Atlanta-based Smith + Howard has acquired Richmond, Virginia-based consulting firm Fahrenheit Advisors, effective Nov. 26.
The combination marks Smith + Howard's first expansion in the Capital Region, and will expand its service offerings, including introducing a set of human capital management consulting services.
Founded in 2010, Fahrenheit offers services around business strategy, finance and accounting, human capital management, sales advisory and executive search services.
Financial terms of the deal were not disclosed, but Fahrenheit will continue to operate under its own brand, and brings 140 employees and consultants to the combination. Smith + Howard ranked No. 11 on Accounting Today's Regional Leaders list for the Southeast, with $48.7 million in revenue and over 200 employees.
"We are pleased to welcome Fahrenheit to Smith + Howard," said Sean Taylor, CEO of Smith + Howard, in a statement. "Fahrenheit's operational excellence, respected market position, and dedication to client success make them an ideal fit for us. This addition to the Smith + Howard family of companies is another key step to expanding our service offerings, our national footprint, and creating new opportunities for our clients and colleagues."
Smith + Howard, which received an undisclosed amount of funding from private equity firm Broad Sky Partners
in late 2022 , operates under an alternative practice structure in which licensed CPA firm Smith + Howard PC provides audit and other attest services to its clients, and Smith + Howard Advisory LLC provides tax, accounting and advisory services.
It has undertaken a number of acquisitions since taking on PE money, including Dallas-based VIP Search and Solutions earlier this year, and CPA firm Market Street Partners in August of 2023.
BellMark Partners provided advisory services to Fahrenheit in this transaction.