Cherry Bekaert buys CPA Spicer Jeffries

Cherry Bekaert, a US assurance, tax, and advisory agency, has acquired Spicer Jeffries, a CPA agency targeted on the securities business.

This acquisition is ready to broaden Cherry Bekaert’s service choices, significantly within the asset administration sector, and prolong its geographic attain.

For greater than 30 years, Spicer Jeffries has been establishing partnerships inside the international securities business, the corporate said.

The agency’s shopper base consists of hedge funds, non-public fairness corporations, enterprise capital entities, and different funding establishments.

The deal is alleged to boost Cherry Bekaert’s fund regulatory compliance and investor transparency practices.

It additionally brings the agency to the Rocky Mountain area, together with Denver, thought-about a “rising” market in sectors aligning with its focus reminiscent of monetary companies, well being care, life sciences, aerospace, expertise, and power.

Furthermore, the deal permits Cherry Bekaert to conduct audits for funds registered with the Cayman Island Financial Authority, through Spicer Jeffries’ affiliated agency within the Cayman Islands. This workplace will allow the agency to ship specialised companies to purchasers with worldwide operations.

The mixing of Cherry Bekaert’s capabilities with Spicer Jeffries’ business credentials is anticipated to ship tailor-made options to purchasers throughout the asset administration spectrum, Cherry Bekaert said.

The acquisition consists of each non-attest and attest belongings, in keeping with various observe constructions.

Cherry Bekaert Advisory associate and Monetary Companies Trade chief Scott Moss added: “Buying Spicer Jeffries aligns completely with our imaginative and prescient to increase our asset administration capabilities. We’re dedicated to offering complete companies to our fund purchasers, starting from rising managers to extra mature funds.”

“Our mixed staff now consists of greater than 500 professionals who serve over 3,600 funds and greater than 3,500 portfolio corporations. This merger not solely expands our geographic attain but additionally strengthens our depth of expertise, making certain that our purchasers won’t ever outgrow our capabilities.”

Spicer Jeffries founder and managing associate Robert Yurglich stated: “Becoming a member of Cherry Bekaert is a big step ahead for us. We’re thrilled to deliver our specialised business information to a agency that values development and investor confidence. This partnership presents thrilling development alternatives for our individuals and enhances the worth and companies we offer to our purchasers.”

In October 2024, Cherry Bekaert acquired ArcherPoint, a Microsoft Licensed Options Companion, for an undisclosed quantity.

“Cherry Bekaert buys CPA Spicer Jeffries” was initially created and revealed by Worldwide Accounting Bulletin, a GlobalData owned model.

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