Two North Carolina firms, DMJ & Co. PLLC in the eastern part of the state and Johnson Price Sprinkle PA in the west, are merging to create DMJPS, effective June 1.
The new firm projects to have a combined revenue of $24 million, projected to put it in the top 200 U.S firms. DMJPS will employ over 135 professionals, including 13 partners, and have seven statewide office locations in Greensboro, Durham, Sanford, Wilmington, Asheville, Marion and Boone. DMJ is based in Greensboro and JPS in Asheville. The combination will extend the firm’s footprint from North Carolina’s mountains to the coast.
The combined firm will offer business advisory, tax and assurance services to businesses, their owners and high wealth individuals. Expanded services will include valuations, mergers and acquisitions, succession and exit planning, and health care practice consulting.
Financial terms were not disclosed. JPS earned $8 million in annual revenue, while DMJ’s annual revenue was $16 million. DMJ ranked No. 23 on Accounting Today’s 2022 Regional Leaders list of the Top Firms in the Southeast. JPS will be bringing five partners, while DMJ has eight partners. JPS’s total employee count is 48, while DMJ’s is 87.
JPS CEO Benjamin Hamrick and DMJ managing partner Michael Gillis will together lead the combined firm as co-CEOs.
“By becoming DMJPS, we can utilize our collective strengths to become more specialized with greater horsepower,” Gillis said in a statement Wednesday. “We will retain the personal service and approach we’ve always valued. Growth opens up new opportunities, and I’m excited about our future-ready firm.”
The firm’s expanded industries will include professional services, real estate, manufacturing, agriculture and hospitality.
“Our dedication to providing exceptional results and solutions to our clients and growth opportunities for our team members is unwavering,” Harrick said in a statement. “This announcement is based on the foundation of two exceptional firms with well-established relationships and shared commitment to our clients, team members, and communities. Nothing is more important than our expertise, integrity, and personal connections.”
