Mergers and Acquisitions: Minnesota to Memphis

Four accounting firms recently announced mergers and acquisitions that are shaping the landscape of the industry.

DSB Rock Island, based in Minnesota, joined forces with Meuwissen, Flygare, Kadrlik and Associates, a move that is expected to result in a combined firm of 110 employees, 16 partners, and approximately $31 million in revenue. The two firms started discussions in early 2024, working together to align their business missions and structures. The partnership aims to provide a more robust service offering for clients while fostering career advancement opportunities for employees.

In another development, Smith + Howard, headquartered in Atlanta, acquired Fahrenheit Advisors, a consulting firm based in Richmond, Virginia. This merger marks Smith + Howard’s first expansion in the Capital Region, enhancing its service offerings, including human capital management consulting services. The financial terms of the deal were not disclosed, but Fahrenheit will continue operating under its own brand, bringing 140 employees and consultants to the combined entity.

Reynolds, Bone & Griesbeck, a Memphis-based firm, welcomed Scott and Pohlman PC into its fold. The acquisition reaffirms RBG’s commitment to strengthening its tax, client advisory, and accounting services, with the aim of expanding solutions to support clients’ growth and success.

Lastly, GBQ Partners LLC, a Top 100 Firm based in Columbus, Ohio, expanded its credit union and financial services practice by acquiring Lillie & Co. and Lillie Resource Group. The deal is expected to position GBQ as the leading auditor of credit union clients in Ohio. The combined growth in size, scope, and client relationships will enable the firm to provide comprehensive solutions to empower the growth of clients’ businesses.

These strategic moves underline the industry’s dynamic nature and the drive of accounting firms to enhance their capabilities, service offerings, and client relationships through mergers and acquisitions.