CRI Expands Family of Companies

Enterprise, Ala.-based Carr Riggs & Ingram (FY18 net revenue of $306 million) has added The Preferred Legacy Trust Company to its family of companies, a new portfolio company offering estate and trust administration.

The Preferred Legacy Trust Company provides investment management oversight, family planning and advisory services, family stewardship and philanthropy, business and bank advisory services, and household financial management. Preferred Legacy Trust professionals handle the financial oversight of marketable securities, unique and closely held assets, estate plans, and other concierge services.

“The addition of Preferred Legacy Trust to our CRI Family of Companies allows us to provide an integrated approach to specifically support the needs of high-net-worth clients,” says Bill Carr, MP and chairman. “We are able to offer clients advice from our teams of professionals spanning the entire CRI Family of Companies.”

Denise Penz, president and CEO of The Preferred Legacy Trust Company, says, “We are ready to deliver our client-centric and integrated approach to long-term estate planning to our customers and help them achieve their ultimate goal of preserving their legacies for years to come.”

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Horvath & Giacin Joins EisnerAmper

New York-based EisnerAmper (FY19 net revenue of $380.6 million) has announced that the leadership and staff of CPA firm Horvath & Giacin of Pennington, N.J., have joined the firm.

Founded in 1989, Horvath & Giacin is a full-service accounting firm with a staff of 22. They offer tax, accounting and assurance, and business advisory and consulting services to clients in more than 10 countries.

“What really impresses us about Horvath & Giacin is their relationship-driven approach. John Horvath and his team genuinely feel that each of their clients – irrespective of their size, location or industry – should receive stellar service,” says Jay Weinstein, EisnerAmper MP of markets and industries and PIC of the firm’s New Jersey office.

Horvath, president and a founding member of Horvath & Giacin, is joining EisnerAmper as a partner. “We’ve admired the ‘EisnerAmper way’ for a long time. And we’re thrilled to now be able to leverage its robust technology, advisory service offerings, talent, client initiatives, educational resources and more to enhance our client service.”

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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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Carr Riggs & Ingram Expands Operations in Alabama With Merger

Enterprise, Ala.-based Carr Riggs & Ingram (FY18 net revenue of $306 million) has merged in Crabtree Rowe & Berger of Huntsville, Ala.

“Expanding our footprint into northern Alabama is a vital part of our strategic plan,” says William Carr, chairman and MP of CRI. “The Crabtree Rowe & Berger offices in Huntsville, along with our other Alabama locations, help leverage the strength of our combined teams and resources to enhance our client service delivery and technical expertise.”

Crabtree Rowe & Berger was named to Inc. 5000’s list of America’s fastest-growing companies in 2019 and offers traditional services along with a consulting and financial modeling practice called Simple Numbers® for a variety of industries, including manufacturing and distribution.

Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination, says, “This merger is tremendous for CRI given the incredible growth that the Huntsville market is experiencing. Though Crabtree Rowe & Berger is based in Huntsville, they have gained a national reputation for their extraordinary consulting and advisory practice. These two firms will experience impressive success from their combined offerings.”

With the addition of the Crabtree Rowe & Berger, CRI operates in 30 markets across 10 states.

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Yount Hyde and Barbour Expands Construction Practice with Merger

Winchester, Va.-based Yount Hyde & Barbour (FY18 net revenue of $24.9 million) has merged in Woodcock & Associates of Fredericksburg, Va.

Scott Moulden, MP of Yount Hyde & Barbour (YHB), says in a statement that Woodcock & Associates has been an invaluable resource to its construction industry clients since its founding in 2000. “We expect the Woodcock team’s capabilities to enhance our already rapidly expanding construction industry niche.”

Woodcock provides a comprehensive range of assurance, outsourced CFO services and management advisory services.

