Search Results for: Cherry Bekaert

Cherry Bekaert Admits Seven to Partnership

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.3 million) admitted the following seven partners effective May 1:

  • Ryan Blankenship, tax, Nashville, Tenn.
  • Sean Carlin, transaction advisory services, Bethesda, Md.
  • Sarah Fallow, tax, Charlotte, N.C.
  • Dale Hrapchak, tax, Austin, Texas
  • Adam Hunter, assurance services, Tampa, Fla.
  • Jessica Simmons, assurance services, Raleigh, N.C.
  • Amber Teague, tax, Austin, Texas

“With the addition of these seven accomplished professionals, Cherry Bekaert’s partner group continues to grow stronger,” says CEO and MP Michelle L. Thompson. “They exemplify our firm’s shared values each day and make a difference for our clients by providing valuable guidance and support in the pursuit of their business goals.

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Cherry Bekaert Acquires Tax Advantage Group

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has announced the acquisition of the Tax Advantage Group (TAG) of Greenville, S.C. The consulting firm specializes in New Markets Tax Credit (NMTC) services.

TAG will now operate as Tax Advantage Group by Cherry Bekaert. Six professionals will join Cherry Bekaert’s credits and incentives practice.

TAG has secured over $1.7 billion in NMTC funding. TAG also offers compliance and asset management services through a series of proprietary processes. TAG professionals work with NMTC allocation applications, NMTC placement and deployment, and NMTC compliance and asset management services.

“The addition of TAG aligns with the firm’s strategic growth vision to enhance our value-added specialty tax offerings,” says CEO and MP Michelle Thompson. “TAG has a long track record of creating a substantial economic impact and making a difference for those that live and work in communities across the U.S.”

Tammy Propst, founder of TAG and now managing director with Tax Advantage Group by Cherry Bekaert, says, “This combination provides the opportunity to expand the economic impact we can have on the communities we care about.”

Cherry Bekaert says TAG has structured and facilitated NMTC investments that have created more than 14,500 direct jobs, served more than 489,000 clients, and helped create over 7.1 million square feet of new and improved commercial and industrial real estate.

Tax Advantage Group by Cherry Bekaert will operate from the firm’s Greenville office.

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Cherry Bekaert Expands Digital Advisory Services with Icimo Acquisition

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has announced the acquisition of Icimo, a data analytics and services firm.

The Cary, N.C., firm will now operate as icimo analytics, by Cherry Bekaert, and will bring more than 25 technology professionals to Cherry Bekaert’s digital solutions and services practice.

The addition increases the firm’s capabilities to help clients to use their own data to make timelier, better-informed business decisions. The technology consultants and data analysts at icimo analytics design, implement and integrate data analysis, visualization and strategy solutions for their clients.

Icimo founders Bryce Gartner, Jennifer Gartner and Matt Illuzzi will continue their leadership roles within icimo analytics, by Cherry Bekaert.

Michelle Thompson, Cherry Bekaert’s CEO and MP, says, “Our clients require innovative, technology-based solutions to help them grow, and the capabilities that Icimo adds to our overall client service offering positions us to meet these evolving and expanding needs.

The professional consulting staff of icimo analytics, by Cherry Bekaert, will continue to operate from its current Cary, N.C.

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Cherry Bekaert Admits Michael Vidal as Partner

Michael Vidal

Michael Vidal

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has admitted Michael Vidal as a tax partner in Coral Gables, Fla.

As a member of the firm’s private client services group, Vidal serves high-net-worth clients. He specializes in providing estate, gift and trust guidance along with tax, wealth preservation and retirement planning strategies.

“Michael’s diverse background is a perfect fit for our client’s needs,” notes David Appel, MP of the South Florida practice. “His experience in working with closely-held and family-owned businesses to develop and implement efficient tax strategies will be of great value to our clients planning for the successful transition or sale of their business.”

Prior to joining Cherry Bekaert, Vidal worked for a Big 4 accounting firm in the personal financial services practice.

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Reyes Admitted as Partner at Cherry Bekaert

Luis Reyes

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has admitted Luis Reyes as an assurance partner in the Atlanta practice.

Reyes will provide clients with audit, assurance and consulting services. He will serve clients in numerous industries including medical device and technology, professional services, specialty retailers, construction and real estate, health care and pharmaceutical companies.

With nearly 20 years of experience, he has extensive experience providing transaction advisory services to private equity groups, as well as strategic buyers, by performing accounting and financial due diligence in connection with mergers and acquisitions.

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Ross Burden Joins Cherry Bekaert as Assurance Partner

Ross Burden

Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.7 million) has announced that Ross Burden has joined the firm and been admitted as an assurance partner in its Nashville office.

Burden will focus his practice on providing financial statement audit, financial reporting and advisory services to growing, middle-market clients. Dawn Patrick, MP of the Nashville, Tenn., practice, says that Burden’s skills will expand assurance services to better serve clients in the Nashville area.

With extensive experience with SEC reporting and compliance, and IPO readiness, Burden provides guidance to clients on a variety of transactions, including debt and private equity financing, initial public offerings, and mergers and acquisitions. He primarily focuses on serving the health and life sciences, consumer markets, industrial and technology sectors.

Burden’s background includes working with development stage/start-up enterprises, private equity-backed companies, and both privately held and publicly traded corporations. Prior to joining Cherry Bekaert, he was an audit senior manager at a Big 4 accounting firm and previously worked for a large regional CPA firm.

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LBA Haynes Strand Acquires A Cherry Bekaert Office in N.C.

Matthews, N.C.-based LBA Haynes Strand (FY18 net revenue of $9.3 million) announced the acquisition of the Asheboro, N.C., office of Richmond, Va.-based Cherry Bekaert (FY19 net revenue of $219.3 million).

