Top 30 accounting firm Aprio and top five accounting firm RSM US have reached an agreement for Aprio to acquire RSM’s Professional Services+ practice operating in the U.S. and Canada.
Financial terms of the deal, which was announced on March 28, weren’t disclosed. The transaction is expected to close on April 30, pending satisfaction of customary conditions.
RSM’s PS+ practice serves almost 80 professional services firms across the U.S. and Canada. It provides resources and advisory services related to strategy and leadership, talent development, business processes and operations, and access to group buying solutions.
Effective May 1, the PS+ practice will operate as part of Aprio. Dean Sengstock, current leader of the PS+ practice, will continue to serve as the leader of the practice and will join Aprio as a partner along with four other partners and more than 30 team members.
“It is an honor to welcome the PS+ practice, clients, and team to Aprio. RSM has provided an exceptional platform for the past four decades for the PS+ practice and we are committed to establishing a strong foundation to grow the practice at Aprio,” Richard Kopelman, CEO of Atlanta-based Aprio, said in a statement. “With the addition of the PS+ practice, Aprio will include a robust community of complementary firms with unique opportunities for collaboration and growth as we invest in the future.”
“In joining Aprio, we have a unique opportunity to carry forward our vision and customized approach for serving clients the way they want to be served,” Sengstock added. “While we are joining a new firm, our team, the services we provide, and our commitment to exceptional client-centric service remains the same.”
Over the coming weeks, Aprio and RSM will work together to ensure a smooth transition and to serve clients’ best interests, the firms said.
“We believe this transaction enhances the PS+ team’s ability to continue supporting their clients while enabling RSM to focus on our core assurance, tax, and consulting service offerings for the middle market,” Brian Becker, managing partner and CEO of Chicago-based RSM US, said in a statement. “We are grateful to the PS+ team for their many contributions to RSM over the last 40 years.”
Aprio has made several acquisitions since last July when it announced that it was receiving private equity backing from Boston-based investment firm Charlesbank Capital Partners. Charlesbank’s investment in Aprio will help the accounting firm accelerate growth and further invest in talent, technology, and corporate infrastructure. The private equity funding also enables Aprio to continue its geographic expansion and growth within strategic service capabilities and markets, the firm said last summer.
In addition, Aprio is planning to combine with Scottsdale, AZ-based boutique business law firm Radix Law this spring to form the Arizona law firm Aprio Legal. Aprio is taking advantage of Arizona’s ABS Program, which allows entities owned or controlled by nonlawyers to provide legal services as an alternative business structure law firm.
KPMG became the first of the Big Four accounting firms to launch a law firm serving the U.S. market in late February through the Arizona ABS Program.
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