“Both YHB and Woodcock have had a friendly relationship for many years. We knew the quality of work and relational approach they took to delivering client service,” says MP and president Jeanette Woodcock. “In addition, YHB has a large multi-regional presence with offices spread throughout, allowing us access to new markets. This provides our team with additional resources and specializations, which we see as a huge combined strength from the merger.”

The merger will make the Fredericksburg office YHB’s eighth location in Virginia. The deal will add 12 professional staff to YHB.

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FML Merges with Two Connecticut Firms

Glastonbury, Conn.-based Fiondella Milone & LaSaracina (FY18 net revenue of $9 million) announced their completed mergers with two Connecticut firms, Viola Chrabascz Reynolds (VCR), with offices in Enfield, Simsbury and Stafford Springs, as well as Formica & Dobkin of Berlin.

These mergers are designed to create a larger tax, assurance and advisory firm with the ability to provide a greater array of services and expertise to clients. The transition will also allow the combined firm to offer enhanced service lines and specialties, a larger network of experienced partners and CPAs, and a continuation of its principles as a forward-thinking firm serving clients of all sizes.

The Formica & Dobkin staff will join the FML Glastonbury office, operating as F&D, a division of FML. The three VCR offices will remain open and operate as VCR, a division of FML. FML will now be a statewide a network of six offices.

“This merger will provide additional opportunities and teammates to better serve our clients and continue our tradition of direct access to decision makers,” says MP Jeff Fiondella.

VCR MP Tim Reynolds says, “We’re gearing up to bring a broader range of services and experienced staff to better support business here in Connecticut, regionally in New England, as well as on the national and global stages.” Three partners and 14 staff will join FML.

“The firm will have a combined 107 years of experience,” added Ralph Formica of Formica & Dobkin. “Our merger into one is a strategic decision developed to provide the best possible services to our current and future clients; many of whom know firsthand how important it is to have a personalized relationship as they would with a small advisory firm, while also experiencing the benefits of a large one.”

The newly expanded FML will include 13 partners and 36 CPAs, creating a firm of a total of 84 staff.

UHY Expands in Northeast With Acquisition of Pattison Koskey Howe and Bucci

Chicago-based UHY LLP and UHY Advisors Inc. (FY17 net revenue of $140.8 million) has announced they will expand their presence in the Northeast region with the merger of Pattison Koskey Howe and Bucci (PKHB), which operated six offices in the Hudson Valley area of New York.

The deal adds three partners, six principals and approximately 50 additional professionals and administrative staff to UHY.

The merger developed over several years through the firms’ collaboration serving their respective clients. Their combined expertise will create new business opportunities in the Hudson Valley with the addition of three of the PKHB offices in Hudson, Kingston and Catskill.

A. Michael Bucci, Matthew VanDerbeck and Bradley Cummings will join UHY as partners. One of PKHB’s founders, Richard Koskey, joins UHY as a principal, along with Nancy Patzwahl, Suzanne Muldoon, Gary Newkirk, Therese Wolfe and Jean Howe Lossi.

“We are committed to ensuring a smooth transition and look forward to our combined experience strengthening our presence and further helping us counsel our clients as we continue to expand our service lines, industry sectors and advisory services to meet growing client business strategies and demands across the Northeast,” says Michael Mahoney, CEO of UHY Advisors NY, Inc.

“UHY’s commitment to client success, community support, career development, deep industry expertise and professional leadership in the accounting and advisory sectors are a foundation of our collective continuing legacies,” Bucci says.

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MBAF Expands Tax & Accounting Practice With Addition Of Kramer & Associates

Miami-based MBAF (FY18 net revenue of $132.5 million) has announced its acquisition of Kramer & Associates of Coral Gables, Fla.

The merger, effective Jan. 16, was announced by MBAF Chair and CEO Tony Argiz and James Kramer, principal of Kramer & Associates.

“As we celebrate MBAF’s 50th anniversary, we remain laser-focused on strategically growing both in new markets and those where we have an established presence. Joining forces with Kramer & Associates deepens our expertise in our current practice areas, provides additional resources for our clients and reinforces our position as a leading accounting firm,” Argiz says.

