Cherry Bekaert Grows Austin Presence With Acquisition

Richmond, Va.-based IPA 100 firm Cherry Bekaert is beefing up its presence in the Austin, Texas, market by merging in PMB Helin Donovan – its third acquisition in the area since 2018. PMB partners Don McPhee, Kelly Logan and Chris Bona and more than 20 professionals from the firm will join Cherry Bekaert’s Austin practice.

“The Austin community continues to be a strategic growth market for Cherry Bekaert,” says CEO and MP Michelle L. Thompson. “The PMB team’s long-standing reputation and alignment to our shared values made it a great fit. We look forward to continuing to bring Cherry Bekaert’s deep expertise in the technology, life sciences and advanced manufacturing industries, among others, to the growing, diverse and innovative central Texas area.”

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Cohen & Company Shifts into New Gear

Insurance Acquisition Corp., a subsidiary of Cleveland-based IPA 100 firm Cohen & Company, will merge with automotive e-commerce firm Shift Technologies Inc. of San Francisco.

Founded in 2013, Shift uses proprietary technology to deliver a comprehensive and seamless experience for both car buyers and sellers, including listings, test drives, paperwork, financing and more. When the deal is completed in the third quarter of this year, Shift’s existing management team will lead the combined entity, which will operate under the name Shift Technologies Inc.

“We are excited to partner with Shift and its world-class management team as it leverages its technology platform to disrupt the $840+ billion used car market,” says Insurance Acquisition Corp. board chairman Daniel Cohen. “With its tremendous, ongoing success in its core markets, we believe that this merger and its accompanying capital infusion will enable Shift to expand its product offerings and execute on its growth strategies.”

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BDO Expands on Two Separate Fronts

Chicago-based BDO USA, an IPA 100 firm, is merging in two firms to expand its industry and geographic reach. The acquisition of Detroit-based CFO Advisors LLC adds a national professional services firm providing outsourced CFO and CDO services to restaurant and retail groups across the U.S. to the BDO portfolio, while the addition of MorganFranklin Consulting’s public sector practice gives the firm an increased presence in the greater Washington area.

CFO Advisors has provided financial advisory, financial planning and analysis and actionable analytics to multi-unit restaurants and retail brands since 1994. The firm’s six partners and professionals will join BDO on July 15, continuing to work out of their Detroit office.

“BDO USA eagerly welcomes the experienced partners and professionals from CFO Advisors, a trusted ally to retail and restaurant brands for over 25 years,” says BDO’s national MP for advisory services Jay Duke. “Their tailored financial advisory and data analytics services tell the stories behind financial statements and identify strategic solutions to help clients grow. With this combination, BDO USA and CFO Advisors will be the largest advisor of this kind, helping restaurants and retailers mitigate risk and focus on resiliency as they navigate the current economic climate.”

MorganFranklin’s public sector practice, meanwhile, specifically works with a diverse portfolio of government agencies, including the Department of Defense, the U.S. Army, the U.S. Marine Corps, the Department of Veterans Affairs, the Department of Labor and various civilian and defense agencies and commands, as well as several state and local government entities.

“MorganFranklin Consulting’s strong relationships, distinguished reputation and proud service history in the public sector have made them the top choice for federal and state and local government agencies,” says BDO CEO Wayne Berson. “Their trusted public sector leadership team and demonstrated quality and consistency of work bolsters our practice and enhances our offerings for current and future clients in the D.C. market and beyond.”

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Hancock Askew & Co. Acquires Miami Firm

Craig Armstrong

Savannah, Ga.-based Hancock Askew & Co., an IPA 300 firm, has expanded its Miami office with the acquisition of CAPA.

Based in Miami, CAPA specializes in tax, financial accounting and consulting services to high-net-worth individuals, businesses and international clients. With the merger, Craig Armstrong and his team at CAPA – including tax partner Patricia Siles and audit principal Alfredo Reynoso – will join the leadership team of the Hancock Askew Miami office.

“CAPA holds similar values and practices to ours,” says Hancock Askew MP Michael McCarthy. “This merger allows us to strengthen our South Florida practice and develop new service offerings with a larger team.”

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Wessel & Company Merges in Fellow Pennsylvania Firm

Johnstown, Pa.-based Wessel & Company announced that it will acquire Cranberry, Pa.-based Perry & Company effective July 1.

“The merger strengthens our regional reach and furthers our goal of providing the best possible service to our clients,” says Wessel & Company CEO Joel Valentine. “This will also allow us to streamline our processes and further strengthen the firm’s reputation in Pennsylvania.”

IPA 100 Firm Adds Wealth Management Presence in Kansas City

St. Louis-based RubinBrown Advisors, the investment advisory affiliate of IPA 100 firm RubinBrown, has acquired Kansas City-based Wealth Management Advisors.

