Archives for February 2012

Williams Adley Names New Partner

Oakland,Calif.–based Williams Adley has named Audrey Elbert to Partner. She joined Williams Adley in 1992, and possesses a wealth of knowledge and experience in audit and assurance services for government, non-profit, and other business entities. In her new role as a Partner, Audrey will manage engagements, coordinate staff development and peer reviews, as well as focus on the most important aspect of our business, client service. Audrey holds a bachelor’s degree in Accounting from Florida A&M University, along with a law degree from Boalt Hall School of Law, University of California-Berkeley.

The Engagement is Over. Calif., Firms Back Away From Merger

In October, 2011, San Francisco-based Burr Pilger Mayer (net revenues of $66 million) and Windes & McClaughry (net revenues of $24 million) of Long Beach, Calif., announced their plans to merge.

The merger of BPM and W&M would have created the second largest firm on the West Coast, behind Seattle-based Moss Adams (net revenues of $316 million), with combined revenues of $100 million.

In early Feb., the firm’s backed away from the merger, stating “We believed that combining both firms was the proper strategic direction, but, unfortunately, we could not come to agreement on all of the key issues,” says Windes MP, John Di Carlo.

“We are disappointed that we are not able to combine these two firms. Both organizations worked diligently toward the merger. We just came a little short of the goal line,” says Steve Mayer BPM MP.

BPM was determined it could replicate its model of success – building a presence in the Bay Area – and transfer that prototype to Southern California. But to do so, they needed to merge with a well-established firm, not sure who the next target will be for BPM. Mayer told IPA that after extensive market research BPM realized that there were no dominant firms inSouthern California.

Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the merger commented, “In the end it simply made more strategic sense for both firms to remain independent. I think both firms will continue to grow both organically and through smaller mergers as well as keep the close relationship they have already built.”

What’s next for BPM? Mayer confirmed the speculation of the longer-term expansion strategy. “It’s a natural for us [BPM] to go outside of California. Colorado, Arizona,Texas are all possible,” Mayer says.

MNP Continues Acquistion Expansions

Calgary, Alberta-based MNP (FY11 revenues of $353 million) acquired the following firms in January:

Montreal-based Horwath Leebosh Appel, an affiliate firm of Crowe Horwath, including the firm’s insolvency division Appel and Co. Inc. (eight partners and 67 staff); EvansMartin LLP, Mississauga, Ontario (six partners and 30 staff); Toronto-based William McGuire AML Inc., one of Canada’s largest anti-money laundering firms; and Hemingway Silver, Winnipeg, Manitoba (two partners and 10 staff).

WeiserMazars Mergers In Garden City, N.Y. Firm

New York-based WeiserMazars (FY10 net revenue of $140 million) acquired Biscotti, Toback & Co., Garden City, N.Y.

A team of eight partners and 32 staff joined WeiserMazars on Jan. 1.

“Lou Biscotti and his team are among the most highly regarded leaders in accounting and advisory services for Long Island’s substantial food and beverage sector,” says WM’s MP Doug Phillips.

Marcum Continues Expansion in Conn.

New York-based Marcum LLP (FY10 net revenue of $250.8 million) acquired the New Haven, Conn. firm of Konowitz, Kahn & Co. Seven partners and more than 30 staff will join Marcum’s existing New Haven office.

Marcum first entered the Connecticut marketplace in 2010 when it acquired the 150-member New England practice of UHY Advisors Inc. – including its Hartford, Conn., New Haven and Boston offices.

Carr Riggs Acquires Southern Ga. Firm

Enterprise, Ala.-based Carr, Riggs & Ingram (FY10 net revenue of $85.8 million) merged in BowenPhillips LLP, of Tifton and Valdosta, Ga.

CRI has more than 30 office locations throughout Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, Tennessee, and Texas, with  more than 700 professionals.

“Expanding into the So. Ga., market enhances CRI’s service abilities for existing clients throughout the state,” says William Carr, chairman and MP of CRI.

