Brentwood firm adds 60 employees, growing clients to LMBC, the state’s biggest professional firm

LBMC buys W Squared

LBMC, the largest accounting, staffing and business outsourcing firm of its kind in Tennessee, has expanded its portfolio of business services with the acquisition of W Squared in Brentwood, Tenn.

The purchase last week expands LBMC’s reach into outsourcing, procurement and other finance and accounting support operations and add 60 employees to the company.

In Chattanooga, where LBMC and its affiliated staffing, technology, IT and other specialty businesses have 35 employees, market leader Dennis Blanton welcomed the purchase.

“We have eight different affiliate companies we operate in Chattanooga and the W Squared acquisition will really help fill out our business process solutions,” Blanton said. “They bring a lot of expertise in the finance and accounting end of business.”

W Squared was founded in 2011 by Tammy Wolcott, a former corporate controller for I-Trax, Inc. During her six years with the company, she has helped oversee centralized payroll for 1,800 employees, and managed the company’s cash concentration and investment strategies.

LBMC CEO Jeff Drummonds said both firms are headquartered in the Nashville suburb of Brentwood and have worked together through mutual clients over the past decade. “We are excited to be adding them to our team permanently,” he said.

The addition of W Squared will bring LBMC’s total staff statewide to about 600 employees.