Arlington, Va.-based Ascend, a partner for regional accounting firms supported by private equity firm Alpine Investors, announced that Boston-based IPA 200 firm Walter Shuffain (FY23 net revenue of $30.3 million) will become the latest firm to join its growth platform, effective Jan 1.
“There is a clear opportunity to build an independent, middle-market firm of consequence in greater Boston and to create exceptional careers for their people. Walter Shuffain has been building in that direction for years, and our partnership will only accelerate that transformation,” said Nishaad (Nish) Ruparel, Ascend’s president.
“We’re making this change from a position of strength. We already have a transition plan for the next generation in place and we have a great partner group that will be able to carry on our business, but the landscape is changing. We don’t know what’s going to be out there and what’s going to impact us three to five years down the road that we don’t even see right now. So being able to make this change from a position of strength is a significant advantage,” said Jonathan Yorks, Walter Shuffain’s MP.
Walter Shuffain adds 114 professionals, including 13 partners, to Ascend’s team. This transaction also adds Boston to Ascend’s growing national footprint. Terms of the deal were not disclosed.
“We had several pathways available to us but Ascend made the most sense because we have great cultural alignment. We believe in the same things. They carry the same values, putting people first, which means putting their clients first. Because when you have happy people, you have happy clients,” Yorks said.
