Herbein + Co. Inc., a Regional Leader firm based in Reading, Pennsylvania, has acquired Bumpers & Co., an accounting and advisory firm in Wilmington, Delaware, effective Oct. 28, 2024.
The deal is part of Herbein's strategic plan to expand its footprint by establishing its first location in Delaware.
"We are very excited for the Bumpers team to join Herbein, and the possibilities that lie ahead are immense," Herbein partner and CEO David Stonesifer said in a statement. "We look forward to working with the Bumpers & Company team to help clients succeed with confidence in the Delaware market."
Bumpers & Co.'s origins date back over a century. The firm provides accounting, auditing, tax and management advisory services to individuals, small businesses and professional clients. As part of the deal, Bumpers managing partner Douglas Kook and director Chadwick Milton will join Herbein as partners, along with a team of 18 professionals. They will remain at their current location in Wilmington, which will become a new Herbein office.
Financial terms of the deal were not disclosed. Herbein & Co. ranked No. 18 on Accounting Today's 2024 Regional Leaders list of the Top Firms in the Mid-Atlantic, with $52.23 million in annual revenue, over 40 partners and more than 330 employees.
"Herbein's depth of knowledge, experience and resources will allow us to better serve our clients and enhance our current service offerings," Kook said in a statement. "By joining forces with Herbein, we can offer new opportunities for our people to learn and develop professionally alongside the firm's exceptional team and broad client base."
"Although Herbein continues to drive success nationally and internationally, it is also well known for its focus on supporting the communities where its teams live and work," Milton stated. "After more than 100 years in business, we knew the 'fit' had to be perfect for our team, our clients and our community — and we are confident joining Herbein gives our clients the edge they need to grow their businesses and stay competitive in today's dynamic business environment."
Herbein partner and CFO Joseph Witkowski played an important role in the acquisition process. "With Herbein and Bumpers & Co. joining forces, we see incredible opportunity for our team members and clients," he stated.
About a year ago, Herbein acquired
