Albuquerque Firms Combine

Pulakos CPAs (FY16 net revenue of 4.4 million) of Albuquerque, N.M. and Satter & Hiller of Albuquerque announced their combination effective Aug. 1. Both firms specialize in tax, audit and comprehensive business advisory services.

Russ Hiller, who has more than 20 years of experience in both public accounting and private industry, joins Pulakos as a shareholder and officer. Satter & Hiller founder, Dick Satter, joins the Pulakos team along with the firm’s staff.

“This combination will benefit the clients, employees and strategic partners of both firms. Our mutual goals for outstanding client focused professional service and improving New Mexico’s competitive position in the national/international business community will also be enhanced through this combination of professional resources and business talent,” says Brad Steward, Pulakos CPAs leading partner.

Pulakos CPAs clients include individuals, businesses and community organizations throughout the state of New Mexico.

Serotta Maddocks Evans Acquires Snyder and Stewart

Augusta, Ga.-based Serotta Maddocks Evans (FY16 net revenue of $6.1 million) has acquired Snyder and Stewart of Aiken, S.C. Joel Stewart was admitted as partner. In addition, SME CPAs adds additional employees, Patty Dixon and LeAnne Jolley.

SME CPAs will relocate their office to the First Citizens Building at 125 Park Ave. Suite 200 in Aiken, S.C.

Serotta Maddocks Evans is a certified public accounting firm specializing in tax, accounting, audit and advisory services for businesses and individuals. They have been in practice for more than 65 years and serve a wide variety of industries.

Prager Metis Acquires Vizcaino Zomerfeld

New York-based Prager Metis CPAs LLC (FY16 net revenue of $60.8 million) acquired Miami-based Vizcaino Zomerfeld LLP effective Aug. 1.

The combination will expand Prager Metis’ presence into South Florida. Raymond Zomerfeld, Jorge Mesa, Beatriz Martin, Cynthia Ow and Ileana Alvarez will join Prager Metis as partners, along with Armando Vizcaino as partner emeritus. Zomerfeld will become the regional MP of South Florida.

“We have been looking for a CPA firm in South Florida that shares our values and standards of proactive service so that we can better serve our clients and grow in the area. We chose to combine with Vizcaino Zomerfeld due to their reputation for excellent client services in the Miami area,” says Glenn Friedman, co-MP of Prager Metis.

Vizcaino Zomerfeld works with a broad range of small and midsize businesses, government entities, organizations, high-net-worth individuals and multinational corporations. Core industries served include not-for-profits, professional services, investors, entrepreneurs, logistics, health care, construction and real estate. They aim to work for organizations seeking a close relationship with their advisors and the continuous pursuit of sustainable growth.

LBMC Acquires Outsourcing Solutions Company W Squared

Brentwood, Tenn.-based LBMC (FY17 net revenue of $89.8 million) announced the acquisition of W Squared effective Aug. 1. W Squared provides finance, accounting, payroll, human resources, technology and procurement services to a range of businesses.

“LBMC was founded with a simple mission: to serve great clients and enjoy doing it,” says Jeff Drummonds, CEO of LBMC. “We’ve kept that core ideal top of mind over the last three decades as we’ve grown and expanded in scope to meet the needs of our clients. We have worked with W Squared for over a decade through our mutual clients and are excited to be adding them to our team permanently. Their addition will aid our efforts to be a national leader in comprehensive back-office solutions.”

“Our companies share a culture of innovation and creativity, along with a passion for providing excellent customer service. We look forward to enhancing our clients’ experience with additional services, while providing the same quality of care and team-based approach our clients have come to expect,” says Tammy Wolcott, CEO of W Squared.

“Whether a business has a very specific outsourcing need or requires a full suite of back-office support, with the addition of the W Squared team, LBMC is more capable of providing our clients everything their business would need,” says Drummonds.

TRP CPAs Expands Presence in Fayetteville with Chestnutt Acquisition

Fayetteville, N.C.-based TRP CPAs PLLC has acquired a portion of Faircloth Chestnutt & Company LLP. It was the wish of A. Johnson Chestnutt Jr. who passed away on April 18, for TRP to manage his customer base. He was MP of Faircloth Chestnutt & Company for more than 35 years.

“Johnson wasn’t just a well-respected CPA, we were all touched by his dedication to his clients, his family, his church and his community,” says Kelly Puryear, chief executive partner, TRP. “We were also honored that he entrusted TRP with continuing to provide his clients with the highest level of service that they have come to expect for more than three decades.”

The transition to TRP has already begun in earnest, and current customers should see no change in the level of service.

TRP is a full-service public accounting firm that has provided accounting, auditing, financial statement and income tax return preparation and planning, business valuation, litigation support, management advisory and other services in North Carolina since 1972.

Henderson Hutcherson & McCullough Merges with Brundige Payne & Co.

Chattanooga, Tenn.-based Henderson Hutcherson & McCullough PLLC (FY16 net revenue of $21.3 million) has joined with Brundige Payne & Co. PC effective Aug. 1. The combined company will operate as HHM Memphis.

Bob Payne, Brundige Payne’s MP, says HHM enables a broader range of services and deepens capabilities to give clients results-driven solutions.

