Reading, Pennsylvania, October 9, 2025
News Summary
Cherry Bekaert, a Raleigh-based accounting firm, is set to acquire Herbein + Company, a leading CPA advisory firm located in Reading, Pennsylvania. This acquisition, expected to close in late October, marks Cherry Bekaert’s first expansion into Pennsylvania and will enhance its operations throughout the northeastern and mid-Atlantic regions. With a robust revenue increase, this strategic move aligns with Cherry Bekaert’s goal to broaden its client base and service offerings across various industries.
Cherry Bekaert to Expand Presence in Pennsylvania Through Acquisition
Cherry Bekaert, an accounting firm based in Raleigh, North Carolina, is set to acquire Herbein + Company Inc., a CPA advisory firm renowned for its strong position in the financial services industry. The acquisition is anticipated to finalize later in October 2025, marking a significant move for Cherry Bekaert as it extends its reach into Pennsylvania.
While the financial terms of the deal have not been released, the acquisition is expected to benefit both firms and their clients alike. Herbein + Company is recognized among the top 100 firms on INSIDE Public Accounting’s list, showcasing its reputable standing in the industry. This acquisition represents a crucial step for Cherry Bekaert as it aims to enhance its connectivity across the northeastern, mid-Atlantic, and midwestern regions of the United States.
About Herbein + Company
Herbein + Company, headquartered in Reading, Pennsylvania, has a robust national presence with additional offices throughout Pennsylvania and in Delaware and New Jersey. The firm specializes in several industries, including agribusiness, construction, financial institutions, manufacturing, higher education, and government. Their diverse client base features family-owned businesses, private equity firms, business enterprises, and privately held corporations, aligning well with the existing clientele of Cherry Bekaert.
With Herbein reporting annual revenues of $60.2 million, the firm comprises 12 offices, 45 partners, and nearly 400 staff members. This integration into Cherry Bekaert is expected to enhance service offerings across various critical industries and strengthen the firm’s regional presence.
Cherry Bekaert’s Growth Strategy
This acquisition fits into Cherry Bekaert’s broader mergers and acquisitions (M&A) strategy, which gained momentum following its partnership with the private equity firm Parthenon Capital in 2022. The firm has previously secured acquisitions of businesses such as Jameson in Massachusetts and Spicer Jeffries in Denver. As one of the top firms, Cherry Bekaert ranks No. 20 among Accounting Today’s Top 100 Firms, with revenues exceeding $660 million. The firm operates through 47 offices, employs 183 partners, and boasts over 2,600 staff.
The transaction between Cherry Bekaert and Herbein will encompass two acquisitions: Cherry Bekaert Advisory LLC will take over Herbein’s nonattest assets, while Cherry Bekaert LLP will acquire Herbein’s attest assets. This structure ensures that both entities can maintain their high service standards while transitioning into a unified team operating under the Cherry Bekaert brand.
Looking Ahead
As the acquisition process progresses, both firms anticipate a seamless integration that will continue to prioritize the delivery of high-quality service to existing clients. David Stonesifer, the CEO of Herbein, expressed confidence in the transition, reassuring clients that they will remain in capable hands as the two firms join forces. Meanwhile, Michelle Thompson, the CEO of Cherry Bekaert Advisory LLC, emphasized that this acquisition is a strategic move aimed at bolstering service offerings across essential sectors.
Overall, this acquisition showcases Cherry Bekaert’s commitment to growth and expansion, and its goal of providing enhanced, comprehensive services to a diverse range of clients in Pennsylvania and beyond.
FAQ Section
What is the purpose of Cherry Bekaert’s acquisition of Herbein + Company?
The acquisition aims to expand Cherry Bekaert’s presence in Pennsylvania and enhance its service offerings across key industries.
When is the acquisition expected to close?
The acquisition is expected to close later in October 2025.
How will the transaction be structured?
The transaction will consist of two acquisitions: Cherry Bekaert Advisory LLC will acquire Herbein’s nonattest assets, while Cherry Bekaert LLP will acquire Herbein’s attest assets.
Key Features of the Acquisition
| Feature | Description |
|---|---|
| Acquirer | Cherry Bekaert |
| Acquired Firm | Herbein + Company Inc. |
| Expected Closure | October 2025 |
| Financial Terms | Not disclosed |
| Herbein’s Revenue | $60.2 million |
| Cherry Bekaert’s Revenue | $660 million |
| Client Base | Includes family-owned businesses, private equity, and privately held businesses |
| Number of Offices | Herbein: 12; Cherry Bekaert: 47 |
Deeper Dive: News & Info About This Topic
Additional Resources
- Accounting Today: Cherry Bekaert to Enter Pennsylvania with Herbein Deal
- Wikipedia: Accounting
- CPA Practice Advisor: Cherry Bekaert to Acquire Herbein + Company
- Google Search: Cherry Bekaert Herbein
- Lehigh Valley Business: Herbein to be Acquired by North Carolina Firm
- Google Scholar: Cherry Bekaert acquisition
- The Reporter Online: Herbein Co. Inc. to be Acquired
- Encyclopedia Britannica: Accounting
- Inside Public Accounting: IPA Top 500 Firms
- Google News: Accounting Firms Acquisitions
Author: Construction NY News
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