Moss Adams merges in BPW&C
Moss Adams has expanded in the Albuquerque area by adding BPW&C, a New Mexico-based accounting firm, effective Nov. 21, 2018.
The deal will add 21 professionals, including one partner and two directors, to Moss Adams’ current offices in Albuquerque, where 90 people will now be working. Moss Adams has more than 2,900 professionals, including 336 partners, across the firm. Meanwhile, former BPW&C principal Eric Herrera plans to open a new firm of his own specializing in consulting and client accounting services, and five BPW&C employees will join him in the new venture.
“The addition of BPW&C’s talented staff expands the technical depth and capabilities of our Albuquerque location, enabling us to more effectively help clients navigate challenges and seize new opportunities,” said Steven Keene, partner in charge of the Moss Adams Albuquerque office, in a statement. “As a firm, they have a sterling reputation locally and throughout our industry. We’re excited to welcome BPW&C to Moss Adams.”
Financial terms of the deal were not disclosed. Moss Adams, based in Seattle, ranked 12th on Accounting Today’s 2018 list of the Top 100 Firms, with $577 million in annual revenue.
BPW&C’s origins go back to 1975. The firm provides tax, accounting, estate planning and business advisory services to middle-market and family-owned businesses, and also operates a private client services practice.
“By combining with Moss Adams, we’ll gain access to significantly more resources and service offerings that will be a tremendous benefit for our current clients and staff,” said BPW&C managing principal of Tom Broderick in a statement. “In Moss Adams, we saw a firm that shared our ideals and emphasis on technical excellence and superior client service, which was an essential factor in our decision to combine.”
Koltin Consulting Group CEO Allan D. Koltin advised BPW&C on the merger. “BPW&C and their team will make for a significant addition to Moss Adams and their Albuquerque office,” he said. “Tom Broderick is not only a dynamic and successful entrepreneur, he and his group specialize in providing their clients with deep business consulting and advisory services. Their combination with western region powerhouse Moss Adams will be a great fit culturally and provide even greater resources for their clients.”
“Tom is a prominent and well respected member of the local business community, and his impressive national leadership experience will make him a great asset both to Moss Adams and to our clients,” said Keene.
Last month, Moss Adams announced another merger, adding AsTech Consulting, a San Francisco-based cyber risk management firm. In the spring, Moss Adams also acquired Transacction Partners, a firm that specializes in outsourced finance and accounting services. Last year, Moss Adams merged in Hein & Associates, another Top 100 Firm, adding roughly $61 million to its revenues.