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Barnes Dennig and Greenwalt CPAs Announce Strategic Merger

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27 SEP 2024 / M&A UPDATES

Barnes Dennig and Greenwalt CPAs Announce Strategic Merger

Barnes Dennig and Greenwalt CPAs Announce Strategic Merger
Summary
It is generated by AI

Cincinnati-based firm Barnes Dennig is planned to merge with Greenwalt CPAs in early 2025 to maximize service offerings for clients across Ohio, Indiana, and Kentucky and enhance career opportunities for their employees. The merger will pool talents specializing in fields such as fractional accounting, advisory services, strategic planning, wealth management, SOC reporting, and sales tax compliance, aiming to drive growth for client businesses and non-profits.

October 1, 2024 – Cincinnati-based Barnes Dennig, a firm with FY23 net revenue of $37.6 million, has unveiled plans to merge with Greenwalt CPAs in early 2025. This strategic partnership aims to enhance service offerings for clients across Ohio, Indiana, and Kentucky and strengthen career pathways for employees. With a shared commitment to high-quality service and regional growth, the merger unites two dynamic firms to address the expanding needs of their clients. 

“This merger brings more bright minds together to help clients achieve their goals,” said Barnes Dennig Managing Director Jay Rammes. “Our combination enhances our capacity to serve larger clients with complex needs, supported by an expanded range of services through our specialized teams. With expertise spanning fractional accounting, advisory services, strategic planning, wealth management, SOC reporting, and sales tax compliance, our partnership is poised to drive growth for client businesses and non-profits alike.” 

Greenwalt Managing Shareholder Jim Wagoner echoed these sentiments, highlighting the merger’s impact on career opportunities. “With our broader range of practice areas, we’re better positioned to attract and retain top talent, which not only supports individual professional growth but ultimately benefits our clients through enhanced service delivery and continuous improvement.” 

A Growing Regional Presence  

Upon merging, the firm will have approximately 215 employees across five offices in Ohio, Indiana, and Kentucky, maintaining their existing locations. Barnes Dennig will continue as the primary brand, with Rammes serving as Managing Director and Wagoner taking on the role of Managing Director for the Indianapolis market. Additionally, Greenwalt shareholders, including Wagoner, Amanda Meko, Brandon Cook, John Fisk, and Marie Myers, will join as Barnes Dennig directors, while Chaleise Fleming will continue as a principal within the new organization. 

History of Excellence and Community Focus   

Founded in 1945, Greenwalt CPAs has established a reputation in Indianapolis for building strong relationships with clients, understanding their goals, and offering strategic guidance to help achieve financial success. Barnes Dennig, founded in 1965 by Bob Barnes and Al Dennig, has grown substantially while staying committed to respect for employees and excellence in client service. 

Rammes and Wagoner agree that the merger aligns their shared values and vision, strengthening the culture of both firms. With this merger, Barnes Dennig and Greenwalt CPAs envision a promising future, poised to deliver even greater value to clients, foster professional growth for employees, and contribute to the resilience and success of the communities they serve. 

Until next time…

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