Firm Management
Cherry Bekaert Picks Up Outsourced Accounting Firm
The top 30 firm has gained 250 employees and three new offices with its acquisition of Cordia Partners and Cordia Resources.
Sep. 13, 2023
Top 30 accounting firm Cherry Bekaert said on Sept. 13 it has acquired Vienna, VA-based Cordia Partners and Cordia Resources. Terms of the deal were not disclosed.
Cordia Partners is a full-service provider of outsourced accounting, business advisory, technology, and business process consulting services. Cordia Resources provides recruiting and staffing solutions for Cordia Partners’ local and national clients. Combined they have more than 250 employees and approximately $48 million in total annual revenue.
“Cordia provides a prime opportunity for us to expand our offerings and strengthen our practice in the Washington, D.C. metro area,” Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, said in a press release. “Cordia Partners significantly boosts our client accounting services capabilities and capacity, while Cordia Resources brings a completely new additive recruiting service to our current offerings. We look forward to working with Cordia to provide our clients with the best technical and financial support possible.”
Cordia has three offices in the Washington, D.C. metro area, which solidifies Cherry Bekaert’s position in the market and supports local growth across service lines.
“The services offered by Cordia complement those of Cherry Bekaert. This synergy affords our clients the opportunity to access an expanded and innovative range of service offerings,” said Mitchell Weintraub, CPA, co-founder and managing partner of Cordia Partners. “Furthermore, this acquisition will enable our team to develop fresh skills and foster new connections, leading to the creation of mutually beneficial achievements. We look forward to growing with Cherry Bekaert and are confident that this is a win-win situation for our teams and the clients we serve.”
Cherry Bekaert is the 26th largest accounting firm in the U.S. by revenue, pulling in $349 million during its most recent fiscal year. The firm has 1,850-plus employees, more than 155 partners, and now has 36 offices in 17 states.