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16 AUG 2024 / M&A UPDATES

Schellman & Company Acquires INSYTE CPAs

- MYCPE ONE Insights Team

Schellman & Company Acquires INSYTE CPAs

Summary

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Schellman & Company, an IPA 100 firm, has acquired Alabama-based audit firm, INSYTE CPAs. This acquisition aims to bolster Schellman's core services and support its growth strategies while promising the seamless transition of INSYTE's clients and personnel, and continued high-quality service.

Acquisition Announcement

Schellman & Company, an IPA 100 firm with FY23 net revenue of $148.5 million, has announced the acquisition of Birmingham, Alabama-based INSYTE CPAs.

Client and Personnel Transition

As part of the acquisition, INSYTE’s clients and personnel will transition to Schellman.
Both firms share a client-centric approach, delivering tailored solutions and top-tier service, making the merger a strategic fit for their respective growth and goals.

INSYTE’s Reputation and Expertise

INSYTE CPAs, led by founder and managing partner Cindy Wyatt, is highly regarded for its expertise in risk management, internal controls, and business processes.
Schellman, on the other hand, has established itself as a leader in SOC reporting, issuing over 1,000 reports annually for clients ranging from startups to Fortune 500 companies.

Cindy Wyatt’s Statement

"We have confidence in Schellman’s depth of expertise in information technology controls and compliance services. Their commitment to high-quality service and excellence aligns with the values our clients have come to expect," said Wyatt.

Strategic Growth and Expansion

The acquisition supports Schellman’s ongoing efforts to expand its core services, in line with its key growth plans for 2024 and beyond.

Seamless Transition Assured

Doug Barbin, president of Schellman & Company, emphasized the firm’s commitment to ensuring a smooth transition, with INSYTE’s clients continuing to receive uninterrupted service and continued focus on industry-leading compliance solutions.

Until next time…

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