Two Jacksonville, Fla.-area practices, located just a mile away from each other, announced that they will merge in a deal effective Nov. 30.
Patrick & Robinson LLC, a 24-year-old CPA firm with emphasis in individual and small business accounting, including construction, manufacturing, and estate planning, has acquired the 25-year-old accounting practice of Carter & Co. PA, with service concentrations in small-business accounting, restaurants, construction and manufacturing.
Both firms also offer tax prep, audit and succession planning services. The newly combined firm, which will operate under the Patrick & Robinson name, is projected to gross more than $1 million next year. Financial terms of the deal were not disclosed.
Carter managing partner Mike Carter, who is leaving the CPA business to concentrate on other ventures, will stay with the firm through April as part of a transition period. In a statement, Carter said that he will be hiring the combined firm to serve as CPAs for his mortgage lending company.
Patrick & Robinson plans to retain all other Carter employees, and the firm will continue operating from both offices. The merger will effectively double the firm’s staff, to about a dozen employees.
