Aldrich acquires HMA CPA; and GHJ merges in GGF.
M&A roundup: Aldrich and GHJ expand
November 7, 2024 12:07 PM
Aldrich acquires HMA CPA
Courtesy of Aldrich
The Aldrich Group of Companies includes Aldrich CPAs + Advisors LLP, a Top 75 Firm, as well as Aldrich Wealth LP, a registered investment advisory firm with over $6 billion in assets under management, and Aldrich Advisors Capital LP, which provides advisory services for business transactions.
Financial terms of the deal were not disclosed. All four HMA partners and 25 employees will be joining Aldrich, which has $86 million in revenues and 500 team members across the U.S. and India. Aldrich ranked No. 72 on Accounting Today's 2024 list of the Top 100 Firms.
The acquisition of HMA CPA will enable Aldrich to expand to the Spokane and Coeur d'Alene, Idaho, area, by adding HMA's four partners and their employees. Financial terms of the deal were not disclosed.
"We share with HMA a commitment to serving our people, our clients, and our communities and are honored to build on HMA's 40-year legacy," said Aldrich CEO partner John Lauseng in a statement Tuesday. "We are excited to work together to help Spokane and Coeur d'Alene-area companies, owners and employees meet their financial goals."
HMA was founded in Spokane in 1983 and has grown by expanding its services and through acquisition. In addition to Kevin Sell, HMA's other owners, Kristi Bushnell, Laura Hays and Mike Whitmore, will be joining Aldrich, along with their colleagues.
"Joining Aldrich will allow our team to deliver even more value to our clients, as well as create growth opportunities for our professionals," said HMA CEO Kevin Sell in a statement. "Aldrich shares our entrepreneurial spirit, and we look forward to providing more services to our Spokane area clients through Aldrich CPA + Advisors, Aldrich Wealth, and Aldrich Capital Advisors."
After the deal, Aldrich now has eight offices in the Western U.S. across Oregon, California, Colorado, Utah and Washington.
GHJ merges in GGF
Financial terms of the deal were not disclosed. GHJ ranked No. 97 on Accounting Today's 2024 list of the Top 100 Firms, with $60 million in annual revenue in 2023, 20 partners (21 post-acquisition) and over 250 staff. GGF has three partners and six other staff members.
"We are proud to integrate GGF into the GHJ family to strengthen our ability to deliver exceptional value to our clients," said GHJ managing partner Tom Barry in a statement. "Their strong client relationships and tailored approach make them a perfect strategic fit for our firm. This partnership will allow us to expand our capabilities and better serve businesses in Los Angeles and beyond by continuing our mission to help clients thrive."
GGF was founded in 1993 and provides audit, tax and consulting services for entrepreneurial businesses and individuals. Its client base aligns with GHJ's own areas of focus, including entertainment, manufacturing and distribution, nonprofit, private equity and real estate.
"I founded GGF as a forward-thinking, nimble firm dedicated to helping clients realize their financial goals, and joining GHJ felt like a natural fit," said GGF founder Scott Gilderman in a statement. "GHJ shares our commitment to personalized service and provides the additional expertise and resources that will help our clients grow and succeed in an increasingly complex financial environment."
Gilderman will become a senior consultant in GHJ's audit and assurance practice, alongside incoming tax partner Jack Garabedian and client accounting and advisory services managing director Sharon Flummerfelt.
"I am excited to continue working with GGF's clients and offer them access to an even broader range of tax services," Garabedian stated. "By becoming part of GHJ, our clients will benefit from additional expertise in areas such as international tax, state and local tax and tax expertise for transactions while harnessing specialized expertise for businesses, nonprofits and high-net-worth individuals. This partnership allows us to provide even more comprehensive, strategic solutions to support our clients' growth and success."
