M&A Watch

Accounting Today - - Practiceresources - From page 35

Ir­win Ler­man founded Ler­man CPA Group in 2014 and has been pro­vid­ing ac­count­ing ser­vices to clients in the Chicago area for more than 48 years.

Ernst & Young ex­pands dig­i­tal learn­ing

De­tails: Ernst & Young has merged in Nog­gin­labs, a Chicago-based dig­i­tal learn­ing or­ga­ni­za­tion, adding 52 pro­fes­sion­als to EY’S peo­ple ad­vi­sory ser­vices prac­tice.

Fi­nan­cial terms of the deal were not dis­closed. EY, based in New York, ranked No. 3 on Ac­count­ing To­day’s 2018 list of the Top 100 Firms. The Big Four firm re­cently re­ported $14 bil­lion in an­nual rev­enue in the U.S. and $34.8 bil­lion across its global net­work. Nog­gin­labs is a 20-year-old firm that of­fers cus­tom­ized dig­i­tal learn­ing sysTyler­w_on­de­mand_mk­t­place_dec2018.pdf 1 11/9/2018 tems, 2:43:28 in­clud­ing PM sim­u­la­tions, learn­ing por­tals, gam­i­fi­ca­tions and ex­pert sys­tems. The em­ploy­ees that EY is bring­ing on board have ex­pe­ri­ence in in­struc­tional de­sign, con­tent pro­duc­tion, graphic and 3D de­sign, and soft­ware de­vel­op­ment. Nog­gin­labs has re­ceived more than 100 awards for its prod­ucts.

EY has been ex­pand­ing its con­sult­ing prac­tice by adding cre­ative agen­cies, in­clud­ing Cit­i­zen, a dig­i­tal de­sign firm in Port­land, Oregon, in Jan­uary. EY has worked with Nog­gin­labs in the past and came to know the com­pany’s founder.

MAS­SACHUSETTS Si­kich ac­quires HR tech con­sult­ing firm

De­tails: Si­kich LLP, a Top 100 Firm, said it is buy­ing Ex­ec­u­tive Al­liance, a hu­man re­sources con­sult­ing firm in the Bos­ton area that as­sists com­pa­nies with set­ting up their pay­roll and hu­man cap­i­tal man­age­ment tech­nol­ogy.

Fi­nan­cial terms of the deal were not dis­closed. Si­kich, based in Naperville, Illi­nois, ranked No. 28 on Ac­count­ing To­day’s 2018 list of the Top 100 Firms, with $151.9 mil­lion in an­nual rev­enue in 2017. As part of the deal, 14 em­ploy­ees from Ex­ec­u­tive Al­liance are join­ing Si­kich. The firm al­ready has more than 750 em­ploy­ees. Ex­ec­u­tive Al­liance was founded in 1992 and is based in Marl­boro, Mas­sachusetts. The firm’s HR pro­fes­sion­als help busi­ness clients build their HR, ben­e­fits and pay­roll man­age­ment pro­cesses, as well as eval­u­ate and in­te­grate tech­nol­ogy so­lu­tions. Si­kich al­ready has a hu­man re­sources con­sult­ing prac­tice that helps busi­nesses in dif­fer­ent in­dus­tries with re­cruit­ing, on­board­ing, com­pen­sa­tion, com­pli­ance, ben­e­fits, em­ployee re­la­tions and de­vel­op­ment.

NE­VADA Eide Bailly merges in Kohn & Co.

De­tails: Eide Bailly LLP, a Top 100 Firm based in Fargo, North Dakota, is ex­pand­ing its pres­ence in Reno, Ne­vada, by adding the tax and au­dit firm Kohn & Co., ef­fec­tive Dec. 3. The deal will add two part­ners, Beth Kohn-cole and Beth Far­ley, along with 13 other staff mem­bers, who will all re­lo­cate to Eide Bailly’s cur­rent of­fice in Reno. Eide Bailly also has of­fices in Las Ve­gas and Elko, Ne­vada. Across the firm, Eide Bailly has 270 part­ners and ap­prox­i­mately 2,000 staff mem­bers.