The move adds about $470 million in assets under management to one of RubinBrown’s fastest growing businesses and expands the firm’s wealth management reach into the Kansas City market.

“The more opportunities we had to meet with Kevin (Wealth Management Advisors president Kevin McGrew) and his team, the more apparent it was that this was going to be a great cultural fit,” says RubinBrown chairman John F. Herber Jr.

IPA 300 Firm Moves Into Midwest With Merger

In an effort to expand its regional reach to the Midwest and broaden its service capabilities to include governmental entities, Brooklyn, N.Y.-based Roth & Company LLP, an IPA 300 firm, has acquired E.C. Ortiz & Co. LLP of Chicago, effective July 1.

Founded in 1974, E. C. Ortiz services government entities and closely held businesses with specialists in the fields of federal and state compliance, health care compliance, financial audits and accounting.

“E.C. Ortiz’s sterling reputation, local relationships and specialized services make them the perfect partner for our Midwest expansion,” says Roth & Company co-MP Zacharia Waxler. “The acquisition allows us to continue to innovate and grow as we serve diverse clients across the globe in the private, non-profit and governmental sectors.”

Anders to Merge in Fellow St. Louis Firm

With an eye toward expanding its financial institution expertise, IPA 200 firm Anders CPAs + Advisors of St. Louis will merge in crosstown firm Cummings Ristau & Associates, effective June 30. Partners Mark Cummings and David Ristau and all 19 staff members of Cummings Ristau will join Anders.

Formed in 1996, Cummings Ristau has strong expertise in the banking industry in Missouri and Illinois, providing audit, tax, regulatory compliance and loan review services to banks and credit unions. The firm also provides agreed-upon procedures, IT audits, bank directors’ examinations, employee benefit plan audits and internal control reviews.

“Adding a strategic partner with an established niche unique to our industry offerings is important to our vision for growth, and we found a great match with Cummings Ristau,” says Anders MP Robert J. Minkler Jr. “Given the current environment and the increasing relationship between clients, accountants and their bankers as a result of the Paycheck Protection Program (PPP) and other parts of the CARES Act, the timing of this merger will add value and expertise for clients from both firms. The role community banks and financial institutions will play in the recovery and growth of our economy has never been greater and we welcome the opportunity to provide them with the services and information they will require.”

IPA 200 Firm Expands Reach in Arkansas with Acquisition

Looking to expand its geographic reach and deepen its construction industry specialty, Great Bend, Kan.-based Adams Brown Beran & Ball, Chtd., an IPA 200 firm, has acquired the Jonesboro, Ark., branch of EGP, PLLC.

The branch will be led by partner Mark Burnett, who will also serve as construction team leader. All six individuals in the former EGP Jonesboro office, including branch co-leader Ron George, have joined Adams Brown.

“Our deep industry experience will be expanded with this addition to the firm,” says Adams Brown MP Brian Staats. “We are excited to have Mark help drive our strategic direction in the construction space at the same time we expand our geographic footprint into Arkansas.”

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BDO USA Taps Into Nevada, Utah Markets With IPA 300 Acquisition

Chicago-based BDO USA, an IPA 100 firm, is merging in Las Vegas-based IPA 300 firm Piercy Bowler Taylor & Kern (PBTK) in a deal expected to close on July 1.

“By joining BDO, PBTK clients will still receive the same excellent service from a deep-rooted local team, but will now have access to the additional global resources and capabilities of an international firm,” says PBTK president Thomas Donohue.

Founded in 1990 and now the largest locally owned accounting firm in southern Nevada, PBTK serves clients across the real estate, construction, manufacturing, retail and wholesale, gaming and hospitality, government and non-profit industries. Post-merger, the firm’s nine partners and approximately 60 professionals will continue to serve clients in its Las Vegas, Reno, Nev., and Salt Lake City offices.

“PBTK’s incredible track record of technical excellence and exceptional client service makes them a perfect fit for BDO,” says Wayne Berson, CEO of BDO USA. “Their comprehensive capabilities across multiple business lines and industries, specifically in the gaming and government sectors, will complement and enhance our current strengths in these sectors and triple our size in the region. We look forward to welcoming PBTK’s talented leadership team and professionals to BDO and working together to redefine excellence for our clients in Nevada, Utah and beyond.”

“Yet another example of BDO’s successful growth strategy, this expansion adds enormous value for current and prospective clients, particularly those in the gaming and government industries,” adds Allan Koltin, CEO of Koltin Consulting Group and an IPA most recommended consultant, who advised both firms on the transaction. “Piercy Bowler Taylor & Kern selected BDO because of its aligned and complementary culture, one that prioritizes remarkable client service.”

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