A day after announcing its acquisition of strategy consulting and M&A advisory firm Nextfed, top 30 accounting firm Aprio said on Thursday it has also added O’Connor Consulting Services, a Bethesda, MD-based firm that specializes in nonprofit business advisory and interim outsourcing services.
Financial terms of the deal weren’t disclosed. OCS joined Atlanta-based Aprio on June 1 with four partners and a staff of 25 professionals.
- Related article: Aprio Acquires Advisory Firm Nextfed
The move is expected to bolster Aprio’s existing nonprofit advisory capabilities, which span outsourced accounting and strategic tax and assurance solutions. With the addition of OCS, Aprio will be able to deliver a larger array of comprehensive services to nonprofit organizations of all sizes—from grassroots initiatives and international non-governmental organizations to national, member-based associations and leading charities—in markets such as Washington, D.C., Chicago, and New York, the firm said on July 5.
Backed by a team of nearly 100 nonprofit-focused professionals, Aprio said it will aim to help organizations strengthen financial reporting, maintain compliance, and maximize their impact in an increasingly complex regulatory environment.
“Aprio is continuing its purposeful expansion—bringing together exceptional talent and specialized capabilities to better serve our clients. The addition of O’Connor Consulting Services is a powerful step forward in that journey. Their deep nonprofit experience and trusted reputation in the Washington, D.C. area, as well as other key markets, significantly enhance our ability to deliver high-impact, business advisory services to mission-driven organizations,” Aprio CEO Richard Kopelman said in a statement.
“Bringing OCS into Aprio strengthens our ability to meet nonprofits where they are—whether they need day-to-day accounting support or strategic guidance for long-term growth,” added Greg Plotts, Aprio’s national nonprofit leader. “This combination expands the depth and agility of our services, allowing us to help organizations adapt and lead with confidence.”
Founded in 1999, OCS has a strong reputation in the nonprofit industry for its ability to provide interim CFO and controller services, finance department assessments, strategic planning and financial analysis, audit facilitation, chart of account redesign, system selection and implementation support, as well as federal and private grant advisory services.
“Since day one, our goal at OCS has been to become a trusted advisor to each and every client while providing our seasoned team members the opportunity to grow and thrive,” said Kathy O’Connor, president and founder of OCS who will lead Aprio’s nonprofit consulting practice along with OCS vice president Trina Gallaher. “Joining Aprio enables us to continue to deliver on this commitment while expanding the ways we can help them fulfill their mission. This combination is a win for our clients, our team, and our future.”
Aprio announced last July that it was receiving private equity backing from Boston-based investment firm Charlesbank Capital Partners. As part of a broader strategy to strengthen the firm’s capabilities and national presence, the firm has made recent strategic acquisitions in Northern and Southern California; Scottsdale, AZ, Austin, TX; Baltimore; Chicago; and Denver.
The McLean Group advised OCS on this transaction.
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