Ascend, a strategic partner for regional accounting and advisory firms backed by private equity firm Alpine Investors, has announced that Gollob Morgan Peddy joined its modern platform for accounting leaders.
The Tyler, TX, firm is the latest addition to Ascend’s Southwest footprint, adding nine partners and 100 staff to the Ascend team.
“Gollob Morgan Peddy shares many characteristics that have become synonymous with Ascend firms – young leadership that sees around corners; clients and talent who feel strongly about personal service; and the imagination to make big plans for an independent future, while seeing the wisdom in integration,” said Nishaad (Nish) Ruparel, President of Ascend.
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GMP CEO Taylor Mathews said, “Since our founding in 1982, Gollob Morgan Peddy has been dedicated to serving our clients, community, and staff with unwavering commitment. These values are not only shared by Ascend but are also embodied in their approach. In today’s rapidly evolving business landscape, our partnership with Ascend equips GMP with enhanced resources that benefit both our firm and our clients, all while preserving our core values of relationship-building and exceptional service. The partners at GMP are enthusiastic and invigorated to embark on this new chapter with Ascend.”
Jamie Billings, Head of Platform M&A at Ascend, said, “For more than four decades, Gollob Morgan Peddy has built an exceptional foundation in East Texas and beyond by placing its clients and people at the center of every decision. This commitment has earned GMP its stellar reputation as a trusted advisor to businesses and individuals throughout the Southwest and a great place to build a career. GMP has always paired this strong foundation with a clear vision for the future—a vision that has led their young leadership team to embrace this exciting step from a position of strength. We are thrilled to partner with GMP to support their continued success.”
GMP is known for its strong, people-oriented culture and service ethic. GMP is ranked among the Top CPA firms nationally and regionally by business and accounting industry journals.
As is common in private equity deals with CPA firms, GMP has adopted an alternative practice structure separating non-attest and attest services. Tax and business advisory services will be provided by GMP Advisors, a new entity affiliated with Ascend. Attest services will be provided by an independently owned and licensed CPA firm.
The Ascend platform enables regional accounting firms with between $15 and $50 million of revenue, committed leadership, great cultures, and a big vision for the future to remain independent while accessing the sophisticated resources of a national firm to reach their full potential. Ascend platform firms are currently operating in more than a dozen states nationwide.
Ascend’s Founder & CEO, David Wurtzbacher, launched the platform in January 2023 as an alternative for strong regional accounting firms seeking a modern solution to the challenges embedded in the traditional partnership structure. The appeal of Ascend’s solution immediately propelled the company into the upper tier of the accounting industry, establishing it as an Accounting Today Top 30 firm in under two years and Mr. Wurtzbacher as one of the “Top 100 Most Influential People in Accounting” in each of the last three years.
Terms of the deal were not disclosed.
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