“Given its geographic proximity to our established offices inAtlanta, Alabama, and Florida, Georgia was a logical choice for continued CRI expansion. And the BowenPhillips team is simply a cultural fit with CRI’s values and Southern roots.”

WithumSmith+Brown Expands in Manhattan

Princeton, N.J.-based WithumSmith+Brown (FY11 net revenue of $76.3 million) acquired New York-based EisnerLubin LLP, with about $11 million in net fees, nine partners and 55 professionals.

Robert Simon, EisnerLubin’s former MP, will continue to be the PIC of the New York Cityoffice. “We have been seeking a New York City-based partnership for a long time to solidify our position in Manhattan in order to better serve – and expand – our metropolitan New York client base,” says WS+B MP William Hagaman Jr.

PMB Expands Presence In Dallas

Austin, Texas-based PMB Helin Donovan (FY10 net revenue of $12 million) acquired Vink Teague & Assoc., of Dallas,  expanding the firm’s Dallas presence.

“Dallas has been on our radar screen for quite some time,” says PMB MP Tom Wilkinson. “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.

The combination triples the number of professionals in the firm’s Dallas office, from seven to more than 20, plus support staff.

The firm’s Dallas operations will be led by Jeff Jamieson, PIC of theDallasoffice. VTA MP Mary Hennington will join PMB’s firm-wide executive committee. She, along with fellow partners James 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.

Hill, Barth & King Makes Pa. Acquisition

Boardman, Ohio-based Hill, Barth & King (FY10 net revenue of $33.5 million) acquired Carson & Co., of Sewickley, Pa.

Carson’s John Mavero joined HBK as a principal. The staff from Carson & Co. will maintain its office in Sewickley while integrating with HBK’s Wexford, Pa., office.

Chris Allegretti, HBK MP and CEO, says the staff of Carson brings “years of experience in the construction industry as well as team members with extensive audit and tax knowledge.” With the addition of Carson & Co., HBK and its and HBKS Wealth Advisors employ more than 300 professional and support staff at its offices in Pennsylvania, Ohio and Florida.

AICPA Teams Up With Telligent to Increase Social Networking

Telligent, a leader in social community software for the enterprise, partnered with American Institute of Certified Public Accountants (AICPA) to create the leading social networking site for aspiring accountants, This Way to CPA, which is designed to increase awareness of and drive recruitment efforts for AICPA.

“We are expanding our reach with social networking to encourage talented students to invest in becoming a CPA and eventually a member of the AICPA,” said Scott Moore, Sr. Manager, College and University Initiatives, AICPA. “This Way to CPA is a one-stop shop for accounting students to network with peers and discuss career-related topics.”

This Way to CPA is a first-of-its-kind online community that supports the personal development of accounting students and the profession by giving students a place to network with professionals and peers and discuss important topics such as how to land internships, what the accounting career path is like and advice for passing the CPA exam . Almost 23,000 people visit the community each month and over 57% return to the site to stay connected to the community and build relationships with peers.

“This Way to CPA weaves a conversational, fun personality into a creatively-designed community that provides immense value to students,” said Justin Couto, CEO of Couto Solutions, an elite design development firm that designed and implemented AICPA’s online community.

AICPA integrates its community website to Facebook, Twitter and YouTube to ensure that members know how and where to stay involved with AICPA. AICPA encourages discussions on popular social media sites and drives potential and current members to its community for more in depth accounting conversations and access to exclusive opportunities, like scholarship opportunities and group accounting competitions.

With this unified social media strategy, AICPA creates more meaningful, manageable interactions that it can measure and evaluate. 19% of visitors return five times or more each month, which shows that community members are actively digesting content and becoming highly engaged with AICPA’s messaging.

“AICPA is a model for organizations trying to figure out how to create a unified, manageable strategy for social media and technology,” said Wendy Gibson, Chief Marketing Officer, Telligent. “AICPA is positioned to increase its member base because it is building strong bonds with the incoming Generation Y workforce and delivering value.”