Mergers and Acquisitions

Intuit has entered into an agreement to acquire Lettuce, a start-up focused on helping product-based small businesses succeed by providing easy to use cloud-based solutions, including a robust inventory and order management system.

The Florida-based, regional accounting firm Carr, Riggs and Ingram LLC (CRI) has acquired Tampa-based Auditwerx, a CPA firm specializing in performing auditor assurance engagements to meet regulatory or customer compliance needs for service companies. The branch will remain in Tampa.

Every product line (or service, or industry) begins at introduction, when a handful of early adopters begin to use it. This stage requires a lot of investment with little profitability. If the product survives this stage – and most do not – sales and profits begin to pick up as the product grows in popularity and use. The product becomes self-sustaining as it enters maturity.

Accounting and business process outsourcing firm CBIZ has announced that it acquired the non-attest business of Tampa, Florida-based Lewis, Birch & Ricardo, L.L.C., effective February 1, 2014. The firm's attest business is being acquired by Mayer Hoffman McCann P.C. CBIZ Inc. and Mayer Hoffman McCann P.C. said they will operate using an alternative practice structure.

Porte Brown LLC, www.PorteBrown.com, a Chicagoland accounting firm, is pleased to announce the acquisition of LHW & Associates based in Crystal Lake, Illinois. LHW offers specialized services for clients in industries such as mortgage banking, construction, manufacturing, real estate, medical, professional services and various consumer markets.

Business management firm Kaufman + Bernstein, Inc. has merged with RBZ, LLP, one of the largest Los Angeles-based accounting and business management firms, adding 19 new members to RBZ’s business management practice.

The leaders of Ashland, Kentucky's two largest CPA firms have announced they will join forces this summer.

The merger wave among CPA firms is expected to continue its strong pace in 2014, particularly among small to midsized regional firms, according to the authors of a new American Institute of CPAs-published book on acquisition strategies.