Particulars: Anders CPAs + Advisors, a High 100 Agency primarily based in St. Louis, has acquired Summit CPA Group, a digital CFO agency primarily based in Fort Wayne, Indiana.
As a part of the deal, Summit co-founders Jody Grunden and Adam Hale together with all 60 of their employees members will be part of Anders, bringing the agency’s complete companions and employees to 335 with revenues of roughly $60 million. Anders has 32 companions and 275 employees.The merger is predicted to shut early within the second quarter of 2022.
Monetary phrases of the deal weren’t disclosed. Anders ranked No. 94 on Accounting Right this moment’s 2022 listing of the High 100 Corporations, with $51.5 million in annual income in 2021, whereas Summit had $8.5 million in annual income.
Summit was based in 2002 and has been doing distant work within the accounting career since 2013. By providing digital CFO providers together with money circulate administration, enterprise tax planning and monetary forecasting, Summit has been roughly doubling in measurement each three years since 2010 and has been acknowledged by Inc. 5000. Anders has additionally grown rapidly by including advisory providers, new business traces, organically and thru mergers.
“Including this distinctive resolution to the portfolio of Anders providers, together with our present outsourced CFO choices, is essential to our imaginative and prescient for development, and we discovered an excellent match with Summit,” mentioned Anders managing companion Robert Minkler, Jr., in a press release Tuesday. “Given the present workforce surroundings, extra shoppers are looking for deeper strategic perception and the next stage of worth from their advisor. Summit’s confirmed monitor report of delivering high-value CFO providers that lead to long-term development might be a powerful addition to our agency.”
Summit gives strategic advisory providers to assist CFOs make enterprise selections primarily based on higher monetary knowledge. The agency additionally gives 401(ok) audits and just lately launched a CPA Agency Augmentation program to supply different CPA companies with a marketing strategy on the way to carry out digital CFO providers.
“We’re excited to hitch Anders and turn out to be part of this forward-thinking and increasing agency,” mentioned Grunden in a press release. “Summit has a powerful dedication to using expertise to its fullest when serving our shoppers and Anders shares that imaginative and prescient. Anders and Summit collectively will be capable of mix sources and supply a worthwhile resolution.” He at the moment chairs the Digital CPA advisory board and is a board member of the Indiana CPA Society.
Progress Path Companions LLC CEO Anthony Zecca suggested Anders on the transaction. He was instrumental in connecting Anders and Summit, and he’ll proceed to function an advisor because the merger solidifies. Zecca is a retired companion of CohnReznick and was managing companion of the agency’s Advisory Group.