Top 35 accounting and advisory firm Weaver has acquired Pasadena, CA-based firm HKG in a deal that went into effect on June 1. As part of the transaction, 65 HKG professionals, including seven partners, joined Weaver. Terms of the deal weren’t disclosed.
The acquisition boosts Houston-based Weaver’s presence on the West Coast to six offices and 150 team members, including 18 partners.
Founded in 1995, HKG provides audit, tax, and accounting services to clients across a variety of industries, including private equity, health care/life sciences, manufacturing and distribution, real estate, media, professional services, early stage and emerging growth companies, and not-for-profit. HKG finished its most recent fiscal year with more than $11.3 million in revenue, making it a top 350 firm in the U.S.
“HKG is the right strategic and cultural fit for Weaver,” Weaver CEO and Managing Partner John Mackel said in a press release. “We share an unwavering commitment to client success, acting with integrity and always striving to transcend expectations. With a strong commercial practice in Pasadena, HKG has a diverse client base, strong relationships, and a talented team. Clients of both firms will benefit from the additional services and knowledge base across our teams and regions.”
Eric (Tony) A. Gronroos, HKG’s managing partner, added: “The partners at HKG look forward to the opportunities this transaction provides for each of our team members to grow and develop their careers as part of Weaver. We also believe the expanded services Weaver offers, especially from a transaction advisory services perspective, will add value to our existing client relationships.”
Gronroos will serve as Weaver’s partner-in-charge of Los Angeles Tax Services, and he will also serve as a Los Angeles executive partner, responsible for the Pasadena office. The HKG team will remain in their existing Pasadena office.
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