CPA and consulting firm Cherry Bekaert expands footprint in Austin

17 December 2020 2 min. read
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Cherry Bekaert, a Richmond, VA-based national accounting and consulting firm, has solidified its position as a leading player in Austin with the acquisition of three local accountancies in the last three years.

Cherry Bekaert entered the Austin, Texas market in early 2018 when it acquired accountancy Powell, Ebert & Smolik, following that up with the purchase of Fieller, Kruger & Skelton in early 2019.

In July 2020, the firm acquired Austin firm PMB Helin Donovan, adding three partners – Don McPhee, Kelly Logan, and Chris Bona – and more than 20 professionals to its presence in the city. The latest transaction brought Cherry Bekaert’s Austin footprint to 13 partners and more than 75 associates, making it the sixth-largest CPA and consulting firm serving the market.

“Our middle market expertise and digital mindset is a good fit for Austin’s robust growth economy and innovative business climate,” said Chad Wiley, tax partner at Cherry Bekaert. “The acquisitions of three local, well-known and well-respected firms have helped the firm enter the Austin market and now we can combine our local relationships and high-touch service with a deeper bench of resources to offer Austin families and businesses a full suite of capabilities under one roof.”

CPA and consulting firm Cherry Bekaert expands footprint in Austin

The firm intends to capitalize on opportunities to serve emerging and high-growth companies based in Austin, as well as numerous firms that are relocating to the area because of its favorable business climate and strong economy.

Cherry Bekaert has been providing accounting, tax, and advisory services to a wide range of industry clients for more than 70 years. With more than 1,200 professionals across over a dozen offices in the Southeast, Cherry Bekaert is one of the top 25 largest CPA and consulting firms in the country.

Aside from its expansion in the Austin, the firm also added to its digital consulting capabilities with the February 2020 acquisition of Icimo Analytics, a Raleigh-based data analytics and services firm.

“Today, every company is a technology company, but they often lack the resources to make use of important business data they are collecting,” said Adam Salvia, assurance partner at Cherry Bekaert. “Whether established or emerging, digitally-enabled businesses are better informed, more efficient, and well positioned for innovative growth and our Digital Advisory team of strategists, technologists and analysts will help them utilize data to address pressing customer demands.”