Top 50 Firm Aprio LLP is merging in San Antonio- and Austin-based Ridout Barrett & Co. CPAs & Advisors.
RBC has a strong focus on construction and real estate, and the deal is expected to significantly expand Atlanta-based Aprio's construction practice.
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 revenue, almost 150 partners and approximately 1,500 employees. RBC has five partners and over 50 total employees.
"Expanding to Texas and integrating the RBC team aligns seamlessly with our strategic priorities and growing needs of our Texas clients," said Aprio CEO and managing partner Richard Kopelman, in a statement. "This merger doubles the size of our firmwide construction practice and aligns two firms with successful histories, deep industry expertise and shared values, giving us the opportunity to expand services to clients and provide meaningful career opportunities for our team members."
"We are thrilled about this strategic combination," said RBC managing partner Melanie Geist, who is joining Aprio as an office leader and tax partner, in a statement. "Aprio and RBC have shared a complementary focus on investing in culture and talent to create a better team and client experience. We will leverage this new partnership to provide our clients with more tools to realize their goals. RBC clients will benefit from our broadened strengths and capabilities across many industries, especially construction and government contracting that are facing shifting market dynamics and our eagerness to anticipate what's next."
The deal is expected to mark the start of a major buildout in Texas for Aprio, which has completed over 20 M&A deals since 2017, bringing on, among others,