Five full-time professionals from Kramer & Associates will join the MBAF team, bolstering the firm’s expertise in industries such as real estate, high-net-worth individuals, restaurants, service organizations, retail establishments, security companies, wholesale distributors, insurance entities, and more. The Kramer & Associates team will be based out of MBAF’s Coral Gables office.

“In addition to sharing the same core values of integrity, ethics and professionalism, this union gives us access to broader resources, allowing us to further enhance the service we offer our clients,” Kramer says.

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LGSH LLP Joins Citrin Cooperman

New York-based Citrin Cooperman (FY18 net revenue of $277 million) has acquired LGSH of Encino, Calif., marking the continuation of the firm’s expansion into Southern California.

As one of the largest CPA firms in the San Fernando Valley, the deal provides Citrin Cooperman with 10 additional partners and 55 staff. Steve Lacher and Daniel Howard will join as co-MPs of the Encino office and Howard will join the firm’s executive committee.

LGSH provides tax, audit, litigation support, business management and consulting services to clients in a variety of industries including, but not limited to, real estate, entertainment, manufacturing, distribution, technology, professional services and agriculture. Their clients consist of global companies, attorneys, doctors, entertainment executives, established companies and emerging businesses.

“We look forward to continuing LGSH’s long history of providing innovative, strategic client service,” says Citrin Cooperman CEO Joel Cooperman in a statement. “We have completed three deals in this market in 2019 and added over 100 professionals with over $25 million in annual revenue. We can now provide clients in this market will a full menu of accounting, tax and business management services as well as a full suite of complementary consulting services.”

“Like LGSH, Citrin Cooperman is known for their commitment to their clients and investment in their people, and we know our core values are aligned,” Lacher and Howard say in a joint statement. “Joining Citrin Cooperman was a decision we made not only because of similar cultures and philosophy but also because we wanted to expand the resources we collectively can offer for the benefit of our clients and our people.”

Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the deal, says, “For years, LGSH has been recognized in Southern California for being accomplished, creative and most importantly, trusted by their clients and peers. With their established reputation and experience, combined with Joel and his team, Citrin Cooperman is positioned to become an undisputed leader in the West Coast market.”

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MGO Acquires Schwartz & Company

Los Angeles-based MGO (FY18 net revenue of $60.4 million) has acquired Bellmore, N.Y.-based Schwartz & Company.

The transaction expands MGO’s presence in New York and throughout the East Coast. All five Schwartz & Company partners are joining the team at MGO, formerly Macias Gini & O’Connell.

“We welcome the entire Schwartz & Company team to MGO. While formidable as separate companies, combining these two elite teams will enable us to deliver an unmatched experience to our clients,” says Kevin O’Connell, CEO and MP of MGO. “Schwartz brings deep experience representing private equity and venture capital firms, investment partnerships, family offices and public and closely held corporations. We also look to capitalize on these capabilities, as well as the firm’s expansive East Coast footprint.”

The combination expands the resources and offerings of both firms, strengthening the capabilities of several practice areas including SEC/public company, private equity, family office, audits, tax planning strategies, international business and wealth management.

“MGO is one of the most impressive and innovative firms in the country. Not only will this move strengthen our practice, it will expand our geographical footprint, provide a deeper bench of resources and expertise to service public companies,” says founder and MP Michael Schwartz. “The two firms have very similar cultures and common commitment to client service.”

Over the past year, MGO has expanded its business in multiple ways, including the creation of new partnerships and lines of business to address the needs of cannabis companies and those who want to invest in the sector. In 2018, the MGO | ELLO Alliance was launched to provide professional services to the cannabis market. Through this alliance, the firm last year also launched ELLO Capital, one of the first U.S.-based investment banks and M&A advisory firms focused on cannabis.

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