Mergers

Community News

BKD announces merger with Dallas-based KBA Group

Dallas-based accounting firm KBA Group LLP's partners and staff will join Springfield, MO-based BKD, LLP, one of the 10 largest CPA and advisory firms in the United States, on June 1, 2009, said BKD Chief Executive Officer Neal D.

Business valuation considerations in tough economic times

By Grover Rutter CPA/ABV, CVA, BVAL Current economic conditions have a significant impact on the fair market value of business enterprises and also on the valuation process. This article is not intended to be a complete treatise on business valuation. However it does provide a few tips and reminders for accounting practitioners to keep in mind when they consider taking on business valuation assignments.

Show me the money: How CPA firms are sold

Sellers and buyers always want to know value. But even before one speaks of value it is helpful to know something about terms - how accounting and tax practices are sold. There are four basic ways firms are sold. With seller guarantees: 1. Collection Pricing This is a type of seller financed transaction in which the seller receives payments based on what the buyer collects (or, perhaps, bills) over a period of time. The down payment, percentages, and payout years can be adjusted.
Community News

Carr Riggs & Ingram announces merger with Florida firm

Carr, Riggs & Ingram (CRI), LLC, the fourth largest CPA firm in the Southeast, announced that it has merged with the Maitland, Florida accounting firm FelsingRankin LLC. Effective January 1, FelsingRankin's Maitland operations were consolidated into Carr, Riggs's Central Florida practice unit in Winter Park. The Winter Park office was established in October 2007 through the merger of Winter Park-based firm Cuthill & Eddy LLC with CRI.

What will a bad economy mean for a CPA firm M&A?

By Joel SinkinEvery news story reinforces the idea that we are in economically challenging times. How will these turbulent times affect the mergers and acquisitions market among CPA firms? What other practice management considerations could it raise?

The case for mergers in this tough economy

Content provided by Accounting Transition AdvisorsMany firms are wondering how the economy should impact a decision to go forward with M & A deals right now or in the near future. We believe there are several things for you to consider based on what we are hearing from firms that are interested in growing through M & A deals.Our clients are telling us:Collections problems. Many firms are experiencing difficulty collecting client fees which can quickly lead to cash flow issues.Client Attrition. Clients are going out of business or are selling their businesses.
Community News

New York accounting firms announce merger

Two of Rochester's major accounting firms, Eldredge, Fox & Porretti, LLP (which does business as EFP Group) and Rotenberg & Co. LLP, have signed a letter of intent to merge. When the merger is finalized, after the accounting industry's busiest season, the combined firm will become the area's second-largest locally owned accounting and business consulting firm, with 67 certified public accountants (CPAs) and 150 employees.

Highlights of CCH Seminar: FAS 141(R) Business Combinations

AccountingWEB staff writer Teresa Ambord attended the recent CCH audio seminar: FAS 141(R): Business Combinations: Understanding and Applying FAS 141(R) and FAS 160.
A&A

Seven critical business valuation terms you should know

As a business owner, you'll likely need to have your company appraised at some point. Appraisals are essential in the event you decide to sell or merge the business, create or update a buy-sell agreement, or devise or refine your estate plan. A good way to preempt the uncertainties of the appraisal process is to learn some basic valuation terminology. Here are seven terms you should know: Fair market value. This is a term you may associate with selling a car, but it applies to businesses (and their respective assets) as well. 
Community News

Florida accounting firms announce merger

The local accounting firms of Cross, Fernandez & Riley, LLP (C/F/R) and Beckert, Price, & Rowse, P.A. (BPR & Company) recently announced a merger. Effective August 1, 2008, BPR & Company will be recognized as Cross, Fernandez & Riley, LLP"BPR & Company has a very rich tradition in Polk County and we have a great deal of respect for their team," stated Jim Cross, Managing Partner of Cross, Fernandez & Riley, LLP.
Community News

New York accounting firms merge

Two western New York-based accounting firms, James Amato and Co. PC and Fox and Co. LLP, have announced the formation of a new accounting and business consulting firm. The new firm, Amato, Fox, and Co. PC, at 36 Niagara St. in Tonawanda, NY will provide a full range of services including auditing, tax preparation, accounting, business advisory and computer evaluation and installations. Buffalo's Busines First reports that Amato, Fox, and Co. has 25 associates and has a focus in the not-for-profit and municipality sectors.
Community News

