Johnstone, Graydon & Thompson to Merge with Scott and Company
by Terri Eyden on
By Frank Byrt
The South Carolina CPA firms of Johnstone, Graydon & Thompson CPAs, PA and Scott and Company, LLC have entered into a letter of intent to merge on June 30, 2013.
A Scott and Company March 4 press release announced that post-merger, the firm will operate under the Scott and Company name, and all members of each firm's Greenville offices will combine in a single Greenville location. Scott and Company will also continue to operate at its Columbia office.
"We're still working out some of the details," Don Mobley, a managing partner at Scott and Company told AccountingWEB, but it's expected the merged firm will be run by a management committee of four partners.
Mobley said the firms are much alike. "We've known the principals at Johnstone, Graydon & Thompson for a long time, and we share the same basic business philosophies."
The merged firm will include eighteen CPAs, he said, and the practice will continue to be focused on audit, tax, and consulting services.
Scott's clients range from individuals to multistate and international organizations. The firm has expertise in serving closely held businesses and their owners as well as companies in the health care, real estate, government, manufacturing, professional services, and nonprofit areas.
Johnstone, Graydon & Thompson founder Bill Johnstone, who has "scaled back involvement in recent years as he approaches retirement, will continue in an active role, serving a limited number of clients and mentoring younger staff in the combined firm," according to the press release.
Mobley said the firm hired a marketing director for its Greenville office in January who will help build the firm's client base.
As for future expansion plans, Mobley said, "We would like to expand to other [areas] of the state, but we'll get this [merger] done first."
S. Hunter Howard Jr., who has directed Scott and Company's Greenville office since its opening in 2010, said in the press release, "We envision a huge upside to meeting the growing demands of South Carolina's middle-market organizations and governments by providing highly skilled, highly efficient, personable and professional accountants and consultants at a value proposition that meets their needs. Combined, our superior depth and capabilities will make that value proposition even more attractive to many."
You may like these other stories...
With our recent coverage of the recent changes and complexities found in FATCA, we realized that regulations are just part of the story. Accounting professionals have to work with foreign financial professionals, and the...
Four years after the first iPad spreadsheet, users finally have a Microsoft-sanctioned solution. When I first installed Excel on my iPad, I immediately focused on its limitations, but upon reflection I see that Excel for...
Change. For some people, it can be a dirty word. Change means adjustment, re-thinking and perspective shifts—all daunting thoughts for an industry such as accounting that is based on mitigating risk and regulations...
Upcoming CPE Webinars
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.