Crowe Sells ESOP Services Practice

Chicago-based IPA 100 firm Crowe LLP (FY22 net revenue of $1.1 billion) is selling its employee stock ownership plan (ESOP) services and certain tax-related 401(k) plan services to ESOP and 401(k) third party administration and recordkeeping firm Blue Ridge ESOP Associates. As part of the deal, most of the Crowe professionals who are 100% dedicated to these services will transition to Blue Ridge.

“We have incubated and grown this suite of services, and view this as a good moment in time to sell this business to a leading firm that specializes in this space,” says Crowe tax MP Niki Bencik. This is a win-win-win deal: a win for our clients, a win for our people and a win for both organizations.”


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