New CPA firm formed in time for tax season

The Worcester, MA Business Journal reports that three Central Massachussets CPAs have decided to join forces to form a new firm.Mark L. Love, Michael L. Jarominski, and Donald E.
Community News

Michigan accounting firms to merge

Beene Garter LLP, the largest independently owned accounting and consulting firm in the Grand Rapids, MI region, has announced that it is merging with Grand Rapids accounting firm Deem, Huizing & Associates. Deem Huizing has over $1 million of net revenue and, with the move, the combined entity will have over $11.3 million in annual net revenue, making it one of the region's largest firms. The merger is due to be complete by the end of December.The merger calls for Deem, Huizing & Associates' two partners and five staff members to join Beene Garter's team.

10 Keys for acquisition due diligence

By Joe Michalczyk, CPAThe amount of global deals is growing at a staggering rate, increasing the need for thorough diligence. In 2006, global deal value surpassed the $4 trillion mark, up from $3 trillion in 2005. The number of transactions increased globally from 35,329 in 2005 to 39,120 in 2006.Last year, U.S.-focused funds raised an incredible $252 billion - $80 billion more than the amount raised in 2005, according to Thompson Financial. This amount includes the $130 billion raised by U.S.
Community News

Friday News Briefs...

Herewith, a summary of some of the interesting news items that came across the desk at AccountingWEB this week...INCPAS wins Awards of ExcellenceThe Indiana CPA Society was recognized for excellence by the Indiana Society of Association Executives at the annual STAR Award banquet held Dec. 4 at Oak Hill Mansion in Carmel, IN. The Society received honors in three categories, making INCPAS one of the evening's top winners.
Community News

Merger mania - several accounting firms announce merger plans

Maybe there's something in the water – many accounting firms are joining forces as the year comes to a close. Here are the latest entries on the merger roster:In Indiana, Kemper CPA Group, with 27 offices in Illinois, Indiana, California, Florida, and Kentucky, has announced a merger with Evansville, Indiana-based Wright Consultants. Wright Consultants' 12 employees will move its offices to the Kemper location in Evansville, IN. Kemper CPA Group, ranked among the top 100 CPA firms in the country, has 58 partners and more than 250 members on its professional staff.
Community News

Texas CPA firms announce merger

Sprouse & Anderson LLP in Austin, TX has combined with San Antonio-based Padgett Stratemann & Co. LLP with plans to target midsized business customers in Central and South Texas. The firm will operate under the name PS&Co. Based on the number of CPAs, Sprouse & Anderson is the eighth-largest firm in Austin and Padgett is the second-largest accounting firm in San Antonio, according to a report in the Austin Business Journal. "Austin is a tremendously growing, dynamic market," says Lester Sprouse, a managing partner of the Austin firm.
Community News

Florida accounting firms announce merger

Coral Gables, FL-based Lefcourt, Billig, Tiktin & Yesner specializes in complex estate, trust and gift-tax-planning strategies and complex corporate and partnership tax consulting. Its four name partners - Jeffrey Lefcourt, Robert Billig, Steven Tiktin and Jack Yesner - have joined Berenfeld, Spritzer, Shechter & Sheer LLP's Coral Gables office, according to a report in the South Florida Business Journal.
Community News

Rochester-based Bernardi & Russo LLP merges with regional firm

A merger between the Rochester based CPA firm of Bernardi & Russo LLP and regional firm Freed Maxick & Battaglia, CPAs has been announced. The merger expands Freed Maxick & Battaglia’s staff in Rochester to 22 employees, more than doubling the firm’s Rochester-based workforce. The merger puts Freed Maxick & Battaglia ahead of schedule to reach its goal of 30 Rochester-based employees by the end of 2008. The firm will now employ 230 professional and administrative staff across Rochester, Batavia, and Buffalo (headquarters).
Community News

J.H. Cohn and Marden, Harrison & Kreuter combine services

J.H. Cohn LLP, the largest independent accounting and consulting firm in the Northeast, has combined its services with Marden, Harrison & Kreuter, CPAs, P.C. of White Plains, New York, effective July 19. The former Marden, Harrison & Kreuter will operate as Marden, Harrison & Kreuter, A Division of J.H. Cohn. Marden, Harrison & Kreuter is a full-service accounting and consulting firm, with more than 50 professionals and a diverse client base which include real estate developers and construction contractors. The firm offers a broad spectrum of accounting, tax and consulting services.

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