Smith + Howard Acquires Smith Kesler & Co. in the Carolinas

News Summary

Atlanta-based accounting firm Smith + Howard has announced its acquisition of Smith Kesler & Co. (SKC), a South Carolina firm specializing in construction accounting. The acquisition, set to take effect on January 31, 2025, will add four new offices and enhance Smith + Howard’s service capabilities across the Carolinas. With a strong team from SKC joining, the firm aims to broaden its client base and revenue, expecting to reach $125 million in 2025. This marks their fifth acquisition in 16 months as part of a strategic growth initiative.

Atlanta Firm Expands Reach with New Acquisition in the Carolinas

In a move that’s turning heads in the accounting world, **Smith + Howard**, a leading accounting firm based right here in Atlanta, has announced its acquisition of **Smith Kesler & Co. (SKC)**. This exciting development will take effect on January 31, 2025, and will significantly bolster Smith + Howard’s construction accounting services throughout the Carolinas.

Welcome Aboard, SKC!

Founded in 1974, SKC is not just your average accounting practice. This South Carolina gem, located in the bustling city of Spartanburg, has carved out a niche for itself with specialized audit and tax services tailored specifically for the construction industry. The acquisition will bring four new offices in North and South Carolina into Smith + Howard’s growing family, further expanding their geographical footprint.

Strengthening the Team

With a talented team of over 30 professionals dedicated to construction accounting, SKC’s expertise will be invaluable to Smith + Howard. It’s not every day a firm gets to welcome such a skilled crew, and there are plans for Steve Hinds, SKC’s managing stockholder, to transition into a partner role at Smith + Howard. He’ll be overseeing regional operations, ensuring that this merger smoothly aligns with the firm’s operational goals.

A Broader Vision for the Future

This acquisition is not just about adding more offices; it’s about enhancing the core accounting services offered by Smith + Howard. The firm is looking to *broaden* its client base and provide even **better service** within the construction sector. By joining forces with SKC, Smith + Howard aims to introduce a wider range of advisory services, helping clients navigate not just their accounting needs but also business strategies and growth plans.

A Match Made in Heaven

A crucial factor in the acquisition was the strong cultural fit between the two firms. Both Smith + Howard and SKC share core values that prioritize excellent client service and a commitment to the industries they serve. By aligning with a firm that echoes their own ethos, SKC feels they will achieve greater synergy and create more value for their clients.

Strategic Growth in Action

This acquisition is the **fifth** for Smith + Howard in just the past 16 months, a part of a broader strategy that took off after they received private equity investment from Broad Sky Partners in November 2022. Under this strategic growth plan, the firm has already welcomed other firms into its fold, including Market Street Partners in Chattanooga, TN, and Fahrenheit Advisors in Richmond, VA. Clearly, they are on a roll!

What Does This Mean for the Future?

The integration of SKC is expected to significantly bolster the size of Smith + Howard, pushing the firm to nearly 500 employees. With the additional talent and expertise from SKC, Smith + Howard anticipates boosting its revenue to an impressive **$125 million for 2025**, which will include contributions from the newly acquired offices in the Carolinas.

A Bright Future Ahead

As Smith + Howard continues its journey of growth and expansion, the accounting landscape in the Carolinas can expect new levels of service and expertise. With an eye towards the future and a firm commitment to its clients and community, the acquisition of SKC marks an important milestone for Smith + Howard’s ongoing success story. The excitement surrounding this merger is palpable, and we can’t wait to see how it unfolds!

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