Archives for February 2011

Cherry Bekaert & Holland Adds 100+ Partners and Staff

Richmond, Va.-based Cherry Bekaert & Holland LLP (FY10 net revenue of $98.4 million) expanded by hiring more than 100 partners and employees from Berenfeld, Spritzer, Shechter and Sheer, the Coral Gables, Fla., firm that dissolved earlier this month.

Joining CBH are former Berenfeld partners Michael Spritzer, Emery Sheer, Philip Shechter, Marc Berenfeld, Ana Martinez, Madeline Elias, Monte Gordon, Mike Everett, Vicki Simmons-Hinz, Gus Perez, Isabel Goldberg, Bob Bedwell, Jeff Lefcourt and Jack Yesner.

In November, CBH announced that it had added seven partners and 30 professionals through the acquisition of Roanoke, Va.-based McLeod & Co. In July, it expanded its Atlanta presence through the acquisition of Braver Schimler Pierce Jenkins LLP, adding 12 partners and 90 professionals. “As part of our growth plan, we are looking at strategic acquisitions,” says August Keller, CBH’s director of marketing, strategic growth and specialization. “We are looking at adding experienced talent, and we want to grow organically as well.”

On Feb., 1 CB&H acquired Burrus Paul & Turnbull, of Virgina Beach, Va.

Two partners and nine professionals will join CB&H. After the acquisition, CB&H will have nine partners and more than 80 professionals serving clients from offices in Virginia Beach, Va., downtown Norfolk, Va., and Newport News, Va. 

“Expanding our service reach into Norfolk and Newport News provides us with a solid foundation to support our continued growth and enables us to better meet the needs of our local clients,” says CB&H MP  Howard Kies.

Weaver Expands Services With Acquisition

Fort Worth, Texas-based Weaver (FY10 net revenue of $65.3 million) expanded its service offerings in the petroleum and renewable fuels industries through the merger with L.T. Hawthorne & Associates Inc., of Houston late in 2010.

“The merger of Hawthorne with Weaver will add strong industry knowledge and improved positioning in our renewable and energy compliance practice,” says Wade Watson, partner in assurance services and leader of the renewable and energy compliance practice at Weaver.

“With the growing regulatory burden facing the petroleum and renewable fuels industries, the addition of Hawthorne staff gives us the much-needed ability to expand the scope of our consulting services.”

Weaver’s renewable and energy compliance practice provides a variety of attestation and advisory services to the energy industry, including attestations required by the Environmental Protection Agency, compliance audits of independent and refinery laboratories and Marine Preservation Association (MPA) dues attestations, which are required for MPA members.

Wipfli Expands Its Illinois Footprint

Milwaukee-based Wipfli LLP (FY10 net revenue of $114 million)  acquired Blascoe & Associates, of Rockford, Ill. in late December.

Blascoe founder, Kim Blascoe and five staff will join Wipfli’s Rockford office. This was the fourth acquisition in 2010 for Wipfli.

The combined firm will have over 950 associates, including 133 partners, and 21 office locations, and is a member of PKF North America and PKF International.

BlumShapiro Gains Presence In Massachusetts

West Hartford, Conn.-based BlumShapiro (FY09 net revenue of $45 million) expanded its presence with the acquisition of Rockland, Mass.-based Needel, Welch & Stone.

“Our objective is to use that as an entree into the Massachusetts market with the intent of expanding it over the coming years,” says Thomas Devitto, BlumShapiro’s chief marketing officer. “We’ve had clients in New England for some time, and Massachusetts has become a very active market for us, so it made sense for us to expand into that area.”

BlumShapiro has 188 employees at its West Hartford headquarters and another 70 workers at its Shelton office, and will keep NWS’s 30 employees in Rockland, Devitto says.

Top 200 Firm Grows With Merger

Windham Brannon (FY09 net revenue of $17.4 million) and Tarpley & Underwood (FY09 estimated revenue of $8 million) both of Atlanta merged in January.

The combined firm will rank among the top 10 firms in Atlanta, with more than 140 staff, 40 of which transitioned from T&U. The merger is a “true merger,” says T&U MP Jim Underwood, “with continued ownership by both groups.”

Rosen Seymour Shapss Martin & Co. Expands With Merger

New York-based Rosen Seymour Shapss Martin & Co. (FY09 net revenue of $45 million) acquired Kahn, Hoffman & Hochman, of White Plains, N.Y. 

The firm will operate under the name Kahn Hoffman & Hochman, a division of RSSM LLP. The merger adds 40 accountants to RSSM.

Gary Kahn, Enid Hoffman, Michael Hochman, Richard McGuinness, William Hughes and Maryann Schugmann joined RSSM as partners. Hochman will be the PIC of operations in the New York City office.

Morrison, Brown, Argiz & Farra Acquires New York Firm

Miami-based Morrison, Brown, Argiz & Farra (FY09 net revenue of $64.2 million) merged with New York-based ERE LLP.

With the deal, MBAF will grow to about 430 employees. For about a year, ERE will be MBAF-ERE CPAs, a division of MBAF. After a year, all offices will be known as MBAF.

“This is very significant in the history of our firm,” says CEO and MP Tony Argiz. “We’ve never had a merger this big. This gives us a New York presence. In the past, not having a New York presence has hampered us somewhat.”

MBAF has offices in India, Baltimore and in three Florida cities, Miami, Boca Raton and Fort Lauderdale. ERE has offices in New York City, Valhalla, N.Y., Boulder, Colo., and Chicago.

Aronson & Company Changes Name

Aronson & Company, Rockville, Md., (FY10 net revenue of $54.3 million) changed its name to Aronson LLC, effective Jan. 1.

This change coincides with the company changing its operating entity to a limited liability company.

“This will allow us to formally identify ourselves in the marketplace in the same manner that the market has been identifying us commonly for years – simply as ‘Aronson,’ says Jeffery Capron, Aronson’s MP. “The timing of the LLC conversion allowed us to simplify our name, while still retaining our founding identity.”

Institute of Management and Administration (IOMA) Ceases Accounting Publications

Press Release: The impact of the economic environment and its subsequent effect on business viability is apparent to all of us in the accounting industry. Downstream businesses, such as Accounting Office Management and Administration Report are also suffering from downturn-related difficulties.

Regretfully, the Institute of Management and Administration (IOMA) has no choice but to cease producing the portfolio of products serving the accounting industry. All of our newsletter, research and webinar products, including Accounting Office Management and Administration Report will cease production.

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