Accounting firm Sanford Baumeister & Frazier has acquired the CPA practice of Kent Altaras for an undisclosed sum as Altaras prepares for retirement.

Under the agreement, substantially all of Altaras's clients from his former firm, Altaras & Thompson, will become clients of SB&F. Altaras effectively sold his book of business to SB&F on Dec. 17, according to spokesperson Lauren Kwedar. His partner George Thompson will continue business as usual with his own clients.

Altaras will work on site at SB&F's Fort Worth-based accounting firm one day a week to help with the transition.

"This is a bittersweet milestone," said Mr. Altaras in a statement. "I'm very close to my clients, but I could not have selected a more qualified and compassionate successor to serve them than the SB&F partners."

Altaras senior manager Karen Abernathy, CPA, will join SB&F from Altaras & Thompson as part of the transition.

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