Fi­nan­cial terms of the deal were not dis­closed. Kohn & Co. has an­nual rev­enue of $2.3 mil­lion, while Eide Bailly’s an­nual rev­enue is $293 mil­lion. Eide Bailly ranked No. 21 on Ac­count­ing To­day’s 2018 list of the Top 100 Firms.

NEW MEX­ICO Moss Adams merges in BPW&C

De­tails: Moss Adams has ex­panded in the Al­bu­querque area by adding BPW&C, a New Mex­ico-based ac­count­ing firm.

The deal will add 21 pro­fes­sion­als, in­clud­ing one part­ner and two direc­tors, to Moss Adams’ cur­rent of­fices in Al­bu­querque, where 90 peo­ple will now be work­ing. Moss Adams has more than 2,900 pro­fes­sion­als, in­clud­ing 336 part­ners, across the firm. Mean­while, for­mer BPW&C prin­ci­pal Eric Her­rera plans to open a new firm of his own spe­cial­iz­ing in con­sult­ing and client ac­count­ing ser­vices, and five BPW&C em­ploy­ees will join him in the new ven­ture.

Fi­nan­cial terms of the deal were not dis­closed. Moss Adams, based in Seat­tle, ranked No. 12 on Ac­count­ing To­day’s 2018 list of the Top 100 Firms, with $577 mil­lion in an­nual rev­enue.

BPW&C’S ori­gins go back to 1975. The firm pro­vides tax, ac­count­ing, es­tate plan­ning and busi­ness ad­vi­sory ser­vices to mid­dle-mar­ket and fam­ily-owned busi­nesses, and also op­er­ates a pri­vate client ser­vices prac­tice.

Koltin Con­sult­ing Group CEO Al­lan Koltin ad­vised BPW&C on the merger. “BPW&C and their team will make for a sig­nif­i­cant ad­di­tion to Moss Adams and their Al­bu­querque of­fice,” he said. “Tom Brod­er­ick is not only a dy­namic and suc­cess­ful en­tre­pre­neur, he and his group spe­cial­ize in pro­vid­ing their clients with deep busi­ness con­sult­ing and ad­vi­sory ser­vices. Their com­bi­na­tion with west­ern re­gion pow­er­house Moss Adams will be a great fit cul­tur­ally and pro­vide even greater re­sources for their clients.”

NEW YORK Prager Metis ex­pands on Long Is­land

De­tails: Top 100 Firm Prager Metis CPAS has com­bined with Syos­set, N.y.-based S.A. Koenig & As­so­ci­ates CPAS.

Terms of the deal were not dis­closed. S.A. Koenig man­ag­ing part­ner Steven Koenig and part­ner Donna Dis­clafani will join Prager Metis as part­ners; the rest of their team will also be join­ing the larger firm. For the mo­ment, they will be re­tain­ing their of­fice in Syos­set; Prager Metis also has an of­fice nearby.

S.A. Koenig pro­vides tax, ac­count­ing, au­dit­ing, con­sult­ing and wealth man­age­ment ser­vices to a range of clients, rang­ing from con­struc­tion com­pa­nies and real es­tate com­pa­nies to ben­e­fit plans and la­bor unions.

Prager Metis ranked No. 53 on Ac­count­ing To­day’s 2018 Top 100 Firms list, with $84 mil­lion in 2017 rev­enue. It has 61 part­ners, over 400 staff, and 10 of­fices, in­clud­ing lo­ca­tions in Europe and Asia.

Phil Whit­man of Whit­man Busi­ness Ad­vi­sors fa­cil­i­tated the deal.

Hecht joins LM Co­hen

De­tails: LM Co­hen & Co., an au­dit, tax and ad­vi­sory firm based in New York, has added Don­ald Hecht, CPA, and his staff at Hecht and Co. As part of the deal, Hecht will be­come a part­ner emer­i­tus at LM Co­hen. He and his staff will work out of LM Co­hen’s new space on Fifth Av­enue in

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