Professional services firm Sikich has agreed to acquire Alexandria, Virginia-based public accounting firm Halt, Buzas & Powell Ltd. The deal marks Sikich's entry into the Washington, D.C. and Baltimore metro markets and expands its presence on the East Coast.
"Adding the talented HBP team will strengthen our accounting, tax and audit services and advance our growth across the country," Sikich CEO Chris Geier said in a statement. "HBP's expertise in not-for-profit accounting and their outsourced CFO services complement our team's strengths. With a presence in the Washington, D.C., area, we'll be well-positioned to provide valuable business services to more organizations on the East Coast."
HBP offers audit and assurance, business consulting, outsourced accounting, tax, and information technology services to business across industries. The firm specializes in working with not-for-profit organizations and government contractors. It has specialized experience offering outsourced CFO services to public charities and trade associations.
HBP Managing Partner Andy Powell added: "The synergies between our firm and the Sikich team will allow us to bring new opportunities to our clients and employees," said Powell. "Much like our firm, Sikich places great emphasis on trust, integrity and commitment to client success. We look forward to living out those values as part of the Sikich team."
Approximately 50 HBP employees will join Sikich and continue to work from their offices in Alexandria and Crofton, Maryland. Powell and Marco Fernandes will join Sikich as partners. The transaction is scheduled to close on Dec. 31.
This deal comes on the heels of Sikich's acquisitions of Brookfield, Wisconsin-based accounting firm Freyberg, Hinkle, Ashland, Powers & Stowell; Oak Brook-based accounting firm Scanlan & Leo and technology consulting firm NexGen Consultants.
