Ascend Expands Along the Eastern Seaboard, Adds Three New Firms to its Growth Platform
May 3, 2024 (Arlington, VA) – Ascend, a strategic partner for regional accounting firms backed by private equity firm Alpine Investors, today announced that it is expanding into three additional regions along the Eastern seaboard, adding firms with a presence in New England, the Mid-Atlantic and the Southeast.
Blackman & Sloop of Chapel Hill, NC, and TSS of Lebanon, NH, become the newest partner firms to join Ascend’s new-age growth platform. In addition, Vogel & Co. (Darien, CT, and West Palm Beach, FL) integrates with LMC, Ascend’s partner firm in New York City.
Terms of the deals, which took effect May 1, were not disclosed.
As is common in private equity deals with CPA firms, Blackman & Sloop and TSS have adopted an alternative practice structure under which each has formed a new entity affiliated with Ascend that will provide tax, business advisory and other non-attest services. Attest services will be provided by separate, newly established, independently owned and licensed CPA firms.
“We are honored to be trusted with the lasting legacies of these firms, which combined have well over 100 years of history serving clients. Our Culture, Growth and Talent models are game-changers for even the most successful firms. Interest in joining Ascend has never been higher, and we are so excited to see what the rest of this year brings,” said Ascend Founder & CEO David Wurtzbacher, one of Accounting Today’s 2023 Top 100 Most Influential People in Accounting.
“Partnering with Ascend is the answer to all of the ‘what if’ questions we were asking ourselves as we looked for solutions to the limitations on our growth. They are literally changing the very model that was limiting us by providing the resources we need to help us grow while enabling us to retain our identity and our culture. Right away they are giving us the support we need in order to focus on the things that matter to us the most – our clients, our people, and our legacy,” said James N. Godfrey, CEO of TSS Advisors LLC.
TSS, founded in 1986, is the largest accounting services firm headquartered in the Upper Connecticut River Valley of New Hampshire and Vermont. With 8 partners and 55 staff, the firm offers advisory, tax consulting & compliance, employee benefit planning, and bookkeeping services to clients in the automotive, not-for-profit and other industries.
Andrea Woodell Eason, CEO of B&S Advisors LLC, said, “Uniting with Ascend will propel us to a new era of client service and growth. With a rich history spanning 50 years, we recognize the importance of evolving and expanding our capabilities to better serve our clients and nurture our team's growth. Yet, the journey forward is not without its hurdles – from maintaining competitive pricing to sourcing top-tier talent and embracing cutting-edge technology. By joining forces with Ascend, we unlock a wealth of resources and expertise that will allow us to surmount these challenges. Through this collaboration, we not only strengthen our position in the market but also reaffirm our commitment to cultivating an environment where excellence thrives.”
Founded in 1973, Blackman & Sloop is a premier advisory, tax, and consulting organization serving individuals and closely held, privately owned businesses, with industry specializations in construction and nonprofit. The firm adds 6 partners and 45 team members to Ascend.
LMC Expansion
Simultaneously with the new partner firm transactions, Ascend partner LMC in New York City merges Vogel & Co., an independent business management and tax advisory firm, into its family office practice.
“This partnership with Vogel & Co. gives us both additional capacity to address the increasing demand for family office services by combining our high-caliber talent teams and expanding the deep technical expertise we can offer our clients,” said Lee M. Cohen, CEO of LMC Advisors and a member of Accounting Today’s 2023 MP Elite.
“Partnering with LMC allows us to achieve our joint dream of building the premier family office firm offering clients tailored financial guidance and transparency, empowering families to preserve and grow their wealth and their legacies. Together, we will raise the standard for excellence,” said George Vogel, Founder and CEO.
LMC was recognized as a 2024 regional leader (Mid-Atlantic) by Accounting Today.
About Ascend
Ascend empowers entrepreneurial CPAs to reach their goals with an innovative growth model that brings their firms into the new age. Backed by private equity from people-focused Alpine Investors, Ascend is building a modern platform for regional accounting firms that enables them to stay independent while accessing the resources of a larger firm to help them grow. Ascend provides access to growth capital, robust talent acquisition, best-of-breed technology, a catalytic leadership system, shared back-office services, and modernized equity incentives so that firms can surmount today’s industry challenges and reach their full potential. Founded in January 2023, in its first year of operation Ascend was ranked 59 on Accounting Today’s list of Top 100 Firms. For more information, visit www.ascendtogether.com.
# # #
Contact:
Julie Gross Gelfand
juliegrossgelfand@gmail.com
(516) 729-8067