RSM to acquire Tate & Tryon
RSM US LLP, a Top 5 Firm based in Chicago, is adding Tate & Tryon, P.C., a Washington, D.C.-based accounting firm that focuses on providing nonprofit organizations with audit, tax, accounting outsourcing and advisory services, and its wholly owned subsidiary, T3 Information Systems, LLC, effective Jan. 1, 2020.
The deal is expected to extend RSM’s nonprofit client base, especially professional, trade and membership associations and charitable organizations, and its presence in the Washington, D.C. market. It will bring 11 new partners, two principals and nearly 140 professionals to RSM. RSM also has six offices in the Mid-Atlantic region, with three offices in the immediate D.C. metro area, including 58 partners and principals and 586 employees.
Financial terms were not disclosed. RSM ranked 5th on Accounting Today’s 2019 list of the Top 100 Firms, with $2.14 billion in annual revenue. Tate & Tryon ranked 11th on Accounting Today’s 2019 Regional Leader list of the Top Firms in the Capital Region, with $26.78 million in annual revenue.
The deal will augment RSM’s technology consulting practice with Tate & Tryon’s T3 team, which specializes in Microsoft Dynamics (GP, SL and 365BC), Sage Intacct, corporate performance management solutions, and custom application development. RSM is the largest Microsoft Dynamics reseller in the U.S., and the addition of the T3 team expands its presence in that field. On top of that, Tate & Tryon’s outsourced accounting services practice will significantly extend RSM’s practice, with an established outsourced accounting services team in D.C.
“This is an exciting opportunity for RSM as we significantly grow our nonprofit industry practice nationally, and our technology consulting and outsourced accounting services practices in the Washington, D.C. metro area,” said RSM US Managing Partner and CEO Joe Adams in a statement. “The outstanding leaders and people at Tate & Tryon bring keen insights and specialized expertise and share a similar culture and commitment to client service and people development.”
Tate & Tryon Managing Partner Charlie Tate, Senior Partner Mike Tryon and the firm’s other partners and staff will join RSM US LLP when the deal closes in the New Year.
“We are excited to take this important and bold step in our growth to benefit our clients and our people with the added services, resources and opportunities RSM can provide,” said Tate. “As one of the first D.C.-based CPA firms to focus exclusively on serving the nonprofit industry, we have always aimed to be the best at helping our clients stay a step ahead to not only survive, but thrive, with strategic insights, services and technology solutions. As part of RSM, we can meet our clients’ needs even more comprehensively while providing the same exceptional service they expect and offering our people new opportunities for growth and development.”
Koltin Consulting Group CEO Allan Koltin advised both firms on the deal. “Tate & Tryon had several national and regional firms that wanted to enter into a deal with them,” Koltin stated. “While all firms were impressive, in the end, the leaders at Tate & Tryon were most impressed with RSM’s culture, leadership and the potential growth opportunities for their people. Both Tate & Tryon and RSM are already recognized as two of the preeminent firms serving nonprofit organizations in the Greater Washington, D.C. market, and this combination will make them an even stronger force in the marketplace.”
RSM US LLP also recently expanded in Florida by adding Gregory, Sharer & Stuart, a firm based in St. Petersburg.