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KROST Announces Merger with BPE&H

Pasadena, Calif.-based KROST (FY18 net revenue of $33.8 million) has merged in BPE&H of Woodland Hills, Calif.

Seven principals will join the leadership team at KROST, including Scott Eisner, Martin Belak-Berger, Bob Price, Phil D’Amico, Scott Gilmore and founding BPE&H principals Jerry Block and Jane Plant. The merger adds 30 employees, expanding KROST to 200 team members and increasing its presence in the thriving Woodland Hills area.

The former BPE&H staff will remain at their existing office until next summer when staff from the two offices – KROST also operates an office in Woodland Hills – will move into a new space together.

“Joining with KROST makes sense from a resource standpoint. We now have in-house recruiting and other corporate support systems to alleviate workload on our leadership so we can spend more time with our clients. The firm’s industry task forces are also a great complement to our manufacturing and real estate expertise,” says Belak-Berger.

KROST MP Greg Kniss says, “Merging with BPE&H made sense for us on several levels. Their mission and vision, as well as dedication to superior customer service, resonates with our core values and the principles that we stand by here at KROST. Our tax, accounting and advisory teams will benefit from the added resources; all of which will allow us to continue to support our clients.”

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KROST Admits So Sum Lee to Principal

So Sum Lee

So Sum Lee

Pasadena, Calif.-based KROST CPAs and Consultants (FY17 net revenue of $33 million) has admitted So Sum Lee as a principal, joining seven others on the leadership team.

So Sum, an industry veteran who has 20 years of experience in tax and accounting, specializes in matters relating to real estate, restaurants, technology, entertainment and wholesale.

Her primary responsibilities include supporting high-net-worth individuals and businesses, providing services in the area of tax planning and compliance; estate, probate and trust tax matters; tax consulting; and more. She leads the firm’s real estate industry group.

Additionally, So Sum serves as an associate council member of the Washington D.C. Real Estate Roundtable group, a nonprofit organization focused on policy areas governing tax, capital and credit, environment and energy, and homeland security.

So Sum was born and raised in Hong Kong and is fluent in both Cantonese and Mandarin.

“As tax practice leader, I have counted on So Sum as my right hand for years. She has contributed to the growth and expansion of this practice through her in-depth knowledge and experience in complicated and unique tax matters. For the past several years, So Sum has successfully managed to split her time living between China and the U.S., all while taking excellent care of our clients, and providing us with a worldly perspective from across the globe,” says Lou Guerrero, KROST Principal.

KROST Announces Merger with Gaynor & Umanoff

Pasadena, Calif.-based KROST CPAs and Consultants (FY17 net revenue of $33 million) has merged in Gaynor & Umanoff of Los Angeles.

Two principals, Chris Gaynor and Richard Umanoff, and two directors will join the leadership team, as well as nine associates, growing the practice to a total of 170 team members. KROST has four offices in California: Pasadena, Woodland Hills, Valencia and now West Los Angeles.

“Chris, Richard and the team bring industry depth and technical expertise that will benefit our tax department immensely. With the office based in West Los Angeles, we will be able to better service our new and existing clients; moreover, our staff will have another location to shorten commute times, allowing us to recruit and retain the best and the brightest,” says Greg Kniss, MP of KROST. “Through the merger we will be able to partner with our new team to offer many of the value-added services we provide our current clients, such as M&A and capital markets, wealth management, research and development tax credits, cost segregation, green building tax incentives and more.”

Gaynor says, “There are many CPAs in this world. In order to distinguish yourself, you must provide superior service, care and diligence. When we decided it was time to make a big change for the betterment of our practice and clients, we knew we had to merge with KROST. Upon meeting Greg Kniss, we felt that we found a like-minded, larger firm to entrust our clients with and move us into the future.”

Umanoff says, “We are pleased to join KROST and leverage their many resources. This will allow us to expand our accounting and tax services, while still maintaining our focus on what matters to us most: our clients.”

