Description

Is acquiring another firm the right move?

In this episode of the Accounting for Innovation podcast, Jody Padar and Matt Tait dive into the intricacies of acquiring accounting firms. Matt shares his experience and insights on why acquisitions can be a strategic choice over organic growth, emphasizing the importance of cultural fit and people over economics. He details the stages of an acquisition, from negotiating a letter of intent to post-deal integration, highlighting the critical role of due diligence and trust-building. The episode provides valuable lessons for anyone considering mergers and acquisitions in the accounting industry.

In this episode, we cover:

• The importance of cultural fit and strategic growth through acquisitions
• Building a brand and networking to attract acquisition opportunities
• The decision-making process in selecting firms to acquire
• Assessing financials and employee compatibility before finalizing acquisitions
• Client transition and communication strategies to maintain trust and service continuity post-acquisition
• The challenges of aligning acquired firms with new business models and practices
• Lessons learned from successful and challenging acquisitions, like Decimal’s acquisition of KPMG Spark

This episode is brought to you by Decimal and the Radical CPA.