M&A roundup: Anders and Adams Brown expand

June 22, 2020 3:29 PM

Anders CPAs + Advisors plans to merge in Cummings, Ristau & Associates at the end of June; and Adams, Brown, Beran & Ball, Chtd.has acquired the Jonesboro, Arkansas, office of EGP PLLC.

MISSOURI: Anders to merge in Cummings Ristau

Details: Anders CPAs + Advisors, a Regional Leader based in St. Louis, is adding Cummings, Ristau & Associates, another St. Louis firm, effective June 30.

As part of the deal, partners Mark Cummings and David Ristau will be joining Anders, along with all 19 staff members, bringing the firm’s total number of partners and staff to 230, with revenues of approximately $41.5 million. Financial terms of the deal were not disclosed, but Anders ranked No. 9 on Accounting Today’s 2020 list of the Midwest Regional Leaders, with $38.6 million in revenue before the combination.

Cummings Ristau was formed in 1996 and specializes in clients in the banking industry in Missouri and Illinois. The merger will give Anders a new niche and expand its financial institution client base. Cummings Ristau partners and staff will move to Anders’ downtown St. Louis office this summer.

“Adding a strategic partner with an established niche unique to our industry offerings is important to our vision for growth, and we found a great match with Cummings Ristau,” said Anders managing partner Robert Minkler in a statement Monday. “Given the current environment and the increasing relationship between clients, accountants and their bankers as a result of the Paycheck Protection Program and other parts of the CARES Act, the timing of this merger will add value and expertise for clients from both firms. The role community banks and financial institutions will play in the recovery and growth of our economy has never been greater.”

Cummings Ristau offers audit, tax, regulatory compliance and loan review services to banks and credit unions, along with IT audits, bank directors’ examinations, employee benefit plan audits and internal control reviews.

ARKANSAS: Adams Brown acquires Jonesboro office of EGP

Details: Adams, Brown, Beran & Ball Chtd., a CPA and advisory firm based in Great Bend, Kansas, has acquired the Jonesboro, Arkansas, office of EGP PLLC, expanding its geographic footprint and its construction industry specialty.

All six people in the former EGP Jonesboro office have joined Adams Brown, with Mark Barnett, partner-in-charge of the Jonesboro office and firm-wide construction services, taking on the role of partner and construction industry team leader. The office will stay at its current location in Jonesboro.

“I’m excited to be part of the Adams Brown team,” Barnett said in a statement. “This was a great opportunity to bring significant additional resources and industry specialties to Arkansas businesses. We are now able to better serve them with many more of the complex issues they encounter in the construction industry.”

Along with Barnett, the Jonesboro location is also helmed by Ron George, who has helped the firm build a significant construction and real estate practice across Arkansas.

“Our deep industry experience will be expanded with this addition to the firm,” said Adams Brown managing partner Brian Staats in a statement. “We are excited to have Mark help drive our strategic direction in the construction space at the same time we expand our geographic footprint into Arkansas.”