Accounting & Tax Acquisitions in 2022

Baker Tilly US, LLP has acquired Bay Area tax consultancy ACG, LLP, effective Dec. 1, 2022. The deal brings ACG's ~50 tax professionals into Baker Tilly to expand the firm's high-end corporate tax capabilities—particularly in the technology and transportation sectors—and strengthen its Bay Area presence following a recent acquisition of True Partners Consulting.

Mazars USA LLP has acquired Boston-based accounting firm Samet & Company PC, adding five partners, three managing directors and 65 professionals to its US practice. The deal expands Mazars' footprint in the Boston/New England market and augments its audit, tax and advisory capabilities serving privately owned businesses, family offices and high-net-worth clients.

Sikich LLP has signed an agreement to acquire the operating assets of O'Malley & Kwit LLC, a Chicago-based tax and accounting boutique. The deal will bring the O'Malley & Kwit team into Sikich's downtown Chicago office, strengthening Sikich's tax capabilities and presence in the Chicago market; the transaction was scheduled to close on November 30, 2022.

Denver-based search fund Mercator Search Group acquired Charter Impact, a California provider of outsourced accounting, payroll and back-office services for charter schools and educational nonprofits. Mercator said it plans to track operational performance more closely, introduce marketing efforts, and expand Charter Impact nationally while preserving the company’s mission-driven culture and team.

Apiary Capital has made a £10m minority growth investment in Oxford-headquartered accountancy and advisory firm Shaw Gibbs, acquiring a significant equity stake to support the firm's expansion. The funding will back Shaw Gibbs' buy-and-build growth strategy, targeted M&A programme and expansion of its accounting, tax and payroll services to existing and new clients.

Pivotal, a tech-enabled advisory, accounting, and tax firm, has acquired Byerly & Associates and will combine the teams in Auburn, Alabama. The deal brings Richard Byerly and his Auburn-based professional team into Pivotal, expanding the combined firm's professional practice services and presence in the chiropractic vertical.

Stout has acquired Vantage Point Advisors, Inc., a provider of business valuation and financial advisory services. The acquisition expands Stout's valuation capabilities—particularly in life sciences and technology—and strengthens its presence on the West Coast and in Texas.

Baker Tilly US, LLP has acquired tax consultancy True Partners Consulting, LLC effective Nov. 1. The deal brings True Partners' ~210 tax professionals and unclaimed-property capability into Baker Tilly, strengthening the firm's corporate tax expertise and expanding its U.S. tax footprint.

IRIS Software Group has acquired Thomson Reuters myPay Solutions to expand its CPA-focused payroll and tax services in the Americas. The deal adds outsourced payroll processing, banking and tax reporting capabilities—serving CPA firms and their SMB clients across the United States—to IRIS' existing accountancy and payroll portfolio.

Scalar LLC has acquired the valuation division of GuideCap Partners, retaining GuideCap valuation employees and taking on the division's valuation clients. The deal establishes a new Dallas office for Scalar and allows GuideCap to focus exclusively on its core investment banking business.

Ryan, a global tax services and software provider, has acquired Kurz Group, a Dallas-based property tax consulting firm. The deal brings 16 Kurz professionals and nearly 800 clients to Ryan and expands Ryan’s property tax capabilities across retail, industrial, multifamily, and office real estate segments in the United States.

Core Support Partners, a Medina, Ohio-based provider of outsourced HR, accounting, legal and back-office services, acquired New Vision Bookkeeping & Payroll, an Ohio-based bookkeeping and payroll services firm that also provides accounting and software implementation services. New Vision will operate as a Core Support subsidiary and continue to be led by founder Jacque Nuske, expanding Core Support's service offering to franchises, entrepreneurs, and small- to mid-market clients.

Moss Adams has entered into an asset purchase agreement to combine with Dallas-based Kurtz & Company, P.C. Under the agreement, Kurtz's founder David Kurtz and a team of 18 employees will join Moss Adams and Kurtz's client relationships will transition to Moss Adams effective December 1, 2022, strengthening Moss Adams' Dallas market presence and tax/accounting capabilities.

FMS Solutions, a New Heritage Capital portfolio company, has acquired Retail Financial Services (RFS), a provider of accounting, tax preparation and tax planning services for independent grocers and multi-site retailers. The transaction is FMS' third add-on since partnering with New Heritage and expands FMS' tax and planning capabilities within its tech-enabled and SaaS-based suite for multi-site retailers.

Dains Accountants has acquired Isosceles Finance, a UK-based accounting outsourcing, HR consultancy and interim FD provider founded in 2001 with a network of four UK offices. The deal is an add-on to the Dains group (which is PE-backed by Horizon Capital); Isosceles' management (Mike O'Connell and Greg Eaton) are remaining with the business to support growth.

Kelso & Company (via its Kelso Fund XI) has agreed to acquire WilliamsMarston LLC from Align Capital Partners. WilliamsMarston is a Boston-based accounting, tax, valuation and managed SEC services advisor that grew significantly under ACP (expanding to multiple geographies, adding service lines and completing six add-on acquisitions) and will partner with Kelso to accelerate its next phase of growth.

