Top 100 accounting firm GBQ Partners has expanded its services for credit unions and financial institutions by acquiring Lillie & Co., a CPA firm that provides audit and consulting services to credit union clients in Ohio, and its affiliate Lillie Resource Group, a firm that provides compliance audits and consulting services to financial institutions, effective Dec. 2.
Financial terms of the deal weren’t disclosed.
The acquisition complements GBQ’s existing credit union and financial services practice, the Columbus, OH-based accounting firm says in a media release. By integrating the teams into GBQ, the firm adds significant expertise in fraud and bond claim recovery while also expanding educational resources for clients.
“We are thrilled to welcome the Lillie & Co. and Lillie Resource Group teams and clients to our GBQ family,” Scott Runyan, director of financial services at GBQ, said in a statement. “Our shared commitment to the industry is reflected in our combined growth in size, scope, and client relationships. Together, we are better positioned to provide comprehensive, best-in-class solutions to empower growth of our clients’ businesses.”
This deal marks GBQ’s second in the industry, following its 2011 acquisition of Condit & Associates LLC, a firm specializing in serving credit unions.
Lillie & Co. was founded in 2003 by Steve Lillie. He and his team of 14 professionals have built a strong reputation through the years for delivering assurance and compliance services tailored to the needs of credit unions. In 2022, Lillie & Co. transitioned its compliance services to form Lillie Resource Group.
“Joining forces with GBQ is a natural next step for our team and clients,” said Steve Lillie, who is now a director of financial services at GBQ. “We share the same values and a passion for supporting the credit union industry. This partnership allows us to deliver the same exceptional service while giving our clients access to GBQ’s extensive range of solutions designed to meet their evolving needs.”
Keri Lillie, a partner of Lillie Resource Group who is now a director of regulatory compliance and consulting services at GBQ, added, “We look forward to combining our expertise and creating a best-in-class compliance and consulting team with extensive experience in the financial sector. Together, grounded in mutual principles with a shared approach to client service, we’ll deliver tailored solutions to support financial institutions in confidently navigating complex compliance requirements.”
Founded in 1953, GBQ is a tax, accounting, and consulting firm with offices in Columbus, Cincinatti, Toledo, OH, and Indianapolis.
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