Bend, OR-based Capstone Accounting & Tax has merged with O2 CPA Consulting Group, an Albuquerque, NM-based firm specializing in complex tax matters, forensic accounting, and business advisory services.
Financial terms of the deal weren’t disclosed. O2 founder Bruce Malott will join Capstone as a partner, while O2 partner Cassandra Becker will serve as a tax principal.
This is Capstone’s third M&A deal in 2026. The firm also added Peltier, Gustafson & Miller in New Mexico and North Star Tax & Accounting in Washington state earlier this year.
Capstone secured an outside investment from San Diego-based private equity firm Seaside Equity Partners in April 2025.
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The deal with O2 CPA Consulting Group strengthens Capstone’s specialized tax, forensic accounting, and business advisory capabilities in New Mexico, officials say.
“Bruce brings exceptional technical expertise, entrepreneurial insight, and a longstanding commitment to New Mexico’s business community,” Greg Lankston, managing partner of Capstone Accounting & Tax, said in a statement. “Together with Cassandra and the O2 team, he adds important capabilities and relationships that complement our existing operations. We’re delighted to welcome them to Capstone and look forward to building on their success.”
Founded in 2011, O2 CPA Consulting Group provides specialized federal and state tax planning and compliance, strategic business and financial consulting, mergers and acquisitions support, and forensic accounting and litigation support.
By joining Capstone, O2’s clients and professionals will gain access to broader technical resources and a larger team of specialists.
Malott brings more than four decades of public accounting experience to Capstone. He founded his first accounting firm in 1983, growing it into an organization with approximately 70 employees and $10 million in annual revenue before establishing O2 in 2011. A CPA who also holds the Certified in Financial Forensics credential, Malott has testified as a forensic accounting expert in more than 100 cases and previously served as chairman of the New Mexico Public Accountancy Board.
“I’ve spent my career helping business owners navigate complex financial challenges, make sound decisions and build successful businesses,” Malott said in a statement. “What attracted me to Capstone was the opportunity to build on that work with a broader team and additional resources, while maintaining the personal relationships and commitment to service that have always been important to our practice. Cassandra and I look forward to this next chapter and the opportunities ahead.”
Founded in 2004, Capstone Accounting & Tax provides tax, accounting, and advisory services to businesses and individuals. The firm has offices across the Pacific Northwest and Mountain West.
Photo credit: Capstone Accounting & Tax/LinkedIn
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