Doeren Mayhew & Co., a High 100 Agency primarily based in Troy, Michigan, has added Grand Rapids-based Beene Garter LLP, efficient Jan. 1, 2022.
The mixture will strengthen Doeren Mayhew’s audit and tax companies, and construct its consumer base within the manufacturing, wholesale and distribution, building and nonprofit sectors.
Beene Garter dates again to 1949 and is certainly one of West Michigan’s largest accounting companies. The deal will allow Doeren Mayhew to develop its presence to the West Michigan market.
All of Beene Garter’s 16 companions and 105 staff will change into Doeren Mayhew staff. The workplace will function underneath the identify “Beene Garter, A Doeren Mayhew Agency” for a transitional interval till it takes on the Doeren Mayhew identify solely.
Courtesy of Doeren Mayhew
Monetary phrases of the deal weren’t disclosed. Doeren Mayhew ranked No. 59 on Accounting Immediately’s 2021 listing of the High 100 Corporations. The agency earned $95 million in annual income final yr. Beene Garter earned roughly $18 million in income.
Doeren has 425 staff and 69 shareholders in 9 workplaces throughout Michigan, Texas, Florida, North Carolina and Europe.
“Doeren Mayhew is making strategic decisions to develop in the precise markets, with the precise companions to gasoline our formidable five-year progress plan,” mentioned managing shareholder and chairman Chad Anschuetz in a press release Thursday. “This acquisition does simply that. Beene Garter is an ideal match for us. The agency brings deep trade expertise and technical experience complementary to ours, together with a wealthy historical past and robust roots within the West Michigan market.”
Doeren Mayhew plans to leverage Beene Garter’s meals and agribusiness know-how, and state and native tax experience, plus its Sage Intacct, third-party retirement plan administration and payroll practices. Beene Garter purchasers may have entry to further companies from Doeren Mayhew in areas similar to funding banking, actual property advisory, cybersecurity, SOC reporting and worldwide advisory companies.
Each companies are affiliate members of the Moore World Restricted Community and have labored collectively beforehand. “We have now recognized and revered Doeren Mayhew for a few years. They’re the Beene Garter of East Michigan,” mentioned Beene Garter managing associate Thomas Rosenbach in a press release. “Choices like this are by no means simple, however the frequent belief and respect between our companies, and our comparable values and objectives, makes the trail a lot clearer.”
In November, Doeren Mayhew acquired Darlene Plumly CPAs to construct its presence in Houston, Texas. In 2019, Doeren Mayhew expanded in Houston by buying Thrasher & Associates and Evans & Chastain.