Rosenberg Associates Blog
Marc Rosenberg, CPAMerging up or selling your firm is one of the key career milestones a CPA will experience. You’ve toiled long and hard to build up your firm. It’s your life’s work. Adding to the anxiety is the element of facing your own mortality. When people contemplate significant personal or business decisions, it’s common to move…
Looking to merge in a smaller firm? If so, your reasons are likely along these lines: (a) Baby Boomers are retiring in droves, (b) The post – recession malaise continues to hold back growth and (c) You’ve done an ROI analysis (assuming you can remember how) on buying a small practice and found that it’s…
What can doom a merger? Lack of candor. When parties to the merger are not honest with each as to the assessment of their own firm – why they are doing the merger and what they expect from it – when they’re not truly willing to follow through on what they said during the negotiations…
Terry Putney is President of Transition Advisors, a company that consults CPA firms on mergers & acquisitions. This is the first of a two part series on the highlights of Putney’s presentation to two of my Chicago-area managing partner roundtable groups.
I recently interviewed the MP of a small firm that is in the process of merging with another firm of equal size. I asked him why he wants to merge with the other firm. Here was his response: “I’ve reached the point in my career where I want to do what I want to do,…
The baby boomer partners have had a great run, but it’s nearing its end. Retiring partners know they will have to merge upward to preserve their buyouts and provide continuity of service to their clients – and they dread the day. Many firms are merging, and even more are thinking about it. But they just can’t seem to pull the merger trigger. Why is this? Why aren’t we jumping for joy?
“Must-haves” are the terms that the seller of a CPA firm feels he/she must have in order to do the merger. The extent that the seller will insist on receiving his/her “must haves” is dictated by the way the overall negotiations proceed. Each side usually makes compromises…
The merger activity taking place is hot and heavy. Here are best practices observed from recent mergers we were involved in (see our May 25 blog post for Part 1): For upward, sideways and downward mergers: 1. Use the same high standards you use to make someone a partner at your own firm, for accepting…
The merger activity taking place is hot and heavy. Here are best practices observed from recent mergers we were involved in: For firms merging up: Go out on top, like the running back Barry Sanders of the Detroit Lions. Negotiate from a position of strength. Don’t wait until you have to merge. The MP needs…
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CPA Firm Landscape More Like Law Firms
National CPA firms have traditionally dwarfed the regional firms in size. But this is changing. Due to the frenetic pace of CPA firm mergers, the once humongous size gap is narrowing, resulting in a CPA firm landscape that is moving towards the way law firms are grouped.
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