Smith + Howard Strengthens its Expertise
Smith + Howard, a leading national firm specializing in tax, accounting, and advisory services, has taken a significant step forward by acquiring Smith Kesler & Co. (SKC). This strategic move not only enhances the firm's operations but also broadens its reach into new markets.
Understanding Smith Kesler & Co.
Founded in 1974, Smith Kesler & Co. has developed a solid reputation for delivering specialized audit and tax services tailored primarily to the construction sector. With four offices in the Carolinas, SKC boasts a team of over 30 professionals who are committed to providing exceptional client service and possess extensive industry knowledge.
Impact of the Acquisition
This acquisition marks an important milestone for Smith + Howard as it represents their fifth acquisition in a short span. By integrating SKC into their operations, they now expand their client base in the construction industry further into the Carolinas. Steve Hinds, the Managing Stockholder of SKC, will transition to a Partnership role, facilitating a smooth integration as SKC employees officially join the firm.
Smith + Howard's Strategic Vision
CEO Sean Taylor expressed enthusiasm about welcoming SKC, highlighting their outstanding reputation and skilled client portfolio that will provide Smith + Howard with a competitive edge in the construction market. This move is integral to the firm’s long-term growth strategy, as expanding into the Carolinas aligns with their vision for broader service delivery.
Expert Insights on the Acquisition
Industry expert Allan Koltin, who consulted on the deal, emphasized the prestige associated with Smith Kesler, recognizing it as a premier construction accounting firm. The interest from other firms underscores the strong talent at SKC. However, their decision to partner with Smith + Howard illustrates the firm’s robust culture and collaborative spirit.
Future Directions for Both Firms
As Steve Hinds reflects on this strategic partnership, he emphasizes the need for resources to support construction businesses beyond the Carolinas. Partnering with a larger firm like Smith + Howard offers enhanced capabilities and an alignment in values and operational culture, ensuring a bright future for both entities.
The Role of Broad Sky Partners
The acquisition is part of Smith + Howard’s ambitious expansion plan, which has been significantly boosted by their partnership with Broad Sky Partners. This partnership, which began in November 2022, has provided the necessary support for the firm to amplify its growth trajectory, ensuring that they can continue delivering high-quality services across various industries.
About Smith + Howard
Smith + Howard has a distinguished history as an accounting and advisory firm serving a variety of sectors including construction, real estate, and technology. They provide a robust array of services encompassing audit, tax, and consulting tailored to meet the diverse needs of their clients. Their comprehensive offerings ensure that they play an integral role in the business landscape.
About SKC
Smith Kesler & Co specializes in supporting construction businesses, offering an extensive range of services including tax, accounting, audit, and consulting. Their expertise in the industry has positioned them as a valuable partner for construction-centric firms in the Carolinas.
Media Contact
Marty Dauer
Chief Growth Officer, Smith + Howard
Smith + Howard operates under a dual structure ensuring that audit services are delivered through a licensed accounting firm while advisory services are handled separately. This innovative approach allows them to maintain quality and compliance across their operations.
Frequently Asked Questions
What is the purpose of Smith + Howard's acquisition of SKC?
The acquisition aims to expand Smith + Howard's expertise in construction accounting and broaden their service offerings into the Carolinas.
What services does SKC provide?
SKC offers a variety of services including tax, accounting, audit, consulting, and payroll specifically for construction businesses.
Who will manage the operations post-acquisition?
Steve Hinds will transition into a Partner role overseeing regional operations as part of the integration into Smith + Howard.
How many acquisitions has Smith + Howard made recently?
This marks the fifth acquisition for Smith + Howard in the last 16 months, reflecting their aggressive growth strategy.
What industries does Smith + Howard cover?
Smith + Howard serves various industries, including construction, real estate, distribution, and technology, providing them a broad market presence.