CEO John Bly says the acquisition is part of the firm’s growth plan to expand the firm’s footprint while adding high-quality team members to the Asheboro market. The firm employs nearly 80 professionals across five offices in North Carolina.

Cherry Bekaert partner Brad Crumpler has announced his retirement and will assist the firm through the transition period. Elizabeth Scott, senior associate, and Donna Smith, administrative assistant, will be joining the LBA Haynes Strand team.

LBA Haynes Strand principal Chris Bunting will continue to lead the firm’s assurance department while principals Dave Recchion and Courtney Ageon from the Greensboro office will maintain local relationships in the Asheboro community. The Greensboro office team will also be supporting clients in Asheboro.

LBA Haynes Strand plans to continue growing across North Carolina and the Southeast.

Brown Edwards Acquires Two Virginia Practices of Cherry Bekaert

Roanoke, Va.-based Brown Edwards (FY18 net revenue of $42.5 million) has announced the acquisition of two practices of Richmond, Va.-based Cherry Bekaert (FY18 net revenue of $194.7 million).

The deal, effective June 1, involves the Roanoke and Lynchburg, Va., practices. Cherry Bekaert partners Randy Burton and Richard Hedley in Roanoke will be joining Brown Edwards, as will most of the staff located in both offices. A significant number of Cherry Bekaert’s clients are also expected to transition to Brown Edwards.

“This acquisition not only solidifies Brown Edwards’ position as the largest firm in these markets, with 15 partners and 92 professional staff between the two offices, but also allows the Cherry Bekaert clients more local resources and access to immediate and local decision making,” says Brown Edwards CEO Jason Hartman. “As Brown Edwards continues to grow throughout the region, we feel these acquisitions demonstrate a firm commitment to the Roanoke and Lynchburg communities, our business and individual clients, and our employees in the area.”

An IPA 100 firm, Brown Edwards provides assurance, tax and business advisory services to a diverse clientele throughout Virginia, West Virginia, North Carolina and Tennessee. The Roanoke acquisition will result in a new office for Brown Edwards while the Cherry Bekaert office in Lynchburg will transition to the Brown Edwards office there.

“Through the efforts of many in our community, we are seeing great things happen in our local economy,” Burton says. “As evidenced by this investment by Brown Edwards, we are both committed to furthering and supporting that impact.”

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Cherry Bekaert Expands Presence in Austin Market

Richmond, Va.-based Cherry Bekaert (FY18 net revenue of $194.7 million) has acquired Flieller Kruger & Skelton (FKS) of Austin, Texas.

The deal expands Cherry Bekaert’s presence in the metropolitan Austin market. The firm entered the Austin market in early 2018 with the acquisition of Powell Ebert & Smolik, which served Austin and central Texas.

The additional acquisition of FKS adds six partners and more than 40 associates to Cherry Bekaert’s combined Austin practice. Now, the Austin area will be served by eight partners and more than 65 associates.

The firm says it has expertise in the core industry sectors of technology, life and health sciences, advanced manufacturing, distribution, real estate and private equity, all of which are key economic drivers in the Austin community.

Michelle L. Thompson

“Austin is a key growth market for us given the area’s robust economy and innovative business climate,” says CEO and MP Michelle L. Thompson. “FKS has a well-established reputation for quality work and holds similar shared values to Cherry Bekaert in relation to how they treat clients and associates. These and other factors make FKS an ideal expansion partner for us in Austin.”

FKS was founded in 1994 and serves high-net-worth individuals and businesses.

“Joining forces with Cherry Bekaert provides long-term succession and growth opportunities for both our clients and our associates,” notes James Flieller, co-founder of FKS and new partner at Cherry Bekaert. “Future generations of Austin families and businesses will now have access to the resources of one of the 25 largest CPA and consulting firms in the U.S., with the same local relationships and high service quality they’ve enjoyed in the past.”

Cherry Bekaert has admitted Flieller, Wesley Kruger, Greg Skelton, Chad Wiley, Paula Wendling and Jackie Connor as partners.

The professional staff of FKS will continue to operate at their 221 West Sixth St. location in downtown Austin for the near future. Cherry Bekaert plans to relocate other partners and staff to Austin with the goal to house the firm’s expanded local resources in one prominent office location.

Cherry Bekaert Acquires CTS Capital Advisors

Richmond, Va.-based Cherry Bekaert (FY18 net revenue of $194.7 million) announces that it has acquired CTS Capital Advisors to expand its transaction advisory and valuation services.

The deal adds 25 due diligence and valuation professionals to the Cherry Bekaert. CTS, located in Bethesda, Md., specializes in buy- and sell-side due diligence, valuation, CFO outsourcing and business advisory services. The firm has advised companies on more than 500 deals, totaling over $13 billion in transaction value.

Three CTS professionals are joining Cherry Bekaert as principals: Jeffrey Bengtson, Sean Geoghan and Sidney Glick. Bengtson, a former co-founder and managing member of CTS, is also becoming national leader of Cherry Bekaert’s transaction advisory services practice.

“The demand for our transaction advisory and valuation services continues to grow,” says Cherry Bekaert MP of advisory services Scott Moss in a statement. “The leadership of Jeff and Sean, along with the talent and experience we are bringing in with the CTS professionals, will allow us to meet this demand and expand our service capabilities in the areas of financial due diligence, global transaction advisory, valuation, and mergers and acquisitions consulting.”

Bengtson says, “The cultural fit and shared growth vision made Cherry Bekaert an ideal match for CTS. The combined service capabilities platform and national reach will greatly benefit our professionals and offer additional value to our clients.”

The CTS team will move to Cherry Bekaert’s offices in Bethesda.