© 2024 Arizent. All rights reserved.

CALIFORNIA: Weaver merges in PJ

Weaver_DallasOffice.jpg
Details: Weaver, a Top 50 Firm based in Houston, has added PJ LLP, an accounting and advisory firm based in Los Angeles, effective Dec. 1, 2021.

The deal expands Weaver’s ability to provide accounting advisory services to companies in Southern California and other parts of the U.S. As part of the deal, two partners and three more professionals from PJ will join Weaver as part of the firm’s accounting advisory services practice.

Financial terms were not disclosed. Weaver ranked No. 36 on Accounting Today’s 2021 list of the Top 100 Firms. Weaver’s annual revenue was $165 million for the fiscal year ending May 31, 2021. The combined firm has 114 partners and 839 employees, including the two partners and three staffers from PJ.

PJ concentrates on client accounting services and project-based advisory services. The firm also offers subscription-based advisory services to supplement companies’ accounting needs and run their day-to-day operations. The two new partners joining Weaver from PJ are Peter Lee, who will become Weaver’s West Coast commercial practice leader, and Jennifer Dang who will become a client accounting advisory services partner at Weaver.

“PJ’s values, leadership styles and technical capabilities align well with ours, and we’re excited about the expanded capabilities we can offer clients and the new opportunities that will arise for our leaders and team members,” said Weaver CEO and managing partner John Mackel in a statement Wednesday.

In 2019, Weaver expanded in Texas by merging in HSSK and in 2018 by acquiring the tax practice of Condon & Company.

MISSOURI: Marcum merges in BWTP

Marcum LLP Chairman and CEO Jeff Weiner
Marcum LLP Chairman and CEO Jeff Weiner
Courtesy of Marcum LLP
Details: Marcum LLP, a Top 20 Firm based in New York, has added BWTP P.C., a firm in St. Louis, expanding Marcum’s Midwest footprint into Missouri.

The deal is adding eight partners and 51 associates to Marcum. BWTP was founded in 1982 and has grown into a midsized tax, accounting, consulting and advisory firm. The firm serves individuals and closely held businesses in various industries, including construction, dental, manufacturing and distribution, medical, nonprofit, and real estate.

As part of the deal, BWTP Transition Solutions, LLC, which provides merger and acquisition services to dental practices, will become a new service offering under Marcum’s Transaction Advisory group. In January, Mason Road Wealth Advisors, LLC, an affiliate of BWTP, will become part of Marcum Wealth, an investment advisory firm.

“BWTP is an excellent match with Marcum, as they have a long history of delivering superior service based on deep industry knowledge, valuable insight, technical skills, personal attention, responsiveness and significant partner involvement,” said Marcum’s chairman and CEO Jeffrey M. Weiner in a statement Wednesday. “Their longstanding client relationships are a testament to their value as a trusted business partner, which is highly consistent with Marcum’s commitment to superior client service.”

Financial terms of the deal were not disclosed. Marcum ranked No. 15 on Accounting Today’s 2021 list of the Top 100 Firms, with $689.06 million in annual revenue. The firm has over 300 partners and approximately 2,300 employees.

“The integration of BWTP into Marcum represents a significant new opportunity for both our clients and our team, as we leverage the extensive resources and deep knowledge base of a national firm to further advance our services,” said BWTP managing partner Bradley R. Gilmore in a statement. “As part of Marcum, we will be able to tap these resources in any part of the country to bring additional intelligence and market experience to our clients.”

Koltin Consulting Group CEO Allan Koltin advised both firms on the merger. “Marcum continues to build a national powerhouse firm,” he said in a statement. “More and more firms are combining with Marcum because of their advanced technology and innovation, as well as their ability to grow talent. BWTP was sought after by many acquirers but chose Marcum because of their culture and commitment to exceptional client experience.”

In May, Marcum added Starter-Fluid LLC, a finance-outsourcing firm in Boston. Last August, it added Castellano, Korenberg & Company, a firm in Hicksville, New York, that specializes in construction industry clients.

