Archives for 2019

BKD Names New M&D Growth Initiative Leaders

Tim Reynolds

Tim Reynolds

Springfield, Mo.-based BKD LLP (FY19 net revenue of $662.9 million) Manufacturing & Distribution Group (M&D) has announced that managing director Tim Reynolds is the new leader for the food and agribusiness practice and partner Tim Jackson is the new leader of the technology and software practice.

Reynolds will continue to provide tax and operational consulting services to a variety of clients in the food industry. Reynolds has several years of experience working with food manufacturers, producers, retailers and wholesalers across the country and joined BKD earlier this year after working for a large accounting firm.

“I have a strong passion for the food industry and am excited to share my expertise across the firm with our food and agriculture-serving professionals. The food industry is currently experiencing unprecedented challenges across all channels and I’m looking forward to helping BKD create solutions and opportunities for our clients and our people,” says Reynolds.

Tim Jackson

Tim Jackson

Jackson currently leads the Dallas office’s technology team. With more than  25 years of experience, his primary focus is working with private equity-backed technology companies in a variety of industries, including those publicly traded.

“I’m very excited to lead the technology and software group and believe that we’ll continue to find new ways to address the complex and evolving needs of tech-savvy consumers,” Jackson said.

Their predecessors both received promotions. Partner Bryan Wright became the new East Region M&D industry leader and partner John Kmetz is the new leader of the firm’s private equity practice.

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M&L CPAs to Merge With Adams Brown Beran & Ball

Great Bend, Kan.-based Adams Brown Beran & Ball (FY18 net revenue of $24.2 million) announced that Wichita, Kan.-based M&L CPAs, will become part of ABBB, expanding the firm’s Kansas presence to 15 offices.

The combined firm will now have 32 professional staff and a total staff of 46 in Wichita. Total employees in the firm will grow to 205. M&L CPAs also has an office in El Dorado, Kan.

“We have identified key growth areas for the firm, and Wichita is one of those areas,” says MP Brian Staats. “This increased presence will allow us to help more businesses within our industry specialties with customized solutions.”

With all the changes happening within the CPA industry, M&L recognized the need to put itself in a position to better help its clients with deeper solutions.

“There is a lot of synergy between our firms,” says Sam Seward, founding shareholder of M&L. “Together, we are a much stronger firm in terms of what we can offer to businesses, as well as to our team members.”

All current M&L shareholders ­– Seward, Curtis Dean and Arlen Hamilton – will be joining the firm’s leadership team.

“Over the years, other firms have reached out to us about a possible merger,” Seward says. “We always said ‘no,’ but we really like ABBB’s dedication to the Wichita market and its commitment to serving smaller communities like El Dorado. We are confident this is a good fit, allowing us to continue serving our clients while providing new opportunities to our team.”

More news from Adams Brown Beran & Ball

LBA Haynes Strand Combines with Aprio

Atlanta-based Aprio (FY18 net revenue of $96.1 million) has merged in Matthews, N.C.-based LBA Haynes Strand (FY18 net revenue of $9.3 million).

The combination of Aprio’s comprehensive services with LBA Haynes Strand’s deep presence in the Carolinas creates tremendous value for clients, the business and team members, the combined firm announced.

Nearly 70 LBA Haynes Strand team members across five North Carolina offices – Charlotte, Greensboro, Mount Airy, Winston-Salem and Asheboro – joined Aprio, including 13 partners. All team members operate from their North Carolina offices as Aprio.

The merger allows expansion of LBA Haynes Strand’s enterprise risk management, capital advisors and dental practices nationally, while offering clients access to greater specialty services through Aprio. The move helps Aprio expand its coverage in the Carolinas and its industry specializations in manufacturing and distribution, real estate, technology and education.

“The addition of the LBA Haynes Strand team expands Aprio’s technical depth and expertise, which will enable us to better help our clients navigate complex business challenges and achieve their growth and profitability goals,” says Aprio CEO Richard Kopelman.

LBA Haynes Strand CEO John Bly, who serves as the regional MP for the Carolinas, says, “In today’s business environment, our clients have a need for more sophisticated and specialized tax and consulting services. By joining Aprio, we gain access to more service offerings and resources that will benefit both clients and team members.”

