Ascend has acquired William Vaughan Co., an INSIDE Public Accounting top 300 accounting and advisory firm based in Maumee, OH.
Financial terms of the deal, which was announced in May, weren’t disclosed. The addition of William Vaughan brings 15 partners and more than 115 professionals to Ascend.
This is Arlington, VA-based Ascend’s third M&A deal this year. In January it acquired Gollob Morgan Peddy in Tyler, TX, and last month it added Montgomery, AL-based Jackson Thornton. Ascend member firms—McGee, Hearne & Paiz; Lucas Horsfall; and Wilson Lewis—have also made M&A deals to expand their reach during the first quarter of this year.
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Backed by private equity firm Alpine Investors, Ascend partners with regional accounting and advisory firms but allows them to stay independent while providing the firms resources to help them grow. The partner firms relinquish their traditional partnership structures in order to join Ascend’s platform.
Ascend provides access to growth capital, talent acquisition and training, management resources, best-of-breed technology, artificial intelligence tools, an offshore captive, shared back-office services, a catalytic leadership system, and modernized equity incentives to its partner firms.
Founded in 1959, William Vaughan serves clients across manufacturing and distribution, professional services, construction, restaurants, and retail.
“William Vaughan Co. describes its purpose as ‘Earning Trust, Creating Lifelong Relationships.’ We see immense wisdom in that north star,” Ascend President Nish Ruparel said in a statement. “It is our privilege to champion trust and relationships in the middle market by investing in William Vaughan’s independence and supporting its transformation.”
“For over 65 years, William Vaughan Co. has earned its reputation as a trusted advisor to some of the most successful businesses and entrepreneurs in the Midwest, and as one of the best places to build a career in public accounting,” added Jamie Billings, head of platform M&A at Ascend. “William Vaughan is emblematic of the firms we are building Ascend to serve, and we are proud to build upon this rich legacy together.”
According to William Vaughan CEO Aaron Swiggum, the partnership is a direct response to the firm’s three strategic priorities: maintaining independence, investing in technology, and securing capital for sustained growth.
“Our partnership with Ascend directly addresses these priorities, empowering us to remain autonomous, accelerate innovation, and support ongoing expansion,” he said in a statement.
As part of the transaction, William Vaughan will adopt an alternative practice structure, with tax and advisory services provided through WVC Advisors, an entity affiliated with Ascend, while attest services will continue through an independently owned CPA firm.
Photo caption: Ascend President Nish Ruparel
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