State Growth Mode Fuels Merger of Accountant Firms

Greg Martin (left) and Clay Sturgis (right) of Moss Adams comment on the recent merger.

DALLAS—For many states, the outlook is mixed but last month the Fed reported that the Texas employment forecast stands at 1.3% growth for 2016. This suggests 155,700 jobs will be added in Texas this year, barring any headwinds. And, Dallas is one of the fastest-growing markets in the United States. That growth along with the Fed’s projection are likely to result in additional personnel and large mergers within companies throughout DFW. One such merger recently occurred between accounting and business consulting firm, Moss Adams LLP and Dallas–based CF Accountants & Consultants . The combination further strengthens the resources of Moss Adams in Dallas and increases the firm’s capabilities to serve the financial services industry, especially broker-dealers/hedge funds, as well as real estate clients and high-net worth individuals. “This combination with CF positions us well to meet the growing needs of our local client base and creates an excellent platform for our continued expansion in the Dallas market,” said Clay Sturgis , CMA, CPA, partner in charge of the Dallas and Austin offices at Moss Adams. “CF Accountants & Consultants has a 60-year history serving clients in the region and we look forward to welcoming its talented professionals to Moss Adams. Over the last 18 months, we’ve worked hard to round out our tax, assurance and consulting capabilities, more than doubling our head count in Dallas.” Established in 1956, CF Accountants & Consultants provides audit, tax, accounting, business valuation and business advisory services to clients in a variety of industries, including real estate, construction and financial services. This will continue to build the Moss Adams office in Dallas, which has resources in these areas along with strong capabilities in the technology, communications and media industries. “This combination with Moss Adams felt like a natural step in the growth strategy of our firm,” said Bret Robertson , managing partner of CF Accountants & Consultants. “Our firms have similar company cultures, business ideals and long-term goals, and we couldn’t ask for a better partner to carry us into the future. Our clients will benefit from the expanded resources and opportunities available to them from a firm the caliber of Moss Adams.” Last month, 57 CF Accountants & Consultants professionals including seven partners, officially began working as part of Moss Adams occupying CF’s current office space. The addition of these employees grows the Moss Adams Dallas presence to nearly 90 professionals. Sturgis tells GlobeSt.com: “Real estate plays a key role in any organization’s growth strategy, and the significant expansion of Texas’ economy is creating more need for top-flight counsel and expertise in optimizing real estate strategies.” This merger is part of a growth focus in Texas and California for Moss Adams. The firm entered the Texas market in January 2015 through a combination with a local telecom consulting practice, which included six professionals in Dallas, and has steadily increased its service offerings in the area by adding 27 local hires and intercompany transfers. Additionally, Moss Adams recently announced the establishment of a Fresno, CA, location, expanding the firm’s presence in the region and further bolstering its expertise in food and agriculture, manufacturing and real estate. Greg Martin , Moss Adams’ national practice leader for real estate and hospitality, tells GlobeSt.com: “Texas is one of the world’s largest economies, but is also fueled by one of the most entrepreneurial small business cultures in the US, so we think our range and our real estate group are a great fit for Texas business. The unique real estate markets in Texas, which serve local firms and multi-nationals alike, require the kind of local-global knowledge and teams we’ve assembled. We are excited to be a part of the community.” Moss Adams has 29 locations in Washington, Oregon, California, Arizona, New Mexico, Kansas and Texas.