Cherry Bekaert Acquires Fellow IPA 100 Firm

In a major combination of top firms, Raleigh, N.C.-based IPA 100 firm Cherry Bekaert (FY22 net revenue of $349 million) is merging in Louisville, Ky.-based IPA 100 firm MCM CPAs & Advisors LLP (FY22 net revenue of $72.9 million).

Founded in 2009, MCM provides a variety of tax, assurance, accounting and consulting services to privately and publicly held businesses, not-for-profits, small businesses and families throughout Kentucky, Ohio and Indiana. The deal adds approximately 370 MCM staffers to the Cherry Bekaert team, and expands the latter’s reach into three new states.

“MCM is the perfect addition to help us enter these new market locations with an established partner that has a reputation for providing outstanding client service and possesses the size to accelerate our growth strategy,” says Cherry Bekaert Advisory CEO Michelle Thompson. “MCM’s depth of knowledge across numerous industries also creates strategic opportunities to better serve our current clients and attract new ones.”

“Our combined offerings will bring complementary strengths to the table,” adds MCM MP Brad Smith. “This is an unprecedented opportunity to provide our clients with even more innovative service offerings and for MCM employees to benefit from additional opportunities for professional growth.”

“The pairing of these two Top 100 accounting firms will bring together two organizations that are fully aligned in their core values and quality of client service,” says Allan Koltin, CEO of Koltin Consulting Group, who advised both sides on the merger. “MCM has a prominent reputation within the region and chose Cherry Bekaert because of their close cultural alignment and business outlooks for their team and their clients.”

 

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