What's Happening?
PKF O'Connor Davies, a Top 25 accounting firm based in New York, has acquired Topping, Kessler & Co., a firm located in Hollywood, Florida. This acquisition marks PKFOD's first entry into the Florida market,
although the firm already has an office in Fort Lauderdale and an investment banking group in Palm Beach Gardens. The acquisition is part of PKFOD's growth strategy, which has been bolstered by private equity funding received in 2024. The financial terms of the deal were not disclosed. Topping Kessler, founded in 1981, specializes in financial services, sports, entertainment, and private client services for high net worth individuals. The acquisition will add four partners and over 30 team members to PKFOD's workforce.
Why It's Important?
The acquisition of Topping Kessler by PKF O'Connor Davies is a strategic move to enhance the firm's presence in the Florida market, a region with significant growth potential. This expansion is part of PKFOD's broader strategy to increase its market share through mergers and acquisitions, supported by private equity funding. The deal allows PKFOD to offer enhanced resources and expertise to its clients while maintaining personalized service. The acquisition also reflects the increasing trend of accounting firms seeking external funding to support growth and expansion efforts.
What's Next?
PKF O'Connor Davies plans to integrate Topping Kessler's operations and maintain its office in Hollywood, Florida. Some employees may relocate to the Fort Lauderdale office to reduce commute times. The firm is expected to continue its expansion strategy, with potential future acquisitions on the East Coast, including in Florida, Washington, D.C., and possibly California, Tennessee, and Texas. The firm aims to strategically grow its presence in key markets while maintaining its independence and culture.
