McGuire Sponsel merges in Ernst & Morris
Tax and consulting firm McGuire Sponsel has added Ernst & Morris, a firm that specializes in cost segregation studies.
Based in Indianapolis, McGuire Sponsel helps CPA firms with specialized services such as cost segregation, research and development tax credit studies, IC-DISC, and economic incentives advice.
Ernst & Morris is based in Marietta, Georgia, just outside of Atlanta. It’s one of the oldest and biggest firms dedicated to cost segregation studies, which help clients identify property assets to optimize depreciation deductions for federal tax purposes. Founded in 1993, Ernst & Morris operates in all 50 states servicing both CPA firms and property owners.
“Ernst & Morris is an ideal partner who will bring incredible value to our clients,” said McGuire Sponsel co-founder and managing shareholder TJ Sponsel in a statement. “Beyond the combination of significant cost segregation expertise, we share important core values and the foundational belief that successful relationships are built on trust and integrity.”
Financial terms of the deal were not disclosed. The combined firm has 50 employees.
“Merging with McGuire Sponsel provides tremendous opportunity for our clients, beginning with access to additional practices and a seasoned research and development practice to complement our work in cost segregation,” said Alan Smith, managing director at Ernst & Morris. “With enhanced solutions our firm is better positioned to help clients and partner CPA firms maximize savings.”
Winding River Consulting CEO Gary Shamis said the merger represents an opportunity for both firms and the clients they serve. “This is a substantial combination of industry forces,” he stated. “McGuire Sponsel has quickly developed a national reputation for high-level advisory work, and Dave McGuire is a leading industry expert. Ernst & Morris is an industry pioneer and considered to be one of the top cost segregation boutique firms in the country. It’s a sizeable concentration of technical expertise, proven track records and client-focused service.”