M&A roundup: Deals in New Hampshire, Indiana, Tennessee and Maine

July 15, 2019 9:00 AM

Melanson Heath merges in Seelye & Schulz; Somerset CPAs and Advisors adds Peters, Browning & Co.; Rodefer Moss & Co. combines with both Fortner Smalley; and Thrower, Blanton & Associates; Austin Associates acquires Button’s Tax Services.

NEW HAMPSHIRE

Details: Melanson Heath has added longtime Nashua accounting firm Seelye & Schulz PA CPAs, effective July 15, 2019.

The merger will allow Seelye & Schulz PA CPAs and Melanson Heath professionals to expand their accounting, tax, and audit service personnel. The combined firm will operate under the Melanson Heath name. Financial terms of the deal were not disclosed. Melanson Heath, also based in Nashua, ranked 13th on Accounting Today’s Regional Leaders list for 2019, with $15.32 million in annual revenue before the merger. The combined firm’s revenue will exceed $20 million. Seelye & Schulz partners Paul E. Seelye and Anthony Engaldo are joining Melanson Heath along with the rest of their team. The combined firm has 13 active full-time principals, and its total headcount is 126.

Melanson Heath Managing Principal Scott G. Toothaker sees advantages in the combination. “Seelye & Schulz PA CPA’s is a highly-respected CPA firm in our area,” he stated. Our objectives, goals, and ethical standards mirror one another. The combined firm will continue to offer a blend of professional expertise and personalized service. We are committed to meeting and exceeding the expectations of not only our clients, but also our dedicated employees, and the betterment of our communities as a whole. We are excited to have their team join ours, and to have Paul and Anthony join us as principals in the firm.”

Seelye also sees benefits for his partners and staff. “Seelye & Schulz PA CPA’s has had a successful 40-year history of providing clients with the very best service and advice,” said Seelye in a statement. “Merging with Melanson Heath will create new opportunities for our clients and staff. This merger will allow our team to provide a wider array of services to our clients. Melanson Heath is a perfect fit for us as they share in our values. They have exceeded all of our hopes for a firm to merge with and will allow us to continue to provide all of the services you need, while remaining small enough that you always feel welcome and at home.”

INDIANA

Details: Somerset CPAs PC, a Regional Leader firm based in Indianapolis, has merged in Peters, Browning & Co. PC, also based in Indianapolis.

Peters Browning has offered a wide range of accounting, consulting and tax services since 1993. Owners Gary Peters and Bob Browning are joining Somerset as partners, along with nine other professionals from the firm, bringing the total number of Somerset employees to 223 and 35 partners.

Somerset CPAs ranked 16th on Accounting Today’s Regional Leaders list of the top firms in the Great Lakes Region, with $37.24 million in annual revenue. It is a member of the BDO Alliance USA association of independently owned accounting and consulting firms.

TENNESSEE

Details: Rodefer Moss & Co. PLLC , a multi-state accounting and advisory firm based in Knoxville, has expanded its footprint in the Upper East Tennessee/Southwest Virginia area by merging with the firms of Fortner Smalley PLLC and Thrower, Blanton & Associates PC, effective July 1, 2019.

The combined firm will operate under the Rodefer Moss name with 160 employees and offices in Tennessee, Kentucky, Indiana, and Virginia. Financial terms were not disclosed.

“There’s tremendous experience, brainpower, and passion for the work within Thrower Blanton and Fortner Smalley, successful firms with great reputations,” said Rodefer Moss CEO Jimmy Rodefer in a statement. “Together, under one banner, our collective resources improve what we do and make us better for the clients we serve and who depend on us.”

Rodefer Moss has been offering assurance, consulting, tax compliance and small-business services since 1990. It is a member of the BDO Alliance USA and a member of the Construction Accounting Network.

Fortner Smalley has provided accounting and business services for over 35 years. Its clients are involved in various industries including construction, health care, technology, and oil and gas. The firm specializes in assurance services, taxation, litigation support, and business consulting.

“We are eager to unite with firms that share our same goals and values,” stated Fortner Smalley managing member Forooz Smalley. “This merger provides us with significant resources, expertise, tools and flexibility that we can use to address the ever-changing needs of our clients. Our region is experiencing tremendous economic growth and we wanted to ensure that we have the knowledge and tools to support that growth.”

Thrower, Blanton & Associates was established in 1948 by Monroe B. Thrower, who was joined by his son M. Bardin Thrower Jr. in 1975. TBA provides financial guidance to local businesses and individuals, and offers services in trust & estate planning, financial planning, tax preparation, bookkeeping, payroll, assurance services, and computerized accounting setup.

“We are ready to see how much we can learn from our new partners and I know they are interested in learning from us,” said TBA managing partner Brian Blanton in a statement. “This partnership combines some of the best and most experienced financial minds in the region possessing a variety of experiences and capabilities. In one organization, under the Rodefer Moss name, we will be even better, stronger, and bigger, with more resources, for our clients.”

MAINE

Details: Austin Associates PA, a firm with offices in Auburn and Norway, Maine, has expanded to Madison by acquiring Button’s Tax Services.

Lloyd "Chip" Button and three of his staff members joined Austin when Austin acquired his practice in early January. Financial details were not disclosed.

“After working with Chip on various projects over the years, we knew that he and his staff would fit very well with our culture and company principles,” said Austin managing partner Philip Doucette in a blog post. “As expected, they have been a great addition to our team.”

Button’s team in Madison will be continuing to work with existing clients and welcoming new clients to the firm. “It is our hope to become a valued business member in the Madison/Skowhegan community and honor the reputation Chip and his team have built over the years,” said Austin.