Cherry Bekaert adds strategy practice with Treacy & Company acquisition

16 December 2022 Consulting.us 2 min. read

Cherry Bekaert, a national mid-market accounting and consulting firm, has acquired Treacy & Company (T&Co), a boutique strategy consulting firm.

Founded in 2006 by Michael Treacy, a former professor of management science at MIT Sloan School of Management, T&Co has since grown to more than 50 professionals across offices in Boston and Chicago. The consultancy works on projects in growth strategy, innovation strategy, digital and analytics strategy, operating model design, M&A strategy, and revenue acceleration.

The acquisition will add a strategic growth & innovation practice to Cherry Bekaert’s advisory business, which has practices in digital advisory, risk, transactions, cybersecurity, government contractor consulting, benefits consulting, and wealth management.

The T&Co deal will also expand Cherry Bekaert’s presence into Boston and Chicago, as well increase its industry depth in consumer products, manufacturing, automotive, and healthcare.

Cherry Bekaert adds strategy practice with Treacy & Company acquisition

"With the addition of T&Co's deep strategic skillset, we will be able to contribute more meaningfully to our clients' strategic needs, while attracting and retaining top talent to master the tools of growth and innovation," said Michelle Thompson, CEO of Cherry Bekaert. "We are delighted to have their organization join us as they will be a real differentiator and help us better serve our clients holistically."

The deal arrives approximately nine months after Joshua Coleman was appointed managing partner of T&Co. The firm at the time was transitioning to a partner-led operating model and aggressively hiring senior talent.

"We are delighted to join with Cherry Bekaert as it enables us to offer both our clients and our people an expanded opportunity to connect from strategy to impact," said Michael Treacy, who serves as chairman of his namesake firm.

Cherry Bekaert is the 25th-largest CPA firm in the US, according to Inside Public Accounting, with $292.97 million in annual revenue. The Raleigh, NC-based firm has more than 1,500 people, according to LinkedIn, and has offices in California, Florida, Georgia, North Carolina, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington, DC.