIFORNIA
Burr Pilger-Windes in blockbuster deal
Details: In a union that would create one of the largest CPA firms in California, Top 100 Firm Burr Pilger Mayer is merging with Windes & McClaughry Accountancy Corp., effective Jan. 1, 2012.
The combined firm will have roughly $100 million in revenue, 73 shareholders, 550 employees and 11 offices, and will be known as BPM in Northern California and BPM Windes in Southern California.
BPM managing partner Steve Mayer will serve as the firm's chief executive and managing partner. Windes managing partner John Di Carlo will oversee the operations of BPM Windes.
"I honestly think that this clearly is the most substantial merger in the history of California," Mayer told Accounting Today. "About a year and a half ago we had an epiphany after reading about yet one more merger with East Coast or Midwestern firms getting into California. So I got a list of the top 20 firms and took a look at who's out here and who's not."
"We wanted a firm with at least $25 million, two offices and an SEC practice, because we know we could expand that," Mayer said. "We began talking to Windes about a year ago, and the more John and I talked, the more we liked each other."
"We plan to grow [BPM Windes] to $50 million over the next three years and can add another $25 million in San Francisco to make it a $140-150 million firm," Mayer said. "There's a lot of possibilities - San Diego, Orange County, Downtown and West Los Angeles. This will be a great launching pad."
Orange County firms unveil merger
Details: CPA firm White, Nelson & Co. announced that it would merge with Orange County practice Diehl, Evans & Co., effective December 1. The consolidated firm, which will do business as White Nelson Diehl Evans LLP, will operate from the White Nelson headquarters in Irvine and have additional offices in Carlsbad and Escondido. The entity will have more than 125 employees. Dave Doran will serve as managing partner.
CHICAGO
Ernst & Young acquires True Partners' tax risk practice
Details: Big Four firm Ernst & Young has acquired the tax risk and process re-engineering practice of Chicago-based True Partners Consulting. E&Y also acquired the intellectual property related to the practice. Terms were not disclosed. The acquisition will enable E&Y to expand its team and capabilities for helping corporate tax clients, especially in the Midwest, deal with globalization, regulation and other challenges. As part of the deal, TPC managing director Andrea Gronenthal has been appointed Midwest tax performance advisory leader at E&Y. She and her team will now be based in E&Y's Chicago office.
KENTUCKY
Kemper merges in Kentucky firm
Details: Greenfield, Ind.-based Top 100 Firm Kemper CPA Group has merged in Campbell, Royster, Carver, McBride & Co. LLP of Henderson, Ky., effective October 1. Terms were not disclosed. Going forward, the consolidated firm will operate under the Kemper brand.
The union will add four partners to Kemper - Benson Campbell, Judson Royster, Terry Carver and David McBride, who will remain in the Henderson office.
NEW YORK
Mayer merges with Feldman Meinberg
Details: New York accounting firms Mayer & Co. and Feldman, Meinberg & Co. have agreed to merge their practices. The combined firm will be known as MayerMeinberg and will have offices in New York City and Syosset, N.Y. The 30-employee firm will be led by co-managing partners Robert O. Mayer and Mark L. Meinberg. Financial terms of the transaction were not disclosed. The merger took effect on September 1.
Mayer & Co. dates back nearly 25 years and Meinberg & Co. over 60 years. They both specialize in real estate, and the two managing partners recognized other things in common at their firms.
"Our real estate practice spans Manhattan, the outer boroughs and Long Island, with significant clients throughout the tri-state area," said Mayer. "The diversity of these clients within the industry has helped us to create a playbook of best practices to share with our clients."
Other MayerMeinberg services include lifestyle management, cash management, turnaround management, family business planning, business management consulting, estate and retirement planning, and CFO services. The firm also has a full-time tax attorney on staff.
ONTARIO
MNP expands Ontario presence
Details: Calgary, Alberta-based MNP said it would merge in Waterloo, Ont.-based Wayne Drew Professional Corp., effective October 1. Financial terms were not disclosed. Founded in 2002, WDPC serves primarily small-business and professional clients. The union is the second in the Waterloo market for MNP since January 2010, when it merged in the area practice of Collins Barrow. "In 2008, MNP developed a new strategic plan to grow from being a regional to a national firm," said MNP CEO Daryl Ritchie. "Bringing in like-minded firms in Ontario has helped us realize that vision."
TENNESSEE
Hoskins merges in Chattanooga firm
Details: Minority-owned CPA firm Hoskins & Co. is expanding from its Nashville base to Chattanooga, Tenn., with the acquisition of the firm of Harry Tate CPA PC. The expansion will give Hoskins a second office in Tennessee and a bigger footprint in the state. Tate will serve as managing director of the Chattanooga office. The firm will provide audit, tax and advisory services to clients in the area. In addition to acquiring a new office, Hoskins & Co. has expanded its Nashville-based staff.
HOUSTON
McConnell & Jones adds North Houston firm
Details: CPA firm McConnell & Jones has merged in John A. Braden PC. Terms were not disclosed. The union aligns with McConnell & Jones' strategy to expand into the north and northwest areas of Houston. Founded in 1971, Braden serves both domestic and international business clients, and provides tax, assurance and consulting services. Firm founder John Braden will come aboard M&J as a partner and will oversee his existing client base, as well as helping the firm spearhead expansion into the surrounding areas of North Houston, including Greenspoint, Spring and Woodlands.
