mergers & acquisitions

covid-19 shakes up m&a activity

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arrow rising above ever larger blocks in businessman's hand, indicating growthwant to grow? make sure your tech stack can keep up.

by terry putney

we are in a fluid environment as firms adapt and learn more about what to expect. i think earlier this year there was hope that we would emerge from this economic environment by the end of 2020. it looks now like this could definitely have an impact through 2021.

more: 2021: you’ll never see ‘normal’ again | survey: we adapted to remote work … now what? | survey: 2020’s disruptions are only the beginning | covid brought us more and better client communication
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it is a mixed bag so far for m&a. some firms have pulled back and i suspect that is because, although this may not make sense logically, it may be hard to internally sell buying a firm and hiring more staff when the firm is laying off people and cutting back on partner draws. however, we are also seeing very motivated buyers and sellers because of the opportunities that appear to be available. one thing that can’t be avoided is the difficulty of negotiating and evaluating targets when you can’t meet face to face regularly.
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before you sell your practice

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older couple on autumn walk with trees in backgrounda broker is an option, but you have things to decide first.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: we are contemplating selling our firm. it’s a difficult decision due to the financial rewards and the enjoyment we get from our work. i am 63 and my wife-partner is 62 and we are not in a hurry.

more: price your practice by gross | an alternative to pro bono | work the client needs … but won’t pay for | tossing timesheets is just the start | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
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we would like to sell to a cpa who would be very committed to this business and our clients, many of whom have been with us for over 20 years. how should we start?
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price your practice by gross

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price targetbonus checklist: 11 questions to make sure you’re comparing apples to apples.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: everyone i talk to about what my practice is worth talks about a percentage or multiple of gross. just what is “gross” and why is it done this way?

more: an alternative to pro bono | work the client needs … but won’t pay for | tossing timesheets is just the start | collect more by clearing up billing | 5 ways to build teamwork
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answer: you are right that practices are priced based on gross. the main reason is that this method seems to work well. however, there is a wide range of what gross is and how it is applied.
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replay: covid impact on cpa firm m&a

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m&a maven robert fligel says coronavirus is pushing deal-flow and trimming multiples.

^ click to play the video

featuring robert fligel
rf resources

covid-19 is putting new pressure on cpa firms to close merger deals, even if it means taking a haircut in the selling price, says robert fligel, the legendary new york-based cpa firm mergers-and-acquisitions dealmaker, in a new 卡塔尔世界杯常规比赛时间 flash briefing.

in this replay of the live web event, a fast-paced 30-minute webinar update, fligel covers:

  • the current state of the m&a market,
  • best practices for sellers, and
  • pitfalls for buyers and sellers

^ listen to the podcast

bonus downloads:

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the morning after the merger

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//www.g005e.com/2020/09/17/the-morning-after-the-merger/the definitive 24-point checklist.

by august j. aquila

you just signed the merger agreement and everyone goes out to celebrate. the work is over and now you think you can relax.

more: 6 action steps for a smooth retirement transition | 7 succession planning best practices | grissom and aquila on partner performance evaluations | gross profit in a professional services firm: opening a dialogue
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what else is there to worry about?

plenty!

you now have to move your eye from the financial to the human side of the merger.

your work in this area has just begun and may last for 12 months or more.
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covid drives new m&a trends

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buyers find good deals as baby boomers head for the exits.

by joseph tarasco
accountants advisory group

as the economic recession and health concerns in our nation are at a pivotal point and closely linked in a “perfect storm,” strategy-oriented cpa firm leaders will take more of a holistic approach to manage and lead their firms.

more on m&a: m&a surges ahead despite covid crisis | new rules: covid shifts m&a landscape | merging in sellers: what you need to know | how to start (or re-start) your own accounting firm | five keys to successfully selling a cpa firm | mergers: what could go wrong? | 10 questions to ask yourself before buying an accounting practice

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coming to terms with the recession and health risks, leaders must not only focus on the current and immediate issues affecting their firms but now they must also plan for the near and long-term future “new model.”

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why so many m&as fall short

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three office workers glaring at cameraplus: the 3 prongs of culture and why they matter.

by domenick j. esposito
8 steps to great

principally because of the “post covid-19 blues” and anticipated difficulty in growing organically at an acceptable rate and because of the ever-increasing number of baby boomer retirements, there is a sense that small and mid-sized firms will continue to merge at a healthy pace.

