PMB Helin Donovan has merged in Vink Teague & Associates, expanding the Austin, Texas-based firm’s presence in Dallas.
The merger takes effect immediately, the firms said Friday. Financial terms were not disclosed.
“Dallas has been on our radar screen for quite some time,” said PMB Helin Donovan managing partner Tom Wilkinson in a statement. “We put our feet on the ground by opening an office in 2009, but our strategy has always been to cement our footprint by finding ideal companies and aligning forces. As a bunch of CPAs, we go about this as methodically as one would expect. This marks the alignment of two companies that fit well together.”
The combination effectively triples the number of accounting professionals that PMB Helin Donovan has in Dallas, from seven to over 20, plus support staff. The goal is to have up to 50 employees in the next three to four years, through organic growth and mergers.
Dallas operations will continue to be led by Jeff Jamieson, partner-in-charge of the Dallas office. VTA managing partner Mary Hennington will join PMB Helin Donovan’s firm-wide executive committee. She, along with fellow partners James D. Hodges and Kathy Still, are now partners with PMB.
VTA was founded in 1986 and focuses on family-held and privately held mid-market businesses. Clients include law firms, distribution, service and manufacturing companies, private schools and not-for-profits.
“Even before we were approached by PMB, we were realizing that in order for us to be a viable player in our industry in the future, we would need to align with another firm in some capacity,” Hennington said. “There’s definitely a consolidation trend going on right now within the CPA industry. The mom and pop shops—often launched in the 1970s and 1980s—aren’t able to compete because of the way business itself has changed. Business has become more global, rules have become more tedious requiring more sophisticated software tools in need of constant updating, and clients need more depth than the one person they’ve turned to for 20 years.”
PMB Helin Donovan has crafted a financial package for small CPA firms like VTA, with partners nearing retirement age. The package enables partners who have spent their careers building a firm to have a succession plan that ensures continued service to their clients, while solidifying their financial futures. Jamieson said he is in merger talks with other, undisclosed Dallas firms as well. The firm now has more than 120 employees in six offices, including Houston, San Francisco, Chicago and Seattle.
