Accounting Firm Mergers Gain Momentum in Indiana for 2025
Accounting firms in Indiana are going through a bit of a shake-up lately. Mergers and acquisitions are happening at a pace we haven’t seen before, and it looks like 2025 will bring even more changes.
According to Josh Hollingsworth, an attorney in Indianapolis, accounting firm mergers used to be pretty rare in this area. But things have taken a turn recently, with more private equity investment coming into the picture. This new trend has companies reevaluating their size and strategy to stay competitive.
A big shift happened in 2021 when an accounting firm in New York accepted investment from a private equity group. Since then, over 20 firms across the country have seen similar deals. Smaller accounting firms are feeling the pressure to grow and keep up with the larger players in the market.
Businesses are also changing how they operate, which means accounting firms have to adapt too. Many companies are operating internationally and in all 50 states, which means accounting firms need to up their game with better technology and more staff to handle the workload.
This year has seen some major mergers in the Indianapolis area. Greenwalt CPAs Inc. is joining forces with Barnes Dennig & Co. Ltd. and operating under the Barnes Dennig name. Meanwhile, Katz, Sapper & Miller, a large accounting firm, acquired Cassady Schiller CPAs & Advisors, expanding its operations.
Brian Heaton, from Krieg DeVault, says that the level of activity in Indiana is the highest he’s ever seen. Indianapolis is a hot spot for accounting firms, much like law firms and banks in the area. So, it’s no surprise that we’re seeing so much movement in this industry.2024 has been a big year for accounting firms in Indiana, and all signs point to 2025 being just as eventful.