KROST Expands Service Offerings with the Addition of Knadjian as Practice Leader

Pasadena, Calif.-based KROST CPAs & Consultants (FY16 net revenue of $25.6 million), an INSIDE Public Accounting 2017 Best of the Best firm, welcomed Paren Knadjian who will head up the firm’s mergers and acquisitions and capital markets service line as practice leader.

Knadjian has 30 years combined experience in mergers and acquisitions, completing more than 50 transactions on both the buy and sell side, as well as equity and debt financing expertise. Additionally, he was CEO and COO of two software as a service (SaaS) companies and CFO to companies in the health care, marketing, e-commerce and entertainment industries. He also has personal experience in M&A having co-founded two companies that were successfully sold to trade buyers.

“Strategically, we could not be happier to have Paren on board. While providing more services to our clients through the development of new practices is always our goal, we really waited until we were perfectly positioned and found the absolute best fit for the team,” says Greg Kniss, managing principal. “Paren brings a wealth of wisdom and knowledge to the firm, and his energy is unbelievable. He’s already hit the ground running. We are at ease knowing our clients’ needs and interests, as always, come first and they are in the best hands with Paren.”

“Being a member of KROST’s talented team of experts across the board in tax, accounting, audit and corporate tax incentives, I now have the ability to develop a new, elevated model of excellence in M&A advisory and professional consulting services,” says Knadjian. “Throughout my career I have helped companies grow and thrive, and now I am thrilled to connect with KROST clients, present and future, to apply my knowledge and passion to their unique situation.”

Krost Baumgarten Kniss & Gurrero Merges In Douglas Venturelli and Team

Pasadena, Calif.-based Krost Baumgarten Kniss & Gurrero (FY14 net revenue of $12 million) announced the addition of Douglas Venturelli and his employees to the practice.

“Our merger with Krost Baumgarten Kniss & Gurrero represents the coming together of two highly respected firm in the industry. With our combined expertise and resources, we will continue to provide the highest quality of service to our clients,” Venturelli says.

MP Greg Kniss says, “This merger will benefit the clients and employees of both firms. Venturelli group supports our mission in every aspect of our business and cluture.”

Krost Baumgarten Kniss & Gurrero A ‘Best Place to Work’

Pasadena, Calif.-based Krost Baumgarten Kniss & Gurrero (FY14 net revenue of $12 million), has been named one of the “Best Places to Work in Los Angles” by the Los Angeles Business Journal and Best Companies Group.

“We’ve built a firm culture that is unheard of in the accounting industry,” says MP Greg Kniss. “Our employees are engaged, well connected and committed, not just to their jobs, but to each other.”

Alex Martin Joins KBKG’s Executive Team, Leads New Practice

Alex Martin

Pasadena, Calif.-based KBKG, announces that Alex Martin has been hired to lead the new transfer pricing practice for cross-border businesses. He has been admitted as a principal and joins the executive team.

KBKG, a sister company of KROST (FY18 net revenue of $33.8 million), provides tax specialty services designed to complement traditional tax and accounting practices.

Transfer pricing is the cross-border pricing of goods, royalties, services and loans that drives how much income tax a multi-national company pays by country. With Martin at the helm, KBKG will assist U.S. and international companies in establishing, documenting and defending transfer pricing practices for the IRS and international tax authorities.

He comes to KBKG with over 22 years of international transfer pricing experience. He has worked for a Big 4 firm, a middle-market firm and at Productive Pricing LLC, his own consultancy.

MP Greg Kniss says, “Alex’s U.S. and global transfer pricing expertise broadens the scope of our tax specialty services provided to both U.S. and international clients. While transfer pricing can be a highly contentious tax issue for multi-nationals, Alex has the experience to deliver practical savings strategies for companies competing internationally. Through his unique expertise in this space, Alex will be an invaluable asset to the businesses and CPA firms we support.”

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IPA INSIDER: February 2019 News

Listed below are the Top 10 most-read stories on the INSIDE Public Accounting blog for the month of February.

