Professional services firm Sikich is acquiring the Alexandria, Virginia-based public accounting firm Halt, Buzas & Powell, Ltd. The deal marks Sikich’s entry into the Washington, D.C., and Baltimore metro markets and expands its presence on the East Coast.
“Adding the talented HBP team will strengthen our accounting, tax and audit services and advance our growth across the country,” said Sikich CEO Chris Geier With a presence in the Washington, D.C., area, we’ll be well-positioned to provide valuable business services to more organizations on the East Coast.”
HBP offers audit and assurance, business consulting, outsourced accounting, tax, and information technology services to business across industries. The firm specializes in working with not-for-profit organizations and government contractors. It has specialized experience offering outsourced CFO services to public charities and trade associations.
“The synergies between our firm and the Sikich team will allow us to bring new opportunities to our clients and employees,” said Andy Powell, managing partner at HBP. “Much like our firm, Sikich places great emphasis on trust, integrity and commitment to client success. We look forward to living out those values as part of the Sikich team.”
Approximately 50 HBP employees will join Sikich and continue to work from their offices in Alexandria, Virginia, and Crofton, Maryland. Powell and Marco Fernandes will join Sikich as partners. The transaction is scheduled to close on Dec. 31.
This deal comes on the heels of Sikich’s acquisitions of Brookfield, Wisconsin-based accounting firm Freyberg, Hinkle, Ashland, Powers & Stowell, Oak Brook, Illinois-based accounting firm Scanlan & Leo, and technology consulting firm NexGen Consultants.
Sikich LLP is a global firm specializing in technology-enabled professional services. With more than 900 employees, Sikich was ranked in 2019 as the 28th largest CPA firm in the United States, with estimated revenues of $169 million in 2018.