Jeff Kapelus, president of Capstone Search Solutions, the advisor to both firms on the transaction, says, “Aprio and LBA Haynes Strand each share strong leadership, people-centric cultures, a focus on innovation, and a passion for client service and responsiveness that will undoubtedly make this combination a success for team members and clients alike.”

Since 2013, Aprio has combined with seven firms and plans more deals in the years ahead.

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Virginia Firm Gregg & Bailey Merges With Brown Edwards

Roanoke, Va.-based Brown Edwards (FY19 net revenue of $49.9 million) announces that Gregg & Bailey (G & B) of Midlothian, Va., is joining the firm on Jan. 1.

The G & B partners Brad Bailey and Beth Llewellyn and their employees will become part of the Brown Edwards team and a significant number of G & B’s clients are expected to also transition, Brown Edwards announced.

“This merger positions us to provide a greater depth of expertise and resources to serve our clients, especially those in the Richmond area, strengthens Brown Edwards’ position as one of the largest independent CPA firms in Virginia, and expands our geographic footprint into a vital market,” says CEO Jason Hartman. “More important, we are adding well-respected partners and staff who have provided high quality service and value to the region over many years.”

Bailey adds, “We recognized that the next step for our team members and clients was to merge with a firm that could enable us to expand the level of services we can offer to our clients, but wanted to be part of a firm that is committed to high quality and service as we are.” G & B clients will continue to work with their existing contacts.

An IPA 100 firm, Brown Edwards provides assurance, tax and business advisory services to a diverse clientele throughout Virginia, West Virginia and Tennessee. The Richmond-area office will be the eighth office in Virginia and 11th overall.

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Doeren Mayhew Expands Houston Presence Through Acquisition

Troy, Mich.-based Doeren Mayhew (FY18 net revenue of $75.7 million) has completed its acquisition of Evans & Chastain of Houston. The acquired firm has begun operating as Doeren Mayhew.

The deal not only expands the firm’s presence in the Houston market but also extends its service offering in the real estate sector. Since its founding in 1992, Evans & Chastain has offered tax, audit and business advisory services for home builders and real estate professionals and developers across the Texas region.

“When this transaction was initiated, a key factor taken into account was whether this was the right solution, not only for our clients, but for our employees as well. I’m confident that working with a globally recognized firm like Doeren Mayhew, we will be able to introduce new service capabilities and resources to our clients beyond our current capacity,” says Robert Chastain, co-founder of Evans & Chastain.

All personnel will become Doeren Mayhew employees, while Chastain will continue his involvement with Doeren Mayhew on a consulting basis, assisting the firm’s real estate clients in deal structuring and analysis, market assessments and financial operations.

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Sikich Expands into Washington, D.C., Area with Acquisition

Naperville, Ill.-based Sikich (FY18 net revenue of $168.7 million) has agreed to acquire Alexandria, Va.-based Halt Buzas & Powell (HBP), which just marked its 50th anniversary.

The deal, scheduled to close Dec. 31, marks Sikich’s entry into the Washington, D.C., and Baltimore metro markets and expands its presence on the East Coast.

“Adding the talented HBP team will strengthen our accounting, tax and audit services and advance our growth across the country,” says Sikich CEO Chris Geier. “HBP’s expertise in not-for-profit accounting and their outsourced CFO services complement our team’s strengths.”

HBP offers audit and assurance, business consulting, outsourced accounting, tax and information technology services to business across industries. The firm specializes in working with not-for-profit organizations and government contractors. It has specialized experience offering outsourced CFO services to public charities and trade associations.

“The synergies between our firm and the Sikich team will allow us to bring new opportunities to our clients and employees,” says HBP MP Andy Powell. “Much like our firm, Sikich places great emphasis on trust, integrity and commitment to client success.”

Approximately 50 HBP employees will join Sikich and continue to work from their offices in Alexandria and Crofton, Md. Powell and Marco Fernandes have been admitted to Sikich as partners.

This deal comes on the heels of Sikich’s acquisitions of Freyberg Hinkle Ashland Powers & Stowell, a CPA firm in Brookfield, Wis., Scanlan & Leo of Oak Brook, Ill., and technology consulting firm NexGen Consultants.

