Top 50 Firm Aprio has merged in CSH&G, and Regional Leader Adams Brown is adding The Technology Specialist Inc.
M&A roundup: Aprio and Adams Brown expand
July 27, 2023 3:33 PM
Aprio merges in CSH&G
Scott Areman
As part of the deal, CSH&G partners Jake Culotta, Chris Gillespie, Joel Scroggins and Steve Hendricks are joining Aprio, along with over 25 team members. Aprio has 1,747 full-time professionals, including 171 partners. Financial terms of the deal were not disclosed. Aprio ranked No. 26 on Accounting Today's 2023 list of the Top 100 Firms, with $318 million in annual revenue.
"CSH&G broadens Aprio's geographic presence in the Southeast and supports our national go-to-market strategy," said Aprio CEO and managing partner Richard Kopelman in a statement Wednesday. "CSH&G will drive continued growth in the region serving clients with accounting services, tax planning, business consulting and more."
Kopelman plans to aggressively build the firm's client base in Alabama and beyond.
"Joining Aprio will provide access to a wide offering of expertise in new services and enable us to better serve our clients in meeting their business needs and objectives," Culotta and Gillespie said in a joint statement. "The combination of our firms represents a great opportunity for us to bring next-level services and to facilitate our continued growth in Birmingham and Alabama."
Whitman Transition Advisors partner Terry Putney consulted with Aprio and CSH&G in the transaction. "I knew that CSH&G joining Aprio would provide a unique expansion opportunity in a fast-growing market, while providing the CSH&G team an impressive platform to provide amazing new opportunities and servicing abilities for their people and clients," he said in a statement.
Aprio has completed more than 20 strategic mergers and acquisitions in the past five years. Other recent deals include Salver & Cook in Fort Lauderdale, Florida, taking effect Aug.1, and Gomerdinger & Associates in Denver, which took effect July 1. The Salver & Cook deal is adding two partners, Cory Cook and Vanessa Piedrahita, and over 20 Miami-based team members and 12 professionals in Medellin, Colombia. The Gomerdinger & Associates deal is adding tax lead partner Cindy Gomerdinger and more than 12 team members.
Other recent deals include
Adams Brown adds Technology Specialist
Courtesy of Adams Brown
The wholly owned subsidiary will provide managed IT and cybersecurity services to protect clients' systems, extending beyond the financial services offered by the accounting firm.
in response to the ever-growing demand for technology support. Building upon the strong TTS foundation, Adams Brown Technology Specialists is uniquely positioned to ensure technology is aligned with business goals.
"While Adams Brown offered cybersecurity services, we are now able to offer deeper support for clients through managed IT services," said Adams Brown Technology Specialists CEO Chris Schneider in a statement Thursday. "Our small-business clients continually share their challenges with managing the ever-changing technology landscape. We're now positioned to help in a larger way."
Shayne Yonce founded The Technology Specialist in 2007 and now works as chief experience officer.
"We were interested in aligning with Adams Brown because of our shared commitment to helping clients grow, innovate and align technology to their goals while maintaining the highest level of cybersecurity in an increasingly interconnected world," he said in a statement.
Financial terms of the deal were not disclosed. Adams Brown is a $43 million firm, and TTS earns $2.4 million. The deal added 13 people from TTS when the firms merged and the team has since grown to 21 members. After the merger, the combined firms will have 336 employees and 18 partners. Adams Brown previously acquired