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to illustrate, in just the past few weeks, we learned that anders cpas + advisors picked up cummings, ristau & associates (both of st. louis), adams, brown, beran & ball chtd (great bend, kansas) added jonesboro, arkansas office of egp pllc and hancock askew & co. (georgia and flordia) acquired capa (miami). these are noteworthy transactions and we believe that there are more to come.
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the covid outlook: a long, slow climb back to recovery

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why right networks’ acquisition of rootworks may be just what the doctor ordered

^ click to play

with rick telberg
卡塔尔世界杯常规比赛时间

the accounting world shifted a little with the acquisition by right networks, a cloud-hosting vendor, of rootworks, a technology platform provider to cpa firms.

though conceived before the pandemic, the deal was closed as the first wave of coronavirus was crashing against the shores of the u.s. and it may be a sign of the times under pandemic conditions, as accountants — and, indeed, business in general — race for new technology solutions and business models.

see: right networks acquires rootworks

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in this exclusive interview with 卡塔尔世界杯常规比赛时间, right networks ceo joel hughes and rootworks founder darren root, explain the reasons for the deal, and their forecast for the future under covid. warning: their forecast for the future under covid is not pretty.

but the combination of the two companies may augur hold clues to the future of the profession.

transcript

here’s the full transcript, only lightly edited:

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m&a surges ahead despite covid crisis

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//www.g005e.com/2020/06/10/ma-surges-ahead-despite-covid-crisis/but key trends, logistics, and legalities are changing.

by r. peter fontaine

given the enormous disruptive effect of the covid-19 crisis, it is surprising that mergers and acquisitions are still very much near the top of the accounting firm agenda.

more on cpa firm m&a: new rules: covid shifts m&a landscape | merging in sellers: what you need to know | five keys to successfully selling a cpa firm | mergers: what could go wrong? | 10 questions to ask yourself before buying an accounting practice | buyers name 20 big merger turnoffs | why firms merge: hint, it’s not for the clients | five key decisions for your exit strategy

coronavirus crisis updates: start here for a guide to all our coverage.

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in a word, sellers want to sell – and – buyers want to buy. we will examine the reasons we have seen that contribute to the continued strength of acquisitions; as well as the changes and challenges confronting buyers and sellers in a covid world. read more →

new rules: covid shifts m&a landscape

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checklists: top 10 tips for buyers and sellers.

by ira rosenbloom

many cpa firms go into merger conversations thinking that, because they have done deals before, they can do what they’ve done in the past. but in this covid-impacted economy, the tolerance for risk is low—and changing day-to-day.

more ira rosenbloom: seven smart ways to make this your best tax season ever | eight steps for re-engineering the role of managing partner | ten steps to a better tax season | feeling the urge to merge? first, consider the angles

coronavirus crisis updates: start here for a guide to all our coverage.

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we’re seeing every day how much the pandemic can impair and alter both daily life and business fundamentals, so the more efficient you can be in getting ready for a merger, the better. these days, you need to move fast or risk losing out.

here are some recommendations crucial for getting both buyers and sellers properly prepared for their next step in m&a negotiation.

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merging in sellers: what you need to know

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businessman wearing glasses, suit and serious expressionbuyer beware. seriously.

by marc rosenberg
the rosenberg practice management library

dramatic changes have swept the cpa firm merger market in the past few years. because of the avalanche of sellers in the market, as well as the changes in strategic direction many buyers are taking, buyers are being much more selective than in the past.

more: 8 ways comp systems get partners to do what the firm needs | 7 points of a well-crafted partner buyout agreement | take yoda’s advice on strategic planning | buyers name 20 big merger turnoffs | smart tech tips from top cpa firms | 15 amazing organizational tactics to manage a cpa firm | why governing by partner ownership is bound to fail
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this means that sellers who always thought that their fallback exit strategy was to sell to a larger firm may be in for a rude awakening.
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how to start (or re-start) your own accounting firm

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checklist: 18 steps to success.

by brannon poe

are you exploring the idea of starting your own cpa firm? or perhaps you are ready to re-invent the one you have? either way, we’ve gathered some of the key focus areas to help you create your plans for the future.

more by brannon poe: five keys to successfully selling a cpa firm  |  10 questions to ask yourself before buying an accounting practice  |  five key decisions for your exit strategy  |  how to transfer a boomer-owned cpa practice to a millennial |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

1. should you start your own cpa firm? this is a great place to start, don’t you think? not everyone is cut out to own their own business. starting a cpa firm takes a variety of different skills and talents.

in the meantime, here’s a short list of what’s needed to thrive: read more →

five keys to successfully selling a cpa firm

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no.1: timing, timing, timing.

by brannon poe

selling an accounting practice can be a hard decision, and an emotional one. having a clear vision of what success looks like is a great place to start.

more brannon poe: 10 questions to ask yourself before buying an accounting practice  |. five key decisions for your exit strategy  |. how to transfer a boomer-owned cpa practice to a millennial

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

one of the first tasks of developing any strategy is to have a clear definition of what success looks like. successfully selling a cpa firm is no different.

there are five key components in a successful deal: read more →