Cherry Bekaert acquires accounting software specialist Kerr Consulting
Cherry Bekaert, a national accounting and consulting firm, has acquired Kerr Consulting, a Houston-based provider of accounting software managed services.
Founded in 1987, Kerr Consulting is a North American Sage partner with expertise across the entire suite of Sage products. The firm provides managed services in business applications and cloud technology to over 2200 clients in all 50 states and over 20 countries.
Kerr Consulting has over 90 employees, according to LinkedIn, and has approximately $20 million in annual revenue.
Cherry Bekaert’s acquisition of Kerr Consulting will bolster the technology component of its outsourced accounting practice. Cherry Bekaert and Kerr Consulting were both named 2023 North American Sage Platinum Club Winners.
“With Kerr Consulting onboard, we will be able to enhance and expand our Sage offerings and delivery across our diverse range of clients," said Michelle Thompson, CEO of Cherry Bekaert Advisory LLC. "This acquisition will significantly benefit the customers of both our firms, and we are excited about the prospect of working together to continue to provide digitally driven, industry-aligned solutions to our clients."
Drake Star, a technology-focused investment bank, served as exclusive financial advisor to Kerr Consulting on the transaction.
"We are thrilled to join forces with such a well-respected national Firm," said Dave Kerr, CEO of Kerr Consulting, "Cherry Bekaert's mission and core values align with the way Kerr Consulting operates, and we are confident this move will be beneficial to our clients and our people."
Private equity firm Parthenon Capital acquired Cherry Bekaert in 2022 and split the firm into an alternative practice structure, with separate firms for attest and non-attest services.
Cherry Bekaert is the 24th-largest accounting and consulting firm in the United States, according to IPA, with $572 million in annual revenue. The Raleigh, NC-based firm has approximately 2,400 employees.