INDIANA: Somerset acquires Dataquest Solutions’ Acumatica practice

Somerset CPAs
Courtesy of Somerset CPAs
Details: Somerset CPAs and Advisors, a Regional Leader firm, is expanding its Somerset Technology Solutions LLC cloud technology practice by combining it with Dataquest Solutions' Acumatica cloud technology practice, effective Nov. 15, 2021.

The new organization will be part of Somerset CPAs and Advisors and will be led by Debbie Mazzullo and David Gelula, both formerly of Dataquest Solutions, and Jason Leveson of Somerset.

“Somerset’s investment in cloud technology is critical to supporting the growth of our clients' businesses,” said Somerset CPAs and Advisors president Ben Kimmerling in a statement Monday. “This technology has exploded in innovation with the dramatic increase of remote workers, and it’s one of the keys to our clients' success.”

Financial terms of the deal were not disclosed. Somerset ranked No. 12 on Accounting Today’s 2021 Regional Leaders list for the Top Firms in the Great Lakes region, with $43.13 million in annual revenue. The firm has over 40 partners and approximately 200 employees.

“Debbie and I are thrilled to become members of the Somerset Technology Solutions team,” Gelula said in a statement. “We look forward to integrating our clients into the practice, to introduce our clients to our new colleagues and to leverage many of the world-class resources now available to us and our clients by becoming a part of the larger Somerset family.”

In January, Somerset added Rowley & Company in Michigan City, Indiana. In 2019, Somerset expanded in Indiana by adding Merrill & Thoman and the Jongleux CPA Group.

PENNSYLVANIA: Louis Plung merging in Love, Scherle & Bauer

Details: Louis Plung & Company, a firm based in Pittsburgh, plans to officially merge Love, Scherle & Bauer, P.C., effective Jan. 1, 2022. However, the two firms have already merged workforces.

The combined firm will have a total of seven partners and 61 staff members. Financial details were not disclosed.

Love, Scherle & Bauer has been a fixture on the Pittsburgh accounting scene since 1939. Originally founded by Harold Hersperger, the firm went through several name changes until becoming LSB in 1988. Louis Plung & Company dates back to 1921 and is a member of BKR International.

“LSB is a great addition to LPC,” said LPC managing partner Louis Plung in a statement Wednesday. “Their standards on client service and how you treat people matches very much with our practice beliefs. We are very happy to be able to continue the LSB tradition. Our younger generation of leaders also shares those values and we are intent on remaining a Pittsburgh firm committed to our clients’ success.”

LSB partner Joseph S. Scherle is retiring, but the rest of the eight-person LSB team is moving from the Grant Building, where they have been based since 1939, into the LPC offices in One Gateway. Financial terms of the deal were not disclosed.

“This is the ideal merger,” said partner Carl Bauer in a statement. “Clients won’t get lost in the shuffle because Louis Plung is a local firm dedicated to great client service like we have been.”


KANSAS: Goering & Granatino adds Jeff Katz, CPA

Details: Goering & Granatino P.A., a firm in Overland Park, Kansas, has merged Jeff Katz, CPA, into the firm, effective Nov. 15.

Goering & Granatino, founded in 2014, provides accounting, part-time CFO, business formation, part-time CFO services and tax strategies for clients, particularly in the hospitality and restaurant industry. Katz previously was with Freirich & Katz in Leawood, Kansas, where he provided tax compliance, planning and strategy for various industries, with a focus on hospitality.

“We couldn’t be more excited to add such a respected professional to our team while supporting businesses and individuals that make our region what it is,” said Goering & Granatino partner Amber Goering in a statement. “We look forward to providing Jeff, who is not retiring and will remain involved with his existing clients’ day-to-day operations, and his clients greater access to our larger team of knowledgeable accountants and expanded access to more resources to help them achieve their business and personal financial goals.”
Michael Cohn
Editor-in-chief, AccountingToday.com
Practice management M&A Integrations Succession planning
MORE FROM ACCOUNTING TODAY