02 DEC 2024 / MONTHLY ACCOUNTING INDUSTRY CAPSULE

Nov 24 – 10 Mins Accounting Industry Recap

- MYCPE ONE Insights Team

In November 2024, several significant developments occurred among top accounting firms. Here are some of the most engaging articles from that month:

1. CBIZ Completes Acquisition of Marcum

Cleveland-based CBIZ (FY23 net revenue of $1.35 billion) announced the completion of its acquisition of New York-based Marcum LLP (FY23 net revenue of $1.32 billion). This transaction positions CBIZ as the largest full-service professional services advisor of its kind in the U.S., offering accounting, tax, advisory, benefits, insurance, and technology services.

2. CRI Secures Strategic Growth Investment from Centerbridge Partners

Enterprise, Ala.-based Carr Riggs & Ingram (CRI) received a strategic investment from Centerbridge Partners, an alternative investment manager, and Bessemer Venture Partners. This first-time institutional capital infusion aims to enhance the firm's infrastructure, technology, service delivery, talent recruitment and retention, and expansion into new markets and service areas.

3. Entigrity Merges with MYCPE and Rebrands as MYCPE ONE

Entigrity, a leader in staffing solutions, and MYCPE, a provider of CPE services to CPA and accounting firms, announced a merger to create MYCPE ONE. This strategic merger aims to build an integrated ecosystem delivering a comprehensive suite of solutions to CPA and accounting firms, empowering over 500 firms to establish their own offshore operations via the Build-Operate-Transfer (BOT) model through Captives.

4. PKF O’Connor Davies Announces Investment from Investcorp and PSP Investments

New York-based PKF O’Connor Davies announced a strategic investment from Investcorp and PSP Investments. This partnership is expected to accelerate the firm’s growth and expand its service offerings, enhancing its ability to serve clients more effectively.

5. CohnReznick Expands Philippines Footprint

CohnReznick announced the expansion of its footprint in the Philippines, aiming to enhance its global delivery capabilities and provide more comprehensive services to its clients.

6. Eide Bailly Welcomes Chad Martin as Principal in the National Tax Office

Eide Bailly LLP announced that Chad Martin has joined the firm as a principal in its National Tax Office, bringing extensive experience in tax consulting and compliance.

7. Windham Brannon Announces Shareholder Admittance

Atlanta-based Windham Brannon announced the admittance of a new shareholder, reflecting the firm's commitment to growth and leadership development.

8. KSM Announces New Corporate Headquarters

Katz, Sapper & Miller (KSM) announced plans to establish a new corporate headquarters, aiming to accommodate growth and provide enhanced services to clients.

9. Opsahl Dawson Joins with Hauser Jones & Sas

Opsahl Dawson, a leading accounting firm, announced a merger with Hauser Jones & Sas, expanding its presence and service capabilities in the region.

10. Abhesh Kumar Joins Springline Advisory

Springline Advisory announced that Abhesh Kumar has joined the firm, bringing a wealth of experience in financial advisory services.

These articles provide valuable insights into the dynamic changes and growth within top accounting firms.

Until next time…

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Nov 24 – 10 Mins Accounting Industry Recap

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