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LBMC Expands Tennessee Footprint with Acquisition of Frazee Ivy Davis
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Subscribe10 DEC 2024 / SERVICES UPDATES
LBMC, a leading Tennessee-based business consulting firm, has announced the acquisition of Frazee Ivy Davis, a well-respected CPA firm based in Memphis, Tennessee. This strategic move expands LBMC's reach and service offerings across the Southeast, adding five shareholders and 35 professionals to its team, boosting its presence in tax, audit, and advisory services, and growing its clientele significantly.
Brentwood, Tenn.-based firm LBMC (FY23 net revenue: $207.2 million) has announced a significant expansion with the acquisition of Memphis, Tenn.-based Frazee Ivy Davis, effective December 2, 2024. This strategic move strengthens LBMC’s presence across Tennessee and the Southeast, enhancing its service offerings and client base in key markets.
Strategic Growth in Memphis
The acquisition of Frazee Ivy Davis adds five shareholders and 35 professionals to LBMC’s team, bringing the firm to a total of six locations, over 900 team members spanning 30 states, and a client roster exceeding 11,000 nationwide.
"We’ve been carefully evaluating the right opportunity in Memphis for years," said LBMC CEO and Managing Shareholder Jim Meade. "With Memphis as Tennessee’s second-largest metro center and a critical logistics hub, this expansion cements LBMC’s position as Tennessee’s largest professional services firm and the third-largest in the Southeast."
Expanding Expertise and Talent Pool
Frazee Ivy Davis, a respected CPA firm with roots dating back to the 1950s, brings a strong foundation in tax, audit, and advisory services. Its specialization in industries such as healthcare, manufacturing, logistics, hospitality, and real estate aligns seamlessly with LBMC’s focus areas.
John Ivy, President of Frazee Ivy Davis, expressed enthusiasm about the partnership: “We are excited to join a nationally renowned team with complementary strengths, shared core values, and a commitment to delivering exceptional client experiences. This partnership enhances our ability to provide a broader range of expertise and scalable solutions to our clients while offering new opportunities for our team."
Enhanced Service Offerings
The addition of Frazee Ivy Davis bolsters LBMC’s capabilities in advisory services, including human resources, technology solutions, staffing and recruiting, cybersecurity, consulting, and wealth advisory. With healthcare accounting comprising 40% of LBMC’s business, the firm’s expanded expertise and resources are well-positioned to meet the growing demand in this sector.
“Memphis offers a strategic advantage with its thriving entrepreneurial ecosystem and access to top talent from regional universities,” added Meade. “This environment aligns perfectly with LBMC’s vision for innovation, growth, and development.”
Continued Growth Strategy
The Frazee Ivy Davis acquisition follows LBMC’s 2023 expansion into Louisville, Kentucky, and the launch of new service lines, including revenue cycle management and family law support services. LBMC continues to focus on strategic growth to deliver comprehensive, cutting-edge solutions to clients nationwide.
About LBMC
Founded in 1984, LBMC is a top 40 accounting and business consulting firm in the United States and one of the Southeast’s largest firms. The company serves privately-owned and private-equity-backed middle-market companies across industries, including healthcare, manufacturing, real estate, and technology. With a commitment to innovation, LBMC integrates advanced business intelligence and AI technologies to drive client success.
About Frazee Ivy Davis
Based in Memphis, Tenn., Frazee Ivy Davis has a long history of delivering high-quality accounting and advisory services. Specializing in tax, audit, valuation, and financial dispute resolution, the firm supports private companies, families, and individuals with tailored solutions that drive growth.
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