Glenn Burdette Acquires Radakovich Shaw & Blythe

Effective Nov. 1, San Luis Obispo, Calif.-based firms Glenn Burdette (FY16 net revenue of $11.1 million) and Radakovich Shaw & Blythe plan to combine.

Radakovich Shaw & Blythe principals Mike Radakovich, Ed Shaw, Anne Blythe and Bonnie Blanchard will join Glenn Burdette as principals. Glenn Burdette will retain RS&B offices on San Luis Obispo as “A Division of Glenn Burdette.”

“By joining forces, we not only grow in size, but Glenn Burdette gains additional expertise in business valuation and litigation support, and RS&B assures its clients that they will be served for years to come. It’s an exciting synergy,” says Glenn Burdette president and managing director Dan O’Hare.

The combined firms will have more than 80 employees representing private sector clients in agriculture, hospitality, estate and trust, real estate and construction, health care and other industries. Public sector clients include municipalities, special districts and other government bodies throughout California.

Tidwell Group to Move Atlanta Office

Birmingham, Ala.-based Tidwell Group (FY16 net revenue of $11.3 million) has announced plans to move their Atlanta office to The Palisades Office Park.

“Tidwell Group evaluated numerous locations within the Atlanta region in its search for larger office space,” says MP J. Barry Tidwell. “We ultimately selected The Palisades Office Park based on its ability to meet our needs for quality Class-A Space in the perimeter area given its central location to Atlanta, quick access to major highways, local amenities attractive to our employees, and close proximity to many clients. I would like to thank Josh McCabe (partner), and Joshua Northcutt (Atlanta MP) and the staff of Tidwell Group for all their dedicated work in helping us evaluate, design, and realize this new location. We look forward to maintaining and accelerating our company’s growth at this location over the next decade as we continue to provide quality, innovative, and value-add service and solutions to the affordable housing industry.”

TBC Admits Cesternino and McEvoy as Partners

Michael Cesternino

Michael Cesternino

Teal Becker & Chiaramonte (FY16 net revenue of $13.2 million) of Albany, N.Y., admitted two audit managers to partners. Joining the ranks of partner are Michael Cesternino and Ryan McEvoy. Both partners will be directly responsible for client account management in their new roles. Cesternino joined the firm in 2006 and McEvoy has been with TBC since 2009.

Cesternino’s main responsibilities include managing and supervising a large client base, which includes commercial entities, including automotive dealerships, wholesalers as well as not-for-profit organizations and governmental units including colleges.

Ryan McEvoy

Ryan McEvoy

McEvoy joined TBC after working for a large international accounting firm, and works with clients in a wide range of commercial industries including manufacturing, distribution, construction, retail, health care and technology.

“When it comes to exemplifying the values of hard work, integrity and honesty, these two individuals are driven to meet the goals of our company and keep our clients’ best interests in mind at all times,” says James Drislane, MP of TBC.

Seim Johnson Names New Managing Partner

Jerry O'Doherty

Jerry O’Doherty

Omaha, Neb.-based Seim Johnson (FY16 net revenue of $16.2 million) named Jerry O’Doherty as the new MP.

He succeeded Roger Thompson, who in addition to serving the firm’s clients, had been the MP since 2011. The MP chairs the executive committee, a committee of five partners that helps make final decisions on policies and procedures at the firm as well as provides recommendations and solutions to the full partner group regarding how the firm operates.

O’Doherty has been with Seim Johnson since 1998 and a partner since 2006. As a result of O’Doherty’s appointment to MP, the firm named Brent Friehauf to the executive committee.

INSIDE Public Accounting Releases Annual Ranking and Performance Metrics of the Nation’s Largest Public Accounting Firms

INSIDE Public Accounting unveils the IPA 100 – the annual list of the largest 100 accounting firms in the country.  Find out if your firm made the list. IPA subscribers and firms that completed the IPA survey will receive the August issue, which features the IPA 100, IPA 200 and IPA 300 list, the fastest-growing IPA 100 firms, and an analysis of the data. The newsletter will be released this week.

The IPA 100: Key Highlights Of America’s 100 Largest Firms – Excluding the Big 4

  • The pace of organic growth (excluding mergers) has slowed to 6.8% for the group, down from 7.5% growth reported in 2016. Acquisitions (both traditional CPA firms as well as other consulting companies) pushed the overall growth rate to 9.4%.
  • Organic growth in net income, at 4.8%, has slowed to a pace not seen since 2011. Even factoring in acquisitions, net income growth is up only 5.5% over last year.
  • Audit and accounting services in the IPA 100 continue a multi-year decline as a percentage of total revenue – to now represent an average of 37% of total firm revenue as firms grow non-traditional services.
  • Non-traditional services offered by the IPA 100 firms, such as consulting, technology and financial services, climbed to an average of 27% of total net revenue.
  • Professional staff turnover (CPAs and other client-serving staff) averaged 15.0% for the IPA 100; with one in seven IPA 100 averaging more than 20% professional staff turnover.

“In addition to the challenges already faced by the profession, the coming wave of artificial intelligence, machine learning, blockchain technology and Big Data is advancing faster than anyone would have predicted even three years ago,” says Mike Platt, principal with INSIDE Public Accounting. “Efforts are underway on many fronts to re-engineer how the business of public accounting gets done. The coming changes will be transformational.”

View the full list of the IPA 100, 200 and 300 Firms.

For copies of the 2017 IPA 100 Firms issue, customized reprints and pricing information, please contact Chelsea Summers.

Subscribe to the IPA monthly newsletter today!

Sign up for our complimentary E-News Updates and become an IPA INSIDER.

