A 6-point blueprint.
By Domenick J. Esposito
Over the last several years, there have been over 200 merger, acquisition, alliance and joint venture announcements by the Top 100 and other fast-growing CPA firms. Every indication is that these combinations will continue at a very rapid rate as CPA firms are:
- Facing an aging partner group that usually includes the most effective relationship and business development partners. Baby boomers have been a home run for CPA firms.
- Finding organic growth very difficult to attain with little prospect that business is going to dramatically improve in the foreseeable future.
- Realizing an inability to attract an adequate supply of high-quality talent to help perpetuate the firm.
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CPA firm CEOs and other senior management are very effective at financial and operational due diligence, tracking results and holding partners accountable for hitting timely targets. On its face, an observer would tend to conclude that these 200+ combinations are very accretive to partner profitability after an integration period of 18 to 24 months.
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