Arlington, Va.-based Ascend, a partner for regional accounting firms supported by private equity firm Alpine Investors, announces the addition of Pasadena, Calif.-based Lucas Horsfall to its growth platform.
Lucas Horsfall serves families and business owners primarily in the manufacturing, real estate and construction industries, with increasing growth in the technology, health care, and food and beverage sectors. In addition to its Pasadena headquarters, the firm’s Encino and Irvine, Calif., offices also become part of Ascend’s national footprint.
Mike Amerio
The deal adds 15 partners and approximately 125 professionals to Ascend’s team. Terms of the deal, which takes effect Oct. 1, were not disclosed.
Mike Amerio, CEO of Lucas Horsfall Advisors LLC, said, “As we look out over the next decade or so, there’s so much change coming in terms of how to attract and retain people, how to navigate technology including AI, and how to manage a growing need for offshoring. Ascend gives us the right resources and the right technology team to manage these fast-paced changes well beyond just the workstation.”
“Lucas Horsfall has a long and rich history as a trusted advisor in Southern California, with a concentrated client base in the San Gabriel and San Fernando Valleys, the Inland Empire, and Orange County. They have many defining characteristics that fit well with Ascend’s people-first culture and business model,” said Nishaad (Nish) Ruparel, Ascend’s president.
As is common in private equity deals with CPA firms, Lucas Horsfall has adopted an alternative practice structure that separates non-attest from attest services. Tax and business advisory services will be provided by Lucas Horsfall Advisors LLC, a new entity affiliated with Ascend. Attest services will be provided by Lucas Horsfall Murphy & Pindroh LLP, an independently owned and licensed CPA firm.
