#United States #Reading #Cherry Bekaert #Herbein + Company #CPA Advisory

Cherry Bekaert to Acquire Herbein + Company, Inc.

Cherry Bekaert, a prominent CPA and advisory firm, has revealed its plans to acquire Herbein + Company, Inc., a well-regarded CPA firm based in Reading, Pennsylvania. This strategic acquisition is scheduled to conclude later this month and represents a significant expansion for Cherry Bekaert into the Pennsylvania region. Herbein ranks among the top 100 firms in INSIDE Public Accounting’s list and is recognized for its multifaceted services in tax, audits, consulting, HR, and risk management across various industries, including agribusiness, construction, financial institutions, manufacturing, higher education, and government services.

The firm’s expansion into Pennsylvania not only broadens Cherry Bekaert's geographical reach, but also enhances its ability to deliver tailored services to clients in the Mid-Atlantic region and beyond. Herbein operates additional offices in Delaware and New Jersey, further connecting Cherry Bekaert to clients across the northeastern and midwestern United States. The client portfolios of both firms are notably complementary, consisting of family-owned businesses, private equity, and privately held enterprises.

Michelle Thompson, the CEO of Cherry Bekaert Advisory LLC, expressed enthusiasm about the acquisition, emphasizing that this move aligns with Cherry Bekaert’s strategic objectives and values. In her statement, she mentioned, “This acquisition not only expands our geographical reach into Pennsylvania but also enhances our service offerings across key industries. Herbein's client-centric approach aligns well with our Firm's values and strategic objectives. Together, we look forward to driving greater value for our clients and further strengthening our regional presence.”

David Stonesifer, the CEO of Herbein + Company, echoed this sentiment, stating, “We are excited for this new chapter with Cherry Bekaert. Our clients will benefit from an expanded suite of offerings while still receiving the same level of service they have come to expect from Herbein.” The integration process is designed to be seamless, maintaining both firms' high service standards.

The acquisition involves two components: Cherry Bekaert Advisory LLC will acquire Herbein's non-attest assets, while Cherry Bekaert LLP will take on Herbein’s attest assets. This strategic structuring facilitates an efficient merging of resources while preserving the exceptional service that clients have come to expect from both firms. The unified operation will transition to the Cherry Bekaert brand, consolidating its market position as a leading CPA firm.

Cherry Bekaert is already recognized as one of the largest assurance, tax, and advisory firms in the United States, serving a diverse array of industries both domestically and internationally. As an entity, Cherry Bekaert operates under a structure that comprises two independent but affiliated firms: Cherry Bekaert LLP, which offers attest services, and Cherry Bekaert Advisory LLC, providing business advisory and non-attest services across various specialties. This acquisition is part of Cherry Bekaert's ongoing commitment to deliver exceptional client-focused solutions and leverage its industry expertise for mutual growth.

By acquiring Herbein, Cherry Bekaert not only fortifies its service offerings but also embraces a broader market reach, showcasing the firm’s dedication to fostering valuable relationships with clients across multiple sectors. As the merger unfolds, clients of both firms can anticipate the enhanced capabilities that this union promises.

In conclusion, this acquisition marks a pivotal moment for Cherry Bekaert, propelling its presence in Pennsylvania and reinforcing its capabilities to cater to clients in the evolving landscape of business services. Clients and stakeholders alike will be watching this development with interest as it unfolds, paving the way for a new chapter in the firm’s history. For further details on Cherry Bekaert’s professional services, visit cbh.com.