Cherry Bekaert

Cherry Bekaert LLP (formerly Cherry, Bekaert & Holland L.L.P.) is ranked among the nation's largest accounting firms and was awarded Forbes list of America’s Best Tax and Accounting Firms 2022.[1] With offices located in California, Maryland, Virginia, Washington, D.C., Florida, Georgia, North Carolina, Rhode Island, Texas, Tennessee, and South Carolina,[2] Cherry Bekaert ranks in the top 25 US accounting firms.[3] Employing over 1,350 professionals, Cherry Bekaert reported revenues of $250 million in 2021.[4]

Cherry Bekaert LLP
TypeLimited Liability Partnership
IndustryProfessional services
Founded1947 (1947), Wilmington, North Carolina
HeadquartersRaleigh, North Carolina
Area served
Southeast United States
Key people
Michelle L. Thompson (Firm Managing Partner & CEO)
ServicesAudit
Tax
Assurance
Wealth Management
RevenueUS$220 million (2019)
Number of employees
More than 1,250 (2019)
Websitecbh.com

Cherry Bekaert is a member of Allinial Global, an award-winning association of legally independent accounting and consulting firms whose members collaborate to bring their clients best-in-class solutions. As a member of Allinial Global, we have access to the expertise, resources, and advice of over 250 fellow firms in 88 countries throughout the world.

History
Cherry Bekaert office in Greenville, South Carolina

Cherry Bekaert began in 1947 as a small practice in Wilmington, North Carolina, led by Harry Cherry.[5] Charles Bekaert and William Holland joined the Firm in 1952 and 1953 respectively.[6] The Firm moved into the Richmond, Virginia, area in 1988, eventually relocating the corporate headquarters to Richmond from Charlotte in 1991.[7]

In February 2013, Cherry Bekaert & Holland launched a strategic rebranding initiative under the new name of Cherry Bekaert LLP. As part of the rebranding, Cherry Bekaert introduced its new tagline, "Your Guide Forward."[8]

Beginning May 1, 2018, Michelle Thompson succeeded Howard Kies as Cherry Bekaert's Firm Managing Partner and Chief Executive Officer.[9] Howard served as the firm's CEO and Firm Managing Partner for 27 years prior to Michelle's appointment.

In January 2019, Cherry Bekaert announced its second expansion into the Austin market with the acquisition of Flieller, Kruger & Skelton.[10] The firm's first introduction into the Austin market occurred in early 2018 with the acquisition of Powell, Ebert & Smolik, one of the largest local CPA firms that served Austin and Central Texas.[11] Cherry Bekaert’s Austin presence is now among the largest catering to the Austin market with eight Partners and more than 65 associates providing a full suite of assurance, tax and advisory services.

In February 2020, Cherry Bekaert LLP announced the acquisition of Icimo, LLC,[12] a leading data analytics and services firm, that builds profitable relationships between business users and their data. Based in the Raleigh, icimo analytics, by Cherry Bekaert brought more than 25 technology professionals. In April 2020, Cherry Bekaert Expands Credits & Incentives Resources and Capabilities with the acquisition of the Tax Advantage Group (“TAG”)[13] focused on New Markets Tax Credits funding. In July 2020, the firm acquired PMB Helin Donovan,[14] growing its Austin-based practice to 13 partners and more than 75 associates. The Firm’s combined Austin practice will now be among the six largest CPA and consulting firms serving the area.

In November of 2021, Cherry Beakert acquired TaxGroup Partners, [15] a national private equity and transaction tax advisory firm based in California. In 2022, the Firm names Jeff Peller, Chief Executive Officer of Cherry Beakert Wealth Management and the Firm officially moves its headquarters to Raleigh, North Carolina.

Industries

Cherry Bekaert LLP is divided into ten industry groups, including:[2][16][17]

  • Government & Public Sector[18]
  • Government Contractors[19]
  • Healthcare & Life Sciences[20]
  • Industrial Manufacturing[21]
  • Not-for-Profits[22]
  • Private Equity[23]
  • Professional Services[24]
  • Real Estate & Construction[25]
  • Hospitality & Retail[26]
  • Technology[27]

Accolades

Cherry Bekaert has been recognized as one of the "Best Places to Work" by job search site Vault.com;[28] Inside Business in Hampton Roads, VA;[29] Triangle Business Journal in Raleigh, NC;[30] and Tampa Bay Business Journal in Tampa Bay, FL.[31] Tableau Software, the leader in visual analytics, on February 26, 2020 awarded Icimo Analytics, by Cherry Bekaert the 2019 Partner of the Year for the Americas – Creating Customers for Life Award.[32] In 2022, Cherry Bekaert was awarded the following: 2021 Top Data Visualiztion Consulting/Service Companies, M&A Atlas Due Diligence & Valuation Firm of the Year, Vault Ranking - 100 Best Internships and Best Internships by Industry – Accounting, and Atlanta's Fastest Growing Accounting firm.