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Caler Donten Levine Expands in Florida

West Palm Beach, Fla.-based Caler Donten Levine Cohen Porter & Veil (FY18 net revenue of $22 million) is expanding with a new office in Stuart, Fla. Tax shareholders Thomas Pence and Martin Woods, and senior tax manager Patrick Mangan will lead the team at the new location.

“Since our initial launch in 2017 in Martin County, our practice has experienced extraordinary growth,” says Pence. “Our commitment to providing superior accounting services and active community outreach has facilitated the need to expand into a larger, more permanent space in Stuart.”

Pence, who has been with Caler Donten since 1996, focuses on corporate, partnership and individual taxation. Woods has been with the firm since 2011 and provides tax compliance and tax planning services to business and individuals, as well as the restaurant and hospitality industry. Mangan focuses on income and estate tax planning and compliance, and individual, trust and partnership taxation. He has been with the firm since 2016.

Caler Donten provides accounting services in the areas of audit, tax, family office, business valuation and litigation support. The firm was recently named the “Best of the Best,” “Fastest Growing” and “Top 200 Firm” by INSIDE Public Accounting.

Calvetti Ferguson Acquires Kapp & Miller

Houston-based Calvetti Ferguson of Houston (FY18 net revenue of $15.3 million) announces the acquisition of Kapp & Miller, effective Jan. 1.

Kapp & Miller of Fort Worth, founded in 1988, will bring six team members to the tax and accounting services teams.

According to partner Catherine Miller, “Calvetti Ferguson’s culture of building strong client relationships, advising entrepreneurial, growth-oriented clients and treating team members like family is a wonderful match for our firm.”

Partner Lois Kapp adds, “Whether you’re an individual, family office or business owner, we know our clients will enjoy the integrated service experience Calvetti Ferguson will provide.”

Calvetti Ferguson MP Jason Ferguson says, “Our growth strategy over the last two years has been to increase our brand awareness in the Dallas-Fort Worth metroplex. With the completion of this acquisition, we are making great strides toward that goal.”

Calvetti Ferguson provides accounting, advisory, assurance and tax services to private and public companies, private equity funds, family offices and high-net-worth individuals. It is an IPA 300 firm and a member of PrimeGlobal.

Christine Miller Elected to Janover’s Executive Committee

Christine Miller

Christine Miller

Garden City, N.Y.-based Janover LLC (FY18 net revenue of $31.3 million) announces that partner Christine Miller has been elected by the partners to Janover’s executive committee to serve a two-year term, effective Jan. 1.

Miller, the firm’s first female partner, has been with Janover for almost 24 years. She serves on its quality control committee and oversees engagement training and assurance team projects. She looks for new ways to develop and grow firm business, and she makes it a priority to mentor and train junior associates, the firm announced.

“She brings with her fresh ideas, new perspectives and additional energy to this committee,” says MP Mark Goodman. “I have no doubt that she will continue to contribute to the growth and strength of our firm in her new role, now and in the future.”

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CPAmerica Gets New Board Chair

Ernie Gelpi

Ernie Gelpi

CPAmerica, an accounting association of independent CPA firms, has announced that the new chair of the board is Ernie Gelpi, lead partner of Kushner LaGraize (FY18 net revenue of $11.3 million) of Metairie, La.

He succeeds Sharon Thompson, MP of Hughes Snell & Co. of Fort Myers, Fla.

The new board will have its first meeting of the year Jan. 21 at CPAmerica headquarters in Gainesville, Fla., to discuss 2020 initiatives and other long-term goals.

Gelpi says, “We have improved client service, staff retention and firm profitability in large part due to the member sharing we’ve gained at CPAmerica’s events, staff training, sharing calls and discussion lists. As chair I look forward to helping the association continue to grow and expand services to its members.

Greg Hammonds, leading partner of McDonough, Ga.-based Whaley Hammonds Tomasello Accountants and Advisors (FY18 net revenue of $5.8 million) located in has been elected to the vice chair/chair-elect position.

Along with Gelpi, Hammonds and Thompson, returning board members include: James Barrett of Meyers Brothers Kalicka; Dane Floyd of Aldridge Borden & Company; Brian Malthouse of VonLehman & Company; and Frank Monaco of 415 Group.

The two newly elected board members include Jackie Cardello of GRF CPAs & Advisors and Greg Denning of Larson & Company.

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