WilliamsMarston LLC, a PE-backed accounting, tax and valuation advisory firm, has acquired Atlanta-based Paradigm Advisory Group, a boutique accounting advisory practice. The acquisition (WilliamsMarston's sixth in two years) expands WM’s Southeast presence and enhances its technical accounting and transaction advisory capabilities; Paradigm co-founders Travis Hannon and Chris Bitler and the full Paradigm team joined WilliamsMarston at close.

Blue Ridge ESOP Associates, a portfolio company of Levine Leichtman Capital Partners, acquired substantially all of the Tax Benefits Plan Services (BPS) business of Crowe LLP. The BPS business—nearly 30 employees serving over 400 clients and more than 500 plans—will transition to Blue Ridge to strengthen its ESOP and 401(k) third‑party administration and recordkeeping capabilities.

WilliamsMarston LLC, a national accounting, tax and valuation advisory firm backed by Align Capital Partners, has acquired Tucson-based Oracle Capital LLC, a provider of complex valuation consulting services. The deal brings Oracle Capital's managing partner Rob Maxfield and his team into WilliamsMarston and expands the firm's valuation capabilities and presence in the Southwest as an add-on to its platform.

Citrin Cooperman has acquired New Jersey-based accounting firm Untracht Early, effective August 1, 2022. The acquisition brings Untracht Early’s team of over 150 partners and staff into Citrin Cooperman, expanding the buyer’s capabilities in alternative investments, individual tax, and family office services.

Moss Adams has combined with Mengali Accountancy, a boutique Healdsburg, California firm specializing in real estate accounting and outsourced accounting services, with the Mengali team joining Moss Adams effective August 1, 2022. The deal expands Moss Adams' outsourced accounting capabilities and brings experienced personnel (including founder Renee Mengali) into its consulting and outsourced accounting practice.

Aprio, LLP acquired CPAsNET, a community and alliance of accounting and business consulting firms, expanding Aprio's national firm alliance and offering CPAsNET member firms access to Aprio's specialty services, leadership development, and peer-network resources. The acquisition reinforces Aprio's strategy to provide growth and innovation platforms for small- and mid-sized CPA firms across the United States.

Ryan, the Dallas-based global tax services and software firm, has acquired Paradigm DKD Group, L.L.C., doing business as Paradigm Tax Group (PTG), a national provider of property tax management services. The deal expands Ryan’s property tax capabilities and nationwide footprint by integrating PTG’s specialists and technology platform into Ryan’s existing suite of tax services and software.

N4 Investments, the direct investment vehicle of N4 Partners, has made a seven-figure growth investment in Opulus Financial, a Glasgow-headquartered CFO solutions business. The funding will support hiring and capability building across the firm's 40+ person team and enable further geographic expansion across Scotland and beyond.

Citrin Cooperman has acquired Chicago-based Shepard Schwartz & Harris, bringing ten partners and more than 50 staff into Citrin Cooperman as the firm's first Midwest office. The deal moves SSH's non-attest assets into Citrin Cooperman Advisors LLC and the attest assets into Citrin Cooperman & Company, LLP, expanding Citrin Cooperman's capabilities in real estate, construction, and manufacturing & distribution markets.

Aduro Advisors acquired VMS Fund Administration, a Princeton, New Jersey–based venture capital and private equity fund administrator, in a transaction effective July 1, 2022. The deal — financed by existing Aduro investor PPC Enterprises — expands Aduro’s East Coast presence, adds VMS’s team to Aduro (including founders Dominick Turiano and Joe Pruscino who joined as Partners), and broadens Aduro’s client portfolio.

Dains Accountants, a Horizon Capital‑backed UK accountancy firm, has acquired Barringtons Limited, a small accounting and tax practice with offices across Staffordshire, Cheshire and Shropshire. The deal expands Dains' presence in the North Midlands and is the first of several planned transactions following Horizon Capital's 2021 investment in Dains.

CrossLink Professional Tax Solutions (CPTS) has acquired TaxProFirm, LLC (operating as TaxPro Alliance) and Audit Allies Association, Inc., adding a service bureau and an audit-assistance solution to its product and service offering for professional tax preparers. The acquisitions (effective June 27, 2022) expand CrossLink's capabilities and customer support options for tax preparers across the United States.

Yount, Hyde and Barbour (YHB) will acquire Glass Jacobson, PA, a Maryland-based tax, accounting, and management consulting firm, effective July 1, 2022. The deal adds 6 principals and 54 staff to YHB, expands its Maryland/DC footprint (offices in Owings Mills and Rockville) and creates a joint wealth-management venture to broaden client offerings.

Sikich LLP has signed an asset purchase agreement to acquire the operating assets of Petrow Kane Leemhuis, PC, an Indianapolis-based public accounting firm. The move expands Sikich's presence in the Indianapolis market and brings approximately 12 Petrow Kane Leemhuis employees into Sikich's Indianapolis office to strengthen audit, tax and advisory capabilities.

