Details: Rea & Associates, a Top 80 Firm based in New Philadelphia, Ohio, is merging in Arcis Technology Group, effective Nov. 1, 2022.
In addition to accounting services, Rea also offers information services, cybersecurity, HR consulting, retirement plan consulting, along with valuation and transaction advisory services.
Rea's information services practice includes managed security information technology and governance, risk and compliance services.
Arcis has been providing IT support to businesses for 20 years, and Rea anticipates adding Arcis's services will elevate Rea's information services practices to the next level as well as support the firm's plans to expand beyond Ohio. Arcis's current locations are in Massillon, Ohio, and Raleigh, North Carolina.
"With the addition of Arcis, Rea & Associates reaffirms its dedication to providing services that help grow and protect our clients' businesses," said Paul Hugenberg, principal and director of information services at Rea, in a statement. "This merger allows us to offer new, innovative services to our clients and I'm excited to welcome the talented ARCIS professionals to our team."
Financial terms of the deal were not disclosed. Rea ranked No. 78 on Accounting Today's 2022 list of the Top 100 Firms, with $62.9 million in annual revenue, 73 partners and approximately 370 staff members.
The deal will add one principal, Arcis owner and president Jeff Rapp, and 13 staff to Rea.
"Coming together is a natural fit for both of our firms, since we value the same core beliefs," Rapp said in a statement. "Not only will Rea clients benefit from our suite of services, but Arcis clients will now have access to some of the greatest accounting and consulting professionals in the country."
Rea did a number of M&A deals in Ohio in 2020, including with
Kennedy Cottrell Richards,
Jones Battles Group, Dyer Roche & Co. and
WJ Ubbing and Associates.