Top 100 accounting firm Smith + Howard has acquired Fahrenheit Advisors, a Richmond, VA-based consulting firm, effective Nov. 26.
Financial terms of the deal weren’t disclosed. Fahrenheit will continue to operate under its existing brand as part of the Smith + Howard family of companies, which includes Smith + Howard Wealth Management LLC, a Securities and Exchange Commission-registered investment adviser, S+H Search LLC and S+H Consulting LLC, which provide search and management consulting services, and Synexus Tax Solutions, a provider of sales and use tax and property tax services.
Fahrenheit brings new offerings to Smith + Howard, including human capital management consulting services. The acquisition also broadens Smith + Howard’s business advisory services and bolsters the firm’s executive search capability, the firm said in a media release. Fahrenheit’s Richmond location marks Atlanta-based Smith + Howard’s first Mid-Atlantic office.
Founded in 2010 by industry veterans Keith Middleton and Rich Reinecke, Fahrenheit has grown to more than 140 professionals. The firm works with businesses across the U.S., helping clients achieve growth through its expertise in business strategy, finance and accounting, human capital management, sales advisory, and executive search services.
“Keith and Rich, along with their team, have built an outstanding business, and I am excited to partner with them on this next chapter,” Smith + Howard CEO Sean Taylor said in a statement. “Fahrenheit’s operational excellence, respected market position, and dedication to client success make them an ideal fit for us. This addition to the Smith + Howard family of companies is another key step to expanding our service offerings, our national footprint, and creating new opportunities for our clients and colleagues.”
Smith + Howard was an attractive deal partner because of its national reach and its exceptional reputation for doing more than expected, said Middleton, Fahrenheit co-managing partner and co-founder.
“Like Fahrenheit, they are trusted advisors, driven by creating extraordinary value for clients, providing a great place to work for their employees, and giving back to the community,” he said. “It is an exciting time for Fahrenheit as we reach this next phase of our journey.”
“When Keith and I evaluated what we were seeking in a growth partner for Fahrenheit, culture was not simply a requirement—we knew it was imperative to our future success,” added Reinecke, Fahrenheit co-managing partner and co-founder. “Finding a partner who matched and lived the values that guide our firm was at the very top of the list. We are excited that the Smith + Howard team matches our commitment to delivering results for our collective team, clients, and communities.”
The Fahrenheit acquisition is Smith + Howard’s fourth M&A deal in the past 15 months. The firm acquired Richardson, TX-based VIP Solutions Group and VIP Search Group on April 30 and Chattanooga, TN-based accounting firm Market Street Partners in August 2023.
Smith + Howard secured a private equity investment from Broad Sky Partners in November 2022 to accelerate the firm’s long-term growth initiatives.
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