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Brown Edwards Acquires Shelton & Co. CPAs in Virginia
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Subscribe03 DEC 2025 / M&A UPDATES
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Brown Edwards, a leading accounting firm, has acquired Shelton & Co. CPAs, a practice specializing in the construction industry. The acquisition, Brown Edward's second in Virginia within a month, enhances the accounting firm's competitive edge in providing construction industry-oriented accounting and financial services while expanding its workforce.
Top 100 accounting firm Brown Edwards has acquired Shelton & Co. CPAs, a Lynchburg, VA-based practice specializing in construction industry clients for more than three decades. Financial terms were not disclosed.
This marks Brown Edwards’ second Virginia expansion in under a month, following its mid-November acquisition of DesRoches & Co. in Virginia Beach. The Shelton transaction adds eight professionals, including three Certified Construction Industry Financial Professionals, bringing the firm to 56 partners and 465 total staff.
“This strategic partnership brings a team of experienced professionals into our firm, led by Chad Maddox, Mark Carlson, Chad Gunter and Mason Brugh, who have continued Fred Shelton’s legacy of excellence,” the firm said in a statement. “With the expansion of our Lynchburg office, we’re better positioned than ever to serve construction clients throughout Central Virginia and beyond.”
Brown Edwards is consistently ranked among the nation’s top construction accounting firms, including recognition by Construction Executive Magazine as a Top 50 firm and a top 10 firm for credentialed construction specialists.
CEO Laura Sprouse said she was “thrilled” to welcome the Shelton team. “Their deep expertise in construction accounting and strong client relationships align perfectly with our mission to provide exceptional service and innovative solutions,” she noted.
“Joining forces with Brown Edwards marks an exciting new chapter,” added Maddox. “Their resources and expertise will allow us to continue delivering the personalized service our clients value while expanding the opportunities and depth of services we can offer.”
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