In a deal involving two of the 75 largest accounting firms in the U.S. by revenue, Raleigh, NC-based Cherry Bekaert said on Thursday it has acquired Louisville-based firm MCM CPAs & Advisors.
MCM has approximately 370 employees in six offices spread out over three states and brought in nearly $72.9 million in revenue during its most recent fiscal year, making it the 75th largest firm in the U.S.
Financial terms of the deal were not disclosed.
“MCM is the perfect addition to help us enter these new market locations with an established partner that has a reputation for providing outstanding client service and possesses the size to accelerate our growth strategy,” Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, said in a press release. “MCM’s depth of knowledge across numerous industries also creates strategic opportunities to better serve our current clients and attract new ones. We are excited to welcome MCM to the firm.”
Founded in 2009, MCM’s offices stretch across Kentucky, Ohio, and Indiana. The firm provides a variety of tax, assurance, accounting, and consulting services to privately and publicly held businesses, not-for-profits, small businesses, and families throughout the Southeast region and across the country.
“Our combined offerings will bring complementary strengths to the table,” said MCM Managing Partner Brad Smith. “This is an unprecedented opportunity to provide our clients with even more innovative service offerings and for MCM employees to benefit from additional opportunities for professional growth. To that end, we are thrilled to be joining forces with Cherry Bekaert.”
“The pairing of these two top 100 accounting firms will bring together two organizations that are fully aligned in their core values and quality of client service,” added Allan Koltin, CEO of Koltin Consulting Group and an advisor on the acquisition. “MCM has a prominent reputation within the region and chose Cherry Bekaert because of their close cultural alignment and business outlooks for their team and their clients.”
Cherry Bekaert is the 26th largest accounting firm in the U.S. by revenue, pulling in $349 million during its most recent fiscal year. The firm has 1,500-plus employees, more than 140 partners, and now has 33 offices in 17 states.