Cherry Bekaert will acquire the business of Herbein + Company Inc., a CPA advisory firm providing tax, audit, advisor, HR consulting and risk management services in a transaction expected to close later this month.
Financial terms of the deal weren’t disclosed.
As a top 100 firm on INSIDE Public Accounting’s (IPA) list, Herbein brings extensive experience in agribusiness, construction, financial institutions, manufacturing, higher education and government industries to Cherry Bekaert.
Herbein, headquartered in Reading, Pennsylvania, with additional offices throughout the commonwealth, represents Cherry Bekaert’s inaugural expansion into Pennsylvania. Herbein also operates offices in Delaware and New Jersey. This acquisition strengthens Cherry Bekaert’s connectivity across the northeastern, mid-Atlantic and midwestern regions. Herbein’s client base — which includes family-owned business, private equity, business enterprise and privately held business clients — aligns with Cherry Bekaert’s existing clientele.
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Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, stated: “This acquisition not only expands our geographical reach into Pennsylvania but also enhances our service offerings across key industries. Herbein’s client-centric approach aligns well with our Firm’s values and strategic objectives. Together, we look forward to driving greater value for our clients and further strengthening our regional presence.”
David Stonesifer, partner and CEO of Herbein + Company, commented: “We are excited for this new chapter with Cherry Bekaert. Our clients will benefit from an expanded suite of offerings while still receiving the same level of service they have come to expect from Herbein.”
As is typical for firms that operate in alternative practice structures, the transaction would consist of two acquisitions: Cherry Bekaert Advisory LLC would acquire Herbein + Company’s nonattest assets while Cherry Bekaert LLP would acquire Herbein + Company’s attest assets. The integration will be seamless, with both firms maintaining the high standards of service expected by their clients. The unified team will operate under the Cherry Bekaert brand.
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