References
  1. Cherry Bekaert awarded as a 2022 America’s Best Tax and Accounting Firm by Forbes https://www.cbh.com/firm-news/cherry-bekaert-a-2022-americas-best-tax-and-accounting-firm-by-forbes/
  2. "Locations". Cherry Bekaert. Retrieved Aug 16, 2019.
  3. Cherry, Bekaert (March 8, 2019). "Accounting Today Top 100 Accounting Firms". Archived from the original on 2019-12-30. Retrieved March 8, 2019.
  4. "Why Cherry Bekaert". Cherry Bekaert. Retrieved Aug 16, 2019.
  5. Star News, July 11, 1971 Names that made the news in SENCland
  6. "Cherry, Bekaert & Holland Celebrates 60th Anniversary as a Firm". Archived from the original on July 8, 2011. Retrieved Aug 16, 2019.
  7. Charlotte Observer - September 12, 1991 - 1D BUSINESS, ACCOUNTING FIRM WILL MOVE TO RICHMOND
  8. "Cherry, Bekaert & Holland Rebrands". blog.insidepublicaccounting.com. Retrieved Aug 16, 2019.
  9. "Cherry Bekaert Announces Firm Leadership Changes". Cherry Bekaert. Retrieved Aug 16, 2019.
  10. "Cherry Bekaert Expands Presence in Austin Market". Cherry Bekaert. Retrieved Aug 16, 2019.
  11. "Cherry Bekaert Enters Austin Market with Strategic Acquisition". Cherry Bekaert. Retrieved Aug 16, 2019.
  12. "Cherry Bekaert Expands Digital Advisory Capabilities with Acquisition of Icimo, LLC". Cherry Bekaert. Retrieved 2021-02-08.
  13. "Cherry Bekaert Expands Credits & Incentives Resources and Capabilities with Acquisition of the Tax Advantage Group ("TAG")". Cherry Bekaert. Retrieved 2021-02-08.
  14. "Cherry Bekaert Strengthens Presence in Austin Market with Acquisition of PMB Helin Donovan". Cherry Bekaert. Retrieved 2021-02-08.
  15. "Cherry Bekaert Expands Private Equity Practice with Acquisition of TaxGroup Partners, LLC". Cherry Bekaert.
  16. Hoovers, Cherry, Bekaert & Holland, L.L.P.
  17. "Industries - Tax, Audit and Advisory Services". www.cbh.com.
  18. "Government - Tax, Audit and Advisory Services". Cherry Bekaert.
  19. "Government Contractors - Tax, Audit and Advisory Services". www.cbh.com.
  20. "Health & Life Sciences - Tax, Audit and Advisory Services". www.cbh.com.
  21. "Industrial - Tax, Audit and Advisory Services". www.cbh.com.
  22. "Not-for-Profits - Tax, Audit and Advisory Services". www.cbh.com.
  23. "Private Equity - Tax, Audit and Advisory Services". www.cbh.com.
  24. "Professional Services - Tax, Audit and Advisory Services". www.cbh.com.
  25. "Real Estate & Construction - Tax, Audit and Advisory Services". www.cbh.com.
  26. "Retail & Restaurants - Tax, Audit and Advisory Services". www.cbh.com.
  27. "Technology - Tax, Audit and Advisory Services". www.cbh.com.
  28. "Cherry Bekaert LLP-Company Profile-Vault.com".{{cite web}}: CS1 maint: url-status (link)
  29. "CB&H's Hampton Roads Practice Voted "Best Place to Work" for Second Consecutive Year". Archived from the original on July 21, 2012. Retrieved Aug 16, 2019.
  30. "Cherry Bekaert Triangle best Plast to work". www.bizjournals.com. Retrieved 2021-06-24.
  31. "Best Places to Work finalists announced by TBBJ". www.bizjournals.com. Retrieved 2021-06-24.
  32. "Icimo Analytics by Cherry Bekaert recognized by Tableau Software". Cherry Bekaert. Retrieved 2021-02-08.
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