MCM CPAs merges in K.B. Parrish
MCM CPAs & Advisors has expanded into Indianapolis by combining with K.B. Parrish & Co. LLP, effective August 1.
MCM, formerly known as Mountjoy Chilton Medley, is based in Louisville, Ky. The firm has nearly 350 employees in five offices, including Jeffersonville, Ind.; Louisville and Lexington, Ky.; and Cincinnati, Ohio. As part of the deal, approximately 30 KBP employees, including four partners, will join MCM.
Financial details of the transaction were not disclosed. MCM has annual revenues of approximately $49 million, while K.B. Parrish has revenues of around $5 million. MCM ranked 80th on Accounting Today’s 2017 list of the Top 100 Firms. Last year, the firm expanded its presence in Ohio by adding Elliott Davis Decosimo’s Cincinnati practice and in Kentucky by adding Preferred Accounting Services.
“It has been a long-term strategic goal of the firm to continue growth up the I-65 corridor and into Indianapolis,” said MCM managing partner Diane Medley in a statement. “Our industry and consulting expertise are great fits for the Indianapolis market, and by adding new members of the K. B. Parrish & Co. firm to our existing team, we’ll be able to continue raising the bar for all of our clients, with more expertise, more capabilities and more resources.”
K. B. Parrish & Co. dates back to 1952 and is now the 17th largest accounting firm in Indianapolis. The firm services businesses of various sizes, but focuses on four main areas: auto dealerships, real estate companies, not-for-profit organizations and employee benefits, which will fit with MCM’s current practices. MCM is a member of the PrimeGlobal association of independent accounting firms and has won Best Places to Work awards in several states and cities.
“We’re excited to be joining MCM,” said KBP partner Rebekah Payne in a statement. “MCM’s mission is to help both its clients and its team succeed, providing a broad-base of high level expertise and service to those it serves, and a Best Places to Work-winning culture to its team members. I’m really looking forward to seeing what we can accomplish together.”
The combined firm in Indianapolis plans to offer the traditional array of tax, assurance and accounting services, while continuing to cater to auto dealerships, real estate firms, not-for-profits and employee benefits.