And eight ways to tell that one was successful.
By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide
As a generation of aging Baby Boomer partners continues its relentless march toward retirement, thousands of firms are seeking the only exit strategy available to them: merge into another firm.
MORE: 12 Shifts to Ensure Firm Success | EisnerAmper CEO Explains the Firm’s Private Equity Deal | Why It’s Time for an Acquisition | Are You Overthinking an M&A Deal? | The 9 Biggest Merger Pitfalls | Will New Taxes Push You to Cash Out? | The Managing Partner’s Role in Mergers | Inside a Partner Comp Committee | Making Partner: The Essential Metrics | Want to Be a Partner? Meet These 17 Expectations | Five Reasons Not to Make Someone a Partner | Do You Really Need Another Partner? | Six Big Mistakes in Succession Planning | New Non-Compete Laws Don’t Affect CPA Firms | Evaluating the Managing Partner | What a Firm Needs from Its Leaders |
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Thus has a voracious appetite for mergers been created at all size levels, particularly:
- Sellers who are very small firms – sole practitioners (remember, 30,000 of the U.S.’s 44,000 CPA firms are solos, and a huge percentage of those are at an advanced age) and multipartner firms under $3 million
- Buyers with annual revenues of $3 million and larger
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