Ascend Adds Lucas Horsfall to its Platform
October 1, 2024 (Arlington, VA) – Ascend, a strategic partner for regional accounting firms backed by private equity firm Alpine Investors, today announced that Lucas Horsfall of Pasadena, CA, is the latest firm to join its new-age growth platform.
Founded in 1957, Lucas Horsfall (LH) serves families and business owners primarily in the manufacturing, real estate and construction industries, with increasing growth in the technology, healthcare, and food & beverage sectors. In addition to its Pasadena headquarters, the firm’s Encino and Irvine offices also become part of Ascend’s national footprint.
LH will add 15 partners and approximately 125 professionals to Ascend’s team. Terms of the deal, which takes effect today, were not disclosed.
Mike Amerio, CEO of Lucas Horsfall Advisors LLC, said, “As we look out over the next decade or so, there's so much change coming in terms of how to attract and retain people, how to navigate technology including AI, and how to manage a growing need for offshoring. Ascend gives us the right resources and the right technology team to manage these fast-paced changes well beyond just the workstation. We will have the opportunity to grow at a faster pace and get ahead of the game instead of trailing the game, to stay competitive in the marketplace.”
“Lucas Horsfall has a long and rich history as a trusted advisor in Southern California, with a concentrated client base in the San Gabriel and San Fernando Valleys, the Inland Empire, and Orange County. They have many defining characteristics that fit well with Ascend’s PeopleFirst culture and business model,” said Nishaad (Nish) Ruparel, Ascend’s President.
“LH sees growth as a key enabler of enduring professional fulfillment. The partners, led by Mike Amerio, embody a service orientation and desire for excellence that extends to clients and employees equally, and the firm’s leaders are fixtures in their community. Each of these foundational traits will be magnified by the capital and resources we bring to the table. We look forward to ushering in Lucas Horsfall Advisors’ bright future together.”
Ascend’s platform enables regional accounting firms with committed leadership, great cultures and a big vision for the future to overcome the challenges embedded in the traditional accounting firm partnership model so they can reach their full potential.
As is common in private equity deals with CPA firms, LH has adopted an alternative practice structure that separates non-attest from attest services. Tax and business advisory services will be provided by Lucas Horsfall Advisors LLC, a new entity affiliated with Ascend. Attest services will be provided by Lucas, Horsfall, Murphy & Pindroh, LLP, an independently owned and licensed CPA firm.