HBK Expands with Strategic Acquisition of Acuity HR
Deal News | Jan 07, 2025 | EIN
Hill, Barth & King (HBK), a leading accounting firm, has acquired Acuity Human Resources to expand its service offerings in HR consulting. This acquisition aligns with HBK's strategic goals and enhances its ability to serve its clients. Founded in 2005, Acuity brings expertise in strategic business and HR functions. HBK's CEO highlighted the cultural and professional fit of Acuity, citing the latter's role in enhancing HBK's service capabilities. This acquisition follows HBK's recent mergers, further demonstrating its expansion strategy. In parallel, SD Mayer & Associates, based in San Francisco, merged with Bogdan & Frasco, a boutique firm. This merger brings together expertise in tax planning and client service to benefit their collective clientele. The transitions underscore a growing trend of strategic expansions in the accounting sector.
Sectors
- Accounting & Financial Advisory
- Human Resources & Consulting
Geography
- United States – Both HBK and SD Mayer are based in the United States, with HBK in Ohio and SD Mayer in California, and their expansion activities are focused within the US.
Industry
- Accounting & Financial Advisory – The primary industry in which both HBK and SD Mayer operate, providing a range of accounting, tax, and financial consulting services.
- Human Resources & Consulting – Relevant due to HBK's acquisition of Acuity Human Resources, emphasizing HR consulting and strategic business advisory services.
Financials
- 144 million – HBK's annual revenue as of 2024.
- 20 million – Projected revenue for SD Mayer by 2025.
- 2.75 million – Revenue contribution from Bogdan & Frasco to SD Mayer.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hill, Barth & King (HBK) | Acquirer | Company | A Top 50 accounting firm based in Canfield, Ohio. |
| Acuity Human Resources | Target Company | Company | An HR consulting services provider acquired by HBK. |
| Thomas Angelo | CEO and Managing Principal, HBK | Person | CEO of HBK, emphasized the complementarity of Acuity to HBK's services. |
| Robert Floreak | President, Acuity | Person | President of Acuity who highlighted the strategic role of HR in business. |
| Jeremy Hartzell | COO, HBK | Person | COO of HBK, spearheaded the merger with Acuity. |
| SD Mayer & Associates LLP | Acquirer | Company | A San Francisco-based accounting firm merging with Bogdan & Frasco. |
| Bogdan & Frasco, LLP | Target Company | Company | A boutique accounting firm merged into SD Mayer. |
| Greg Bogdan | Co-founder of Bogdan & Frasco | Person | Founder of Bogdan & Frasco who joins SD Mayer as a Partner. |
| Craig Lewis | Partner, Bogdan & Frasco | Person | Long-time partner at Bogdan & Frasco joining SD Mayer. |
| Stephen D. Mayer | Managing Partner, SD Mayer | Person | Founder of SD Mayer & Associates, driving the firm's strategic expansion. |