In the span of a few days, three separate acquisitions moved through the accounting press. CLA acquired regional firm Perkins and Co, expanding its footprint in the Pacific Northwest. CrossCountry Consulting picked up a Salesforce focused technology consulting shop in Virginia. And Fischer Cunnane and Associates grew its Philadelphia presence by acquiring Kalos Hutchings and Co, adding real estate services along the way.
Three deals in one week is not an anomaly anymore. It is the pace. Consolidation in this profession used to be an occasional headline. Now it is closer to a heartbeat. If you run a firm that is not currently buying anyone and has no plans to sell, it is tempting to read these stories, shrug, and move on. That would be a mistake.
Here is what actually happens when a competitor gets acquired near you. For the first six to twelve months, the acquired firm is distracted. Systems are merging, partners are adjusting to new reporting lines, and client-facing staff are often navigating new titles, new software, and sometimes new points of contact. Clients notice. Some of them notice a little friction and stay anyway out of loyalty or inertia. Others start quietly asking around. That window, while an acquired firm is heads down on integration, is genuinely one of the better times to win new clients if you are paying attention and positioned to move.
There is a talent angle too. Acquisitions create uncertainty for staff who liked working at a smaller, independently run firm and did not sign up to become a line item at a national platform. Some of your best hires over the next year may come from firms that just got bought, not because those firms are struggling, but because a subset of their people wanted something different than what a bigger organization offers.
None of this means every small or midsize firm needs to panic or rush to sell. It means you owe yourself an honest conversation about where you sit. Are you positioned to grow organically by picking up clients and talent during a competitor's integration period? Are you a firm private equity-backed platforms would find attractive, and if so, is that a path you actually want? Or are you comfortable staying independent, knowing the market around you keeps consolidating?
There is no wrong answer here. There is only the risk of not deciding on purpose. The firms that get squeezed in a consolidation wave are rarely the ones that chose independence. They are the ones that never chose anything at all.
Dr. Christine Gervais is a licensed CPA, using her skills to help businesses grow and achieve their fullest potential. Christine has a Master’s degree in accounting from Southern New Hampshire University in addition to holding her CPA license for over a decade. Notably, Christine is a nationally recognized speaker providing education to other CPAs on how to best serve clients as well as instruction on a wide variety of topics for business owners on how to maximize success. Christine prides herself on the value she can bring to clients with her extensive tax knowledge and provides strategic, forward-thinking financial strategies to help clients grow. When not behind her desk, you can find Christine spending quality time with her daughter and stepson or tending to the family’s excessively loved farm animals.
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