MarksNelson acquires tech company Blue Ocean Consulting
Kansas City, Mo.-based firm MarksNelson has acquired Blue Ocean Consulting (BOC), which provides digital transformation consulting services and creates custom software and technology solutions for businesses. The acquisition adds services including technology consulting, software development, data analytics and design to the firm’s portfolio of client offerings.
BOC’s 22 staff members have become MarksNelson employees; and the technology company will retain its name until it moves into MarksNelson’s Kansas City offices this summer from Lenexa, Kan.
MarksNelson is Kansas City’s largest locally owned accounting firm with 154 employees prior to acquiring BOC. The firm reported $23 million in revenue, and estimated it will increase its revenue by 20 percent following the acquisition of BOC.
Financial terms of the deal were not disclosed.
MarksNelson’s managing partner Mark Radetic said in a statement that BOC is a particularly good match for his firm because both serve a high volume of clients in the manufacturing, construction and economic development fields, as well as small and midsized enterprises.
“Technology is transforming the way accounting firms do business,” Radetic stated. “Bringing two known brands in our respective fields together gives us the tools to better serve our clients by providing more comprehensive, innovative offerings. The merger of accounting and technology in one firm gives us the ability to lead the way into the future and meet our clients’ broader business needs … We are constantly looking for opportunities to add services that allow our clients to be more profitable, efficient and productive. Technology is driving change in all aspects of business and we recognize the tremendous value we can bring to MarksNelson clients by having technology expertise on staff.”
“MarksNelson is highly rated nationally for their performance among CPA firms and growth. We have experienced a similar trajectory,” added BOC President Scott Carson, who took the helm at the 22-year-old company in 2015 and oversaw a 35 percent revenue increase that year. “We share a belief in empowering and developing our employees. By bringing two strong Kansas City brands together, we will provide more opportunities for our employees and better serve both firms’ clients.”