Cherry Bekaert Expands Its Boston Operations Through Acquisition of Katz Nannis + Solomon
Cherry Bekaert Enhances Boston Presence with Strategic Acquisition
In a significant move to strengthen its foothold in the Boston market, Cherry Bekaert has announced the acquisition of Katz Nannis + Solomon, a leading full-service CPA firm. Established in 1998, Katz Nannis + Solomon has firmly established itself as one of the top 25 CPA firms in Massachusetts, known for its expertise in accounting, tax, and advisory services.
This strategic acquisition is integral to Cherry Bekaert's plans for expanding its strategy and innovation advisory services, particularly in New England. The merger promises to enhance the firm's offerings in audit and tax services, directly benefiting clients in the Boston area and aligning with Cherry Bekaert's commitment to growth in the Northeast U.S.
The collaboration between these two firms not only represents a growth opportunity but also catalyzes improvements in operational efficiencies. The integration is expected to streamline services, enhancing the audit and tax capabilities available to the clients of both organizations. Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, noted that this acquisition provides a robust foundation for growth in the Northeast, emphasizing that Katz Nannis + Solomon's client service values resonate with Cherry Bekaert's own.
Jeffrey Solomon, Managing Partner at Katz Nannis + Solomon, expressed enthusiasm about the possibilities that this merger brings to both teams and their clients. He highlighted a shared vision centered on exceptional service and innovative solutions, recognizing that together, the firms can better support their clients amid an ever-evolving business landscape.
Benefits for Clients
The merger allows Cherry Bekaert to leverage Katz Nannis + Solomon's established clientele while enhancing its service delivery across various sectors, including Technology, Life Sciences, Financial Services, Venture Capital, and Consumer Goods. By combining forces, the two firms can deliver digitally driven, industry-aligned solutions that cater to the sophisticated needs of their clients.
This collaboration is structured around two separate acquisitions: Cherry Bekaert Advisory LLC acquired the nonattest assets, while Cherry Bekaert LLP took over the attest assets. This structured approach ensures a seamless integration, maintaining high service standards as clients transition to the unified Cherry Bekaert brand.
Both firms are committed to maintaining their reputation for excellence, assuring clients of a continuation of the high-quality service they have come to expect. As Cherry Bekaert progresses with this acquisition, it remains focused on facilitating a partnership that not only values legacy but also paves the way for future innovative strategies.
About Cherry Bekaert
Cherry Bekaert is one of the largest assurance, tax, and advisory firms in the United States, serving clients across diverse industries both domestically and internationally. The brand operates under two distinct entities, Cherry Bekaert LLP and Cherry Bekaert Advisory LLC, which offer professional services through an alternative practice structure that complies with relevant professional standards. While Cherry Bekaert Advisory LLC is not a licensed CPA firm, Cherry Bekaert LLP provides the attest services necessary for business operations. Together, they deliver an array of services spanning transaction advisory, risk management, digital solutions, cybersecurity, and tax services. The firm remains dedicated to deepening its understanding of client industries and fostering collaboration to achieve shared success.
This acquisition illustrates Cherry Bekaert's ambition to not only grow its presence in Boston but also to enhance the quality of service provided to its clientele, setting the stage for a successful partnership moving forward.