Order any of the 2017 IPA benchmarking products, including the IPA National Benchmarking Report to gain insider strategies.

About The Platt Group and INSIDE Public Accounting: INSIDE Public Accounting (IPA), founded in 1987, is published by The Platt Group. The Platt Group publishes both the award-winning INSIDE Public Accounting newsletter and the award-winning National Benchmarking Report.

MiddletonRaines+Zapata Moves Headquarters to Energy Corridor in Houston

Houston-based MiddletonRaines+Zapata (FY16 net revenue of $11.2 million) has moved its headquarters down the freeway to Houston’s Energy Corridor, in the 11th floor of Energy Tower IV.

The 26,417-square-foot space was secured by MRZ in October 2016. MRZ chose architectural firm PDR to help create a space reflective of MRZ’s unique culture, one that facilitates collaboration and innovation, the firm announced. The new space includes what is called the “MRZ Social Club,” a space comprised of two games rooms, a kitchen and a coffee bar.

The space includes open-door offices and open-concept workspaces that face the large windows, as well as focus rooms, collaboration spaces and convertible standing desks.

Of the development process, PDR’s Heather Wright says, “Working for MRZ was so unbelievably amazing. MRZ was engaged throughout the entire process and truly cared about how their unique culture would set the tone for the new workplace. PDR led discovery sessions with partners and employees, which allowed MRZ to clearly define how their workplace could be a strategic tool for the evolution of the firm.”

MRZ recognized that building a technology-designed workspace was important in recruiting the next generation workforce, energizing the existing employee base and increasing productivity. IT group Netrix helped create wireless content sharing, video conferencing, Wi-Fi capacity and scalability of systems.

The move was prompted by double-digit organic growth over the last several years and double the number of staff.

“The new space will augment our vibrant work culture and offer a unique client and employee experience,” says founding partner James Zapata.

MRZ has three Texas offices in Houston, Spring and Austin, with a satellite office in South Carolina.

Apple Growth Partners Acquiring Schlabig & Associates

Akron, Ohio-based Apple Growth Partners (FY15 net revenue of $10.9 million) is buying another accounting firm, Schlabig & Associates Ltd., with offices in Akron and Kent, Ohio.

The deal marks AGP’s second acquisition in six months. Its goal is to double in size by 2020. With the addition of Schlabig, revenue will grow to $17 million and staff will grow to 100, Apple Growth says.

Apple Growth also has offices in Cleveland and Beachwood, Ohio. The move expands Apple Growth into Portage and southern Geauga counties.

Holtzman Partners Welcomes Tax, Audit Partners

Jon Rausch

Jon Rausch

Holtzman Partners of Austin, Texas, (FY15 net revenue of $8.7 million) has expanded its leadership team by admitting Jon Rausch as a tax partner and Rusty Hale as an audit partner.

Rausch, who most recently served as MP of Montgomery Coscia Greilich’s Austin office, joined Holtzman Partners on June 1, and Hale, formerly a partner in MCG’s audit practice, will join Holtzman Partners on July 5.

“Holtzman Partners’ market reputation is extremely strong and rightfully so. I look forward to contributing my experience to the firm as we strive for continued success,” Rausch says.

Rusty Hale

Rusty Hale

In addition to adding four partners and a director to its leadership team this year, Holtzman Partners has also increased the size of its Austin footprint with the addition of buildings at 1700 and 1706 W. Sixth St., on the same block as its headquarters.

Holtzman Partners has grown to 70 professionals, including 11 partners, since its inception in 2004.

MP Chris Perkins says, “The growth of our partner group and acquisition of more office space really reflect our commitment to Austin’s business community and all of our clients across Texas. We’re planning to grow with Austin for decades to come.”

Mowery & Schoenfeld Announces Newest Partner

Jonathan Sniegowski

Jonathan Sniegowski

Jonathan Sniegowski has been admitted to the partnership at Mowery & Schoenfeld of Lincolnshire, Ill., (FY15 net revenue of $9.1 million), the firm announced.

Sniegowski joined the firm in 2010 and has been a transformative member of the tax department, bringing not only technical expertise but also contributing to recruiting and training programs, helping to develop the next generation of staff.

“Acting as a mentor to our staff and a trusted advisor to our clients, Jon has been an exceptional contributor to Mowery & Schoenfeld for over seven years now, and we are honored to welcome him to the partnership ranks,” the firm announced.

Councilor Buchanan & Mitchell Merges In Practice of William Blumenauer

Bethesda, Md.-based Councilor Buchanan & Mitchell (FY15 net revenue of $9.8 million) has expanded its tax service capabilities by merging in the practice of William G. Blumenauer, also of Bethesda, effective June 1.

“The professional services he and his team deliver complement CBM’s tax and accounting expertise,” says Peter Reilly, CBM’s president and MP. “We look forward to helping Bill’s clients through a smooth transition and providing them the same first-rate customer service for which we have long been proud.”

For 96 years, CBM has developed a reputation for delivering high-quality services throughout the Mid-Atlantic region for auto dealerships, construction and real estate clients, not-for-profit organizations, professional service entities and family-owned businesses. CBM has grown significantly in recent years by merging in professional services firm Drolet & Associates, providing the firm with a Washington, D.C. office, and Stokes & Company, both in 2014.

“I look forward to joining with CBM,” says Blumenauer, who will serve as a senior tax advisor. “I believe my clients and I will benefit greatly from having the help of CBM’s experienced professionals to back up the high level of service I have worked hard to provide over the years.”

Blumenauer has specialized in delivering tax planning services to individual, attorney, corporate and nonprofit clients, including many facing complex tax situations such as multi-state and/or international filing requirements, as well as estate and gift planning services, since beginning his practice in 2013.