Rosenberg Associates Blog
Marc Rosenberg, CPAFor about ten years now, there has been a merger frenzy in the CPA profession, fueled by three interrelated factors: (a) baby boomers are rapidly approaching or reaching retiring age; (b) succession planning is not a strong suit of CPA firms so, they often find themselves with no bench to take over the firm and…
One of the joys of consulting to CPA firms for over 20 years is talking with clients, fellow consultants, media editors and speakers at conferences about what’s going on in the industry. Over the past three months, several clients and publications have asked me how I see 2023 shaping up. Here are my thoughts. Merger…
Active buyers of CPA firms tell me that they only merge with one in ten sellers they meet. These buyers have—and rarely deviate from—criteria they want a merger partner to fit. First, there are so many sellers in the market that buyers can be highly selective. Second, many buyers, especially those over $15–20M, will only…
Two key documents When a CPA firm acquires or merges in a smaller firm, it is common for the seller’s staff to be employed by the buyer. In this situation, there are two important documents (there may be others, but this blog addresses just two) to be executed between the buyer and the seller’s staff:…
Being an owner of a CPA firm is one of the coolest jobs anyone could want (assuming your dream job isn’t to be a Hollywood producer, astronaut or shortstop for the Cubs). You make great money, do work you enjoy and work with clients with whom you have a mutual relationship. You do this for…
Kristen Rampe, CPAIf you’re a CPA, you have had blinders on if you were unaware of the merger frenzy in the CPA industry for the past ten years or so. An avalanche of aging baby boomers coupled with a voracious appetite for growth by larger firms (and “larger” can be a firm as small as a few…
Many years ago, I was overjoyed that the MP of one of Chicago’s largest local firms (long since merged out of existence) called me in for a meeting. Today, I would have asked what the guy wanted to discuss before shlepping to his office. But 20 years ago, I was just happy he called me….
If you’re getting serious about a merger, you may decide you want some outside help in getting the deal done. Merger consultants can be invaluable in the process and can help you think through aspects of the merger that might not have otherwise crossed your mind. We recently worked with a firm that was looking…
I have always been a big believer in the buyer and seller exchanging financial and operating information as early in the merger process as possible. Numbers aren’t everything, but they do speak volumes. The data enables each firm to gain an understanding of the other in a manner that is not always possible in conversation….
Attractive firms in the top 50 U.S. cities are still able to find buyers offering a more than fair price. In those instances, the seller’s market is alive and well. However firms with less appeal could face some difficulty. With so many sellers flooding the market, buyers are able to cherry-pick the best firms and…
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