Accounting
Cherry Bekaert acquires accounting tech provider Kerr Consulting
Top 25 firm
Cherry Bekaert is, itself no stranger to Sage, as the firm is a North American Sage Platinum Club Winner for the fiscal years 2022 and 2023 and is regarded as a top Sage Intacct Value-Added Reseller Partner. Considering this synergy, CEO Michelle Thompson, in an interview with Accounting Today, said the acquisition (which has been in the works for about a year) made strategic sense.
“We’re focused on what are the value-added solutions that a [small to middle market] CFO needs over the lifetime of their enterprise as it grows. … A focus on the Sage ecosystem and its popularity with that type of client–which we see through our outsourcing business–we have a very large outsourcing business [on] the Sage Platform–we saw this as a great complement to provide high end solutions to that underserved market,” she said.
The acquisition also fits in with larger changes to the business environment, particularly the increasing importance of technology. As clients modernize their operations, according to Thompson, the firm must keep pace in turn in order to continue to provide value through offering the solutions they need.
“Our partners are a critical part of everything we do at Sage. The combination of Cherry Bekaert and Kerr Consulting creates a powerful force in the Sage ecosystem, ensuring our joint customers can benefit from the most innovative technologies and transformative solutions for small to medium-sized businesses. We are excited to see the expanded reach and enhanced capabilities this union will bring to the market, ultimately benefiting businesses across the country,” Hickman said.
While the firm does have considerable in-house expertise with the Sage ecosystem, the acquisition will significantly scale up its capacities, not least of which will be because Cherry Bekaert plans to retain all 100 staff members in Kerr Consulting, according to Thompson. She said the firm intends to be one of the top Sage providers, and the acquisition “helps us get there faster.”
She was especially excited for what the acquisition will mean for clients. Thompson said what the firm just bought is an ERP accounting software system implementer. When this expertise is paired with the resources an accounting firm can offer, it offers a much greater value proposition than either by themselves, one that does not stop with ERP implementation.
“We don’t wanna be just one thing for a client, we want to be there with them on this journey,” she said.
Kerr Consulting will eventually be folded into Cherry Bekaert’s branding, though during the transition period they will continue to operate largely as they did before in order to minimize disruption.
Kerr Consulting is a portfolio company of middle market private equity company,
The Tennessee General Assembly passed legislation backed by the Tennessee Society of CPAs adding an extra pathway to a CPA license, as more states make efforts to alleviate the shortage of new accountants.
SB 1316/HB 1330, introduced by Senate Majority Leader Jack Johnson and House Majority Leader William Lamberth on behalf of the administration, was filed for introduction on Feb. 6. The legislation aligns with Tennessee Governor Bill Lee’s goal to streamline state boards and simplify licensing. Members of the Tennessee Society of CPAs
The legislation offers two pathways to licensure for prospective CPAs starting Jan. 1, 2026. Applicants can either:
- Ccomplete the traditional path of at least 150 semester hours of college education including a bachelor’s degree plus one year of accounting experience; or,
- Complete at least 120 semester hours of college education including a bachelor’s degree plus two years of accounting experience.
For both options, the coursework needs to include an accounting concentration as determined by Tennessee State Board of Accountancy rule.
In addition, the legislation includes CPA practice mobility provisions so CPAs can still practice across state lines. Current and future CPAs who don’t have a principal place of business in Tennessee will be able to practice in the state if they hold a valid CPA license in good standing from another state and if, at the time of licensure, they showed evidence of having passed the Uniform CPA Exam. They need to consent to the jurisdiction and disciplinary authority of the TSBOA, comply with the applicable statute and board rules of the state, and cease offering services in Tennessee if their license in the state of issuance is deemed to be no longer valid. These changes will take effect July 1, 2025.
(Read more: See
“This legislation is a key step in ensuring that the demand for skilled accounting professionals, specifically licensed CPAs, can be met now and in the future,” said TSCPA president and CEO Kara Fitzgerald in a statement Monday. “Tennessee was a leader in advocating for the 150-hour rule in the 1990s, and as the needs of the profession change, Tennessee will continue to lead in evolving our licensure model to make sure we meet those needs.”
The bill will now be sent to Gov. Lee and, once he signs it, will become effective on the dates stated above.
Other states besides Tennessee have been
Baker Tilly and Moss Adams have made their merger official, combining to form what promises to be the sixth largest CPA firm in the U.S.
Rumors of the
Baker Tilly, based in Chicago, ranked No. 11 on Accounting Today‘s 2025 list of the
Baker Tilly CEO Jeff Ferro will be CEO of the combined firm through his retirement, while Eric Miles, who is currently Moss Adams’ chairman and CEO, has been named CEO-elect. Miles will assume the role of CEO on January 1, 2026, with Ferro remaining a director on Baker Tilly’s board thereafter.
“Moss Adams is a great strategic fit with Baker Tilly,” Ferro said in a statement Monday. “We’ve long respected the firm, its people and its industry-focused approach. By bringing together our strengths, we are expanding our ability to serve middle-market businesses with greater expertise, resources and insights.”
“The resources, geographic reach and go-to-market strength of the combined firm magnifies opportunities for our people to grow, collaborate and innovate,” Miles stated. “We are proud to offer our clients these expanded resources to deliver even greater value and set a new standard for advisory services in the middle market.”
As part of the deal, private equity firm Hellman & Friedman, an existing investor in Baker Tilly, will make an additional strategic investment in the business, with existing shareholder Valeas Capital Partners also increasing its investment.
The deal is expected to close in early June of this year. Once the deal closes, Moss Adams and Baker Tilly’s audit business will combine as Baker Tilly US, LLP and the firms’ business advisory, tax and other services will combine under Baker Tilly Advisory Group, LP. Both entities will remain partnerships, with all principals holding equity alongside H&F and Valeas in BTAG.
“Since we invested in Baker Tilly, we have been focused on building a differentiated firm with the ambition to change the game in the middle-market accounting industry,” said H&F partner Blake Kleinman in a statement. “This landmark merger between Baker Tilly and Moss Adams is an important step in creating a firm that will be the destination of choice for the industry’s best talent and for firms considering their strategic options in a rapidly evolving sector.”
Former AICPA president and CEO Barry Melancon
Simpson Thacher & Bartlett LLP and Vedder Price PC served as legal advisors to Baker Tilly. Deutsche Bank Securities Inc. served as financial advisor and Dechert LLP as legal advisor to Moss Adams.
Baker Tilly is part of the Baker Tilly International network, based in London, which reported $5.6 billion in worldwide revenue in 2024. Baker Tilly has done several acquisitions since receiving
Last May, it merged in
Moss Adams does not do M&A deals as often, but last December, it entered the Salesforce.com consulting market by acquiring
International accounting and consulting firm KNAV Advisory added U.K.-based firm Aventus Partners, effective April 4.
The deal strengthens KNAV’s operations in the U.K. and continues its international expansion strategy. Last year, it integrated Natarajan & Swaminathan in Singapore and HLG Netherlands.
“This is a major milestone for KNAV’s UK operations,” KNAV CEO Nishta Sharma said in a statement. “It reinforces our commitment to a unified, integrated model that delivers exceptional value to global clients.”
KNAV reported $21.5 million in revenue in 2024 and has three offices, 12 partners and 202 employees. It was one of the
Aventus, with $5.3 million in revenue, provides audit and assurance, tax advisory, financial reporting and outsourced finance team services. The deal adds four partners and 27 employees to KNAV.
Both firms are members of Allinial Global, a global association of independent accounting and consulting firms.
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