Choreo Acquires Cherry Bekaert Wealth Management

Choreo, LLC Acquires BDO USA's Affiliated Wealth Management Business

October 31, 2023

Wealth Management

Choreo, LLC has acquired the affiliated wealth management business of BDO USA, a transaction that closed on October 31, 2023. The deal brings approximately $8.1 billion in assets under management or advisement and seven locations to Choreo, increasing the firm's total AUM/AUA to roughly $23.2 billion; terms were not disclosed.

Choreo Acquires Enso Wealth Management

November 3, 2022

Wealth Management

Choreo, an independent registered investment adviser, has agreed to acquire Enso Wealth Management, a Petaluma, California-based RIA managing about $1.8 billion in client assets. The deal expands Choreo's West Coast footprint and increases its assets under management to approximately $13.5 billion; terms were not disclosed and the acquisition is expected to close before year-end.

Parthenon Capital and Management Acquire RSM US Wealth Management, Rebrand as Choreo

February 22, 2022

Wealth Management

Parthenon Capital, together with the company's management and advisors, has purchased RSM US Wealth Management LLC from RSM US LLP and relaunched the business as Choreo, LLC. The carve-out creates an independent, PE-backed wealth management platform headquartered in Chicago that will pursue organic growth and acquisitions while continuing to serve its existing client base.

Cherry Bekaert Acquires Kerr Consulting

August 6, 2024

IT Services

Cherry Bekaert has acquired Kerr Consulting, a Houston-based business applications and cloud technology provider and top North American Sage partner. The deal (Kerr brought in approximately $20 million in annual revenue) strengthens Cherry Bekaert’s Sage and outsourced accounting capabilities and expands its technology-driven solutions nationwide; Kerr was majority-owned by Proviso Capital and was advised by Drake Star on the transaction.

Cherry Bekaert Acquires MCM CPAs & Advisors

August 10, 2023

Accounting & Tax

Cherry Bekaert has completed the acquisition of MCM CPAs & Advisors LLP, a regional accounting and advisory firm headquartered in Louisville, Kentucky. The deal expands Cherry Bekaert's footprint into Kentucky, Ohio and Indiana and adds approximately 370 employees and $72 million in annual revenue to the firm.

Parthenon Capital Makes Strategic Growth Investment in Cherry Bekaert

June 30, 2022

Accounting & Tax

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.