Announced today, “a transformative merger” has taken place between five accounting firms that will turn WSRP, MKA (Moss, Krusick & Associates), Sobul Primes & Schenkel, The Doty Group, and Richey May into just Richey May. According to the news release, the official deal comes on the heels of “a year of successful collaboration among the firms.”
Private equity backing was not mentioned in the press release though this makes us think it’s either in the mix or they’re preemptively setting up for a future deal:
Richey May will operate in an alternative practice structure. Operating under the shared Richey May brand, Richey, May & Co., LLP, a licensed CPA firm, will perform attest services, while RM Advisory LLC, which is not a CPA firm, performs nonattest services.
Roll ’em up and sell ’em off maybe?
Pre-deal, Richey May came in at #102 on INSIDE Public Accounting’s Top 200 with reported revenue of $57,685,503. WSRP sits at #259 with $20,694,704 and we didn’t find the other three on the Top 500.
Expect to see lots more deals like these in the coming months and years.