  1. Grant Thornton Appoints Director for Advisory Services
  2. WSJ: Former Partner at KPMG Faces Trial in PCAOB Scandal
  3. IPA Vendor Spotlight On . . . Steve Templeton
  4. Tucker & Tucker And Rea & Associates Eye May 1 Merger Date
  5. Seattle CPA Firm Watson McDonell Joins CLA
  6. Barnes Dennig Joins With Two Firms
  7. McElderry & Associates Joins Hancock Askew & Co.
  8. Mazars USA Key Leadership Changes
  9. Prager Metis Combines With Beck Villata & Co.
  10. KROST Announces Merger with Gaynor & Umanoff

INSIDE Public Accounting Unveils The 2018 Pyramid Awards

INSIDE Public Accounting (IPA) announced that three 2018 Best of the Best Accounting Firms will be recognized with Pyramid Awards this year at the eighth annual PRIME Symposium, Oct. 23-25, in Dallas.

The award recipients this year were: Miami-based MBAF, Pasadena, Calif.-based KROST and Little Rock, Ark.-based Frost PLLC.

MBAF was the recipient of IPA’s “Pyramid of Excellence” award. This high-performing firm ranked No. 1 among the elite 50 Best of the Best Firms selected by IPA. The rankings are based on data from the 29th annual IPA Survey and Analysis of Firms, which covers finances and operations in dozens of areas. This $124.3 million, IPA 100 firm, with 66 partners and 563 staff, has been named a Best of the Best firm 17 consecutive times.

KROST, once again, received the IPA Best of the Best “Fastest-Growing Pyramid Award.” With a 29.6% growth rate, this firm has demonstrated impressive results with no mergers to enhance that number. This is KROST’s third consecutive year as an IPA Best of the Best firm and Fastest-Growing firm. The $33.1 million firm ranked No. 110 on the IPA 200 list.

Frost PLLC received the IPA Best of the Best “Pyramid Award.” The $29.4 million firm, ranked No. 124 on the IPA 200 list, first appeared as a Best of the Best firm in 1996. Since then, IPA has named Frost a Best of the Best firm 21 times. Frost sustains financial and operational excellence year after year.

View a complete listing of the 2018 IPA Best of the Best.

Subscribe to the INSIDE Public Accounting Newsletter.

Order the 2018 Benchmarking Report.

INSIDE Public Accounting Unveils The 2017 Pyramid Awards

INSIDE Public Accounting (IPA) announced that three 2017 Best of the Best Accounting Firms were recognized with Pyramid Awards this year at the seventh annual PRIME Symposium, Nov. 7-9, in Indianapolis.

The award recipients this year were: Moore Colson of Atlanta, Pasadena, Calif.-based KROST CPAs and Consultants and San Ramon, Calif.-based Armanino LLP.

Moore Colson was the recipient of IPA’s “Pyramid of Excellence” award. This high-performing firm ranked No. 1 among the elite 50 Best of the Best Firms selected by IPA. The rankings are based on data from the 27th annual IPA Survey and Analysis of Firms, which covers finances and operations in dozens of areas. This $21.7 million firm, with 16 partners and 83 staff, has been named a Best of the Best firm nine times, the last five consecutively. Moore Colson was one of the Fastest-Growing Best of the Best firms this year.

KROST CPAs and Consultants, once again, received the IPA Best of the Best “Fastest-Growing Pyramid Award.” With a 25.0% growth rate, this firm has demonstrated impressive results with no mergers to enhance that number. This is KROST’s second consecutive year as an IPA Best of the Best firm and Fastest-Growing firm, as the firm posted an extraordinary 66.3% organic growth rate in 2016. The $25.6 million firm ranked No. 137 on the IPA 200 list.

Armanino LLP received the IPA Best of the Best “Pyramid Award.” The $195 million firm, ranked No. 24 on the IPA 100 list, first appeared as a Best of the Best firm in 2001. Since then, IPA has named Armanino a Best of the Best firm 16 times, seven consecutively. Armanino sustains financial and operational excellence year after year.

View a complete listing of the 2017 IPA Best of the Best.

Subscribe to the INSIDE Public Accounting Newsletter.

Order the 2017 Benchmarking Report.