What is the story about?
What's Happening?
Smith + Howard, ranked No. 85 on Accounting Today's Top 100 Firms list, has acquired Horton, Lee & Burnett, an accounting and consulting firm based in Birmingham, Alabama. This acquisition marks Smith + Howard's entry into Alabama, expanding its geographic footprint in the Southeast. Horton, Lee & Burnett, founded in 1967, provides accounting, auditing, tax, and advisory services to various sectors including real estate, healthcare, manufacturing, nonprofits, and automotive dealerships. The acquisition aligns with Smith + Howard's strategy to combine organic growth with targeted expansions, enhancing its expertise and geographic reach.
Why It's Important?
The acquisition of Horton, Lee & Burnett by Smith + Howard is significant as it expands the firm's presence in the Southeast, particularly in Alabama. This move allows Smith + Howard to offer a broader suite of services to its clients, potentially increasing its market share and influence in the region. The integration of Horton, Lee & Burnett's team and client relationships is expected to provide greater value to businesses and individuals served by Smith + Howard. This strategic expansion could also lead to increased competition in the accounting and consulting industry in the Southeast.
What's Next?
Following the acquisition, Smith + Howard is likely to focus on integrating Horton, Lee & Burnett's operations and client base into its existing framework. This may involve aligning business practices, expanding service offerings, and leveraging the combined expertise of both firms to enhance client service. The firm may also explore further expansion opportunities in the Southeast to strengthen its market position. Stakeholders, including clients and employees, will be closely monitoring the integration process and its impact on service delivery and business growth.
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