HHM offers services to all industry groups including health care, retail, restaurant, manufacturing and distribution, automotive dealerships, construction, government and nonprofit. The firm also specializes in mergers and acquisitions, business valuations, litigation support and forensics, critical reviews of operating procedures, employee benefit plans, tax-financial-estate-succession planning, emerging business, peer reviews and audits.

HHM was included in IPA’s Fastest-Growing Firms and Best of the Best lists for the past two years.

Sage Announces the Acquisition of Intacct

Sage Group acquired Intacct Corporation, a leading North American provider of cloud financial management solutions. Intacct’s CEO, Robert Reid, will remain to run the business, ensuring continuity for customers, partners and employees.

As customer demand moves to the cloud and away from traditional enterprise resource planning suites, the acquisition assists Sage in providing cloud financial management solutions from start-up to global enterprise, while integrating their other enterprise applications. Sage partners will now be able to grow their own businesses fully in the cloud with Sage. In the short term, it provides Sage further platform for growth, with medium-term aspirations for geographical expansion.

“The acquisition of Intacct supports our ambitions for accelerating growth by winning new customers at scale and builds on our other cloud-first acquisitions, strengthening the Sage business cloud. Intacct opens up huge opportunities in the North American market, representing over half of our total addressable market,” says Stephen Kelly, CEO of Sage.

“Intacct is growing rapidly in our market and we are proud to be a recognized customer satisfaction leader across midsize, large and global enterprise businesses. By combining our strengths with those of Sage, we can jointly accelerate success for our customers,” says Reid.

Sax Wealth Advisors Acquires Sterling Portfolio Management

Sax Wealth Advisors, a subsidiary of Clifton, N.J.-based Sax LLP (FY16 net revenue of $29.7 million) acquired Tuxedo, N.Y.-based Sterling Portfolio Management, effective July 20.

Sterling Portfolio Management has served the wealth management needs of businesses and individuals located primarily in the New York metropolitan area since 2002. Founder Gregory Duffy has grown the firm to nearly $40 million of managed assets utilizing investment funds, and targeting factors that have tended to offer higher than expected returns over time based on academic research.

“Sax Wealth Advisors was the natural next step for our firm,” says Duffy. “We espouse the same principles on empirically supported investment education, and intend to utilize our combined knowledge and expertise to best serve our clients.”

As part of the transition, Duffy will join the Sax team as a wealth advisor, and will continue to serve and nurture his long-standing client relationships.

“Sterling’s commitment to evidence-based investing and their high standards of professional integrity and client service is an ideal match to our mission and values,” says Kyle Stawicki, PIC of Sax Wealth Advisors. “Joining forces will only make our team’s service quality and capabilities that much stronger.”

BerryDunn Merges in Compass Health Analytics

Portland, Maine-based BerryDunn (FY16 net revenue of $57.6 million) is combining with Compass Health Analytics, a health care consulting firm also headquartered in Portland. The combination will enable BerryDunn to better provide advice on health care finance and policy, along with other services, to its clients in the health care industry, along with government clients.

“We’ve been doing a fair amount of work in that space for Medicaid agencies as well as non-Medicaid agencies in states, and also health care providers and client service organizations,” says BerryDunn Managing Principal John Chandler. “We came about the Compass relationship by virtue of utilizing their actuarial skills in a client project. We’ve worked with them in some other client situations and found them to be particularly expert, highly qualified and really committed to client service, just a very effective organization.”

“Over time that relationship built up to the point where we had conversations about whether it would make sense for us to combine and just be able to present a unified front in the marketplace, adding the depth of their actuarial as well as data analytics skills to what we already did in the policy area and they do on the policy area,” says Chandler. “It just made sense the way it all came together. Jim Highland, who was the founder and owner of Compass, became a principal in BerryDunn, and their 18 other employees came on board with us at that same time.”

“If you think about all of the impacts and all of the uncertainty and complexity, just helping clients gain control over those challenges it presents for them, it’s phenomenal,” says Chandler. “You can’t make good decisions without good data. You think about gathering the data and information, converting that into knowledge and ultimately wisdom to make the decisions across the spectrum. We can touch every single stage of that with our clients, and it really allows us to add value and help them be successful.”

Berdon Acquires Koch Group and Company

New York-based Berdon (FY16 net revenue of $111.8 million) acquired New York-based Koch Group and Company July 1. Stuart Koch, founding partner of Koch, brings with him a team of four partners and 20 professionals who will move into Berdon’s midtown Manhattan office.

“Our clients will continue to receive the accounting and tax services they are accustomed to, but will also now benefit from a wider array of tax consulting and advisory services – including state and local tax; retirement, succession and estate planning; operational advisory; and asset valuation – through Berdon and its more than 400 professionals,” says Koch.

“Stuart and his team add a further layer of strength to our existing real estate expertise by providing additional specialization in the low income housing area,” says Mark Bosswick, MP of Berdon.

Koch has been providing high quality tax planning and advisory services to high-net-worth individuals and their families and businesses since 1988. Their expertise in the real estate, not-for-profit and charter schools sectors will enhance Berdon’s breadth of knowledge and service capabilities in these areas.