Herbein + Co., Inc., an accounting firm based in Reading, Pennsylvania, has added Watterson & Associates Inc., an organizational psychology firm based in Chagrin Falls, Ohio, effective Oct. 1, 2022.
WAI was founded in 1996 and helps companies manage their employee development needs, advising them on hiring decisions, employee development, and return on investment. As part of Herbein, WAI will initially operate as a Herbein division called Herbein | Watterson Talent Solutions. Then in January 2024, the division will be known as Herbein Talent Solutions.
"As we all know, the nature of the workplace is rapidly changing — and as companies and organizations adapt to their next normal, organizational psychologists have an important role to play in the post-pandemic era," said Herbein managing partner David W. Stonesifer in a statement Wednesday. "As business leaders look for an edge that will put their companies ahead and make their teams more efficient, we are excited to add this vital resource to our portfolio of client services."
Financial terms of the deal were undisclosed. Herbein's revenue in fiscal year 2022 was $46 million. The firm has 35 partners and more than 250 team members. Herbein is marking its 50th year in business in 2022 and plans to do further mergers and acquisitions. Last year, it added
WAI is led by Dr. Gary Kustis, who specializes in organizational psychology and business, and the team's operations vice president Kristin Smith. They will join Herbein | Watterson Talent Solutions as partners. They work with a team of freelance consultants, supported by founder David Watterson, who will stay on as an advisory consultant. "We're excited to be joining Herbein as it reaches this milestone of a half-century of business success," Kustis said in a statement. "With Herbein's vision and the foundation laid by Dr. Dave Watterson, we're ready to get started on the next 50 years."