Parthenon Capital has made a strategic, growth-oriented investment in Cherry Bekaert to support the firm's business advisory practices, funding technology, infrastructure, and expansion initiatives. The transaction restructures Cherry Bekaert into Cherry Bekaert LLP (attest services) and Cherry Bekaert Advisory LLC (business advisory/non-attest services) and is intended to accelerate organic growth and enable strategic acquisitions.

Catax, a Ryan company and UK specialist in tax relief, has acquired R&D tax relief consultancy Access2Funding. Access2Funding, headquartered in Birkenhead, will continue to operate under its own name with all 32 staff retained, expanding Catax/Ryan's UK R&D tax capabilities.

Baker Tilly US, LLP has combined with Seattle-based accounting firm Bader Martin, P.S., effective June 1, bringing roughly 100 professionals into the Baker Tilly network. The move expands Baker Tilly’s footprint into the Pacific Northwest and enhances its tax and wealth advisory capabilities for high-net-worth individuals, family businesses and nonprofits.

A private-equity fund managed by Ares Management committed to acquire a significant minority equity stake in Ryan, LLC, valuing the tax services and software firm at $2.5 billion. The investment is being made in partnership with Ryan's management team and existing investor Onex Partners, which will retain a significant minority interest; proceeds will support growth, technology transformation, and continued expansion.

WilliamsMarston LLC, the Align Capital Partners-backed accounting, tax and valuation advisory firm, has acquired Moffett & Associates, a boutique corporate tax consultancy headquartered in El Segundo, California. The deal brings WilliamsMarston's headcount to 156 professionals and expands its corporate tax capabilities and West Coast presence; founder Marty Moffett and his team joined WilliamsMarston at close.

Skylark Private Equity Partners closed an investment to acquire Cost Segregation Authority (CSA), a Lindon, Utah–based provider of cost segregation studies and tax-related services for real estate investors. Skylark said the deal will help scale CSA’s market reach and operational capabilities as part of the firm’s focus on lower middle market, tech-enabled business services in the tax advisory space.

Ryan, a global tax services and software firm headquartered in Dallas, has acquired Greystone Property Tax Advisors, a property tax consulting practice located outside Boston, Massachusetts. Founder William Quigley Jr. and his team will join Ryan's Property Tax practice, expanding Ryan's property tax consulting capabilities and market coverage across the United States.

Calabrese Consulting has acquired Houston-based Albeck Financial Services, combining two women-owned accounting and financial consulting firms in a deal effective April 12, 2022; terms were not disclosed. The combination creates an 80+ employee firm serving more than 350 clients, expanding Calabrese’s SEC reporting, SPAC and pre-IPO advisory capabilities.

New Mountain Capital made a majority investment in Citrin Cooperman to support the accounting and advisory firm's organic and acquisition-led growth. The partnership will provide Citrin Cooperman with capital and resources to expand services, pursue technology and advisory acquisitions, and grow its footprint across new markets.

BV Investment Partners has made a majority investment in Source Advisors, a Fort Worth-based tax incentive solutions and software provider. Gainline Capital Partners sold its portfolio company Source Advisors to BV as part of a transaction aimed at accelerating Source's technology-enabled offerings and expansion through the CPA channel.

Sofia Développement has invested in Comptasanté, an online accounting services provider focused on independent healthcare professionals. The deal brings Comptasanté into the Sofia group to create commercial and operational synergies, with Comptasanté management remaining invested and the combined group operating from shared offices in Nantes.

Ryan, a global tax services and software provider, has acquired Catax, a Manchester-based specialist in R&D tax credits and capital allowances with operations in the UK and Canada. The acquisition broadens Ryan's R&D and capital allowances capabilities and expands its SR&ED practice in Canada while adding more than 100 specialists and 7,000+ clients to Ryan's global tax services platform.

Ryan, a global tax services and software provider, has acquired Marvin F. Poer and Company, the second-largest property tax consulting firm in the United States. The deal adds 186 employees and 12 locations to Ryan’s Property Tax practice, expanding national coverage and access to Ryan’s broader tax services and technology.

Exponent Private Equity has agreed a strategic partnership and significant minority investment in Xeinadin Group Limited to support the accountancy group’s growth plans. Xeinadin — a consolidated group of around 100 accountancy and business advisory practices across the UK and Ireland with more than 1,500 employees and annual revenues in excess of £100 million — will use the capital to grow organically and via acquisitions and to invest in data-driven technologies.

Ryan, the global tax services and software firm headquartered in Dallas, has acquired Tax Advisory Services Group, LLC (TASG), a Houston-based excise tax and motor-fuels compliance provider. The deal expands Ryan's fuels tax and excise-tax compliance capabilities (including vape and tobacco tax reporting) and brings TASG's U.S. tax specialists and Philippines-based operations into Ryan; TASG co-founders Oscar L. Garza and Khristine K. Espinoza will join Ryan as Principals.

WilliamsMarston LLC, an Align Capital Partners-backed accounting, tax and valuation advisory firm, acquired Bay Valuation Advisors (BVA), a provider of valuation advisory services founded in Oakland, California. The deal expands WilliamsMarston’s valuation capabilities and national footprint, adding BVA’s 24 professionals and offices across multiple U.S. states to the platform as part of an ongoing add-on acquisition strategy.