Choreo Acquires Cherry Bekaert Wealth Management
November 16, 2022
Choreo, LLC has entered into an agreement to acquire Cherry Bekaert Wealth Management LLC, a Southeast-based wealth management business with approximately $1 billion in assets under management and advisement. The deal includes a strategic partnership with Cherry Bekaert Advisory LLC, is expected to close by year-end (subject to customary conditions), and expands Choreo’s AUM to roughly $14.5 billion post-close.
- Buyers
- Choreo, LLC
- Targets
- Cherry Bekaert Wealth Management LLC
- Sellers
- Cherry Bekaert Advisory LLC, Cherry Bekaert LLP
- Industry
- Wealth Management
- Location
- North Carolina, United States
- Transaction Type
- Buyout
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Cherry Bekaert has acquired substantially all the assets of DeBlanc, Murphy & Murphy, LLC, integrating the firm's attest and non-attest practices into Cherry Bekaert LLP and Cherry Bekaert Advisory LLC respectively. The asset purchase strengthens Cherry Bekaert's presence in the greater Washington, D.C. market and expands its audit, tax and advisory capabilities for business and individual clients.
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Cherry Bekaert Acquires Kerr Consulting
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Cherry Bekaert Acquires MCM CPAs & Advisors
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Choreo Acquires Enso Wealth Management
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Parthenon Capital Makes Strategic Growth Investment in Cherry Bekaert
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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.
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