Boca Raton, Fla.-based IPA 100 firm HBK CPAs & Consultants (FY24 net revenue of $175.59 million) has announced the acquisition of KHS, a boutique accounting firm based in Paramus, N.J. The deal, expected to close at the end of October, will establish HBK’s newest office in Northern New Jersey. The firm also has offices in Holmdel and Cherry Hill.
The acquisition brings specialized expertise in real estate, amusement and recreation, high-net-worth individuals and family offices. KHS’s client base includes concentrations in real estate, summer camps, high-net-worth individuals and fiduciary services.
“KHS has carved out a unique position in the market by providing Big 4-level expertise with the personal attention and responsiveness that high-net-worth clients and their families value,” said Thomas M. Angelo, CEO and managing principal of HBK. “Their track record of attracting clients who previously worked with larger firms speaks to the quality of their service model. This is exactly the type of specialized capability we want to bring into HBK.”
As part of the transaction, Dina Schwartz and Marc Harbus will join HBK as principals. Schwartz will lead operations at the Paramus location, while Harbus will divide his time between HBK’s Boca Raton and Paramus offices. All seven KHS employees will join the combined firm.
“We’ve built our practice on the principle that high-net-worth individuals and complex clients deserve both technical excellence and personal attention,” said Harbus. “Joining HBK allows us to enhance our service offerings while maintaining the boutique approach our clients expect.”
The addition of KHS supports HBK’s growth strategy focused on strategic acquisitions, geographic expansion and enhanced service delivery capabilities.
