NAPERVILLE -- Professional services firm Sikich LLP said it will acquire Alexandria, Virginia-based public accounting firm Halt, Buzas & Powell, Ltd.
Terms of the acquisition were not announced. The deal marks Sikich's entry into the Washington, D.C., and Baltimore markets and expands its presence on the East Coast.
HBP offers audit and assurance, business consulting, outsourced accounting, tax, and information technology services to business across industries. The firm specializes in working with not-for-profit organizations and government contractors. It has specialized experience offering outsourced CFO services to public charities and trade associations.
"HBP's expertise in not-for-profit accounting and their outsourced CFO services complement our team's strengths." said Sikich CEO Chris Geier. "With a presence in the Washington, D.C., area, we'll be well-positioned to provide valuable business services to more organizations on the East Coast."
Approximately 50 HBP employees will join Sikich and continue to work in offices in Alexandria, Virginia, and Crofton, Maryland. Powell and Marco Fernandes will join Sikich as partners.
The transaction is scheduled to close on Dec. 31.
The deal comes on the heels of Sikich's acquisitions of Brookfield, Wisconsin-based accounting firm Freyberg, Hinkle, Ashland, Powers & Stowell, Oak Brook, Illinois-based accounting firm Scanlan & Leo, and technology consulting firm NexGen Consultants.