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Business Observer Friday, Sep. 20, 2019 4 weeks ago

National professional services firm consolidates its position in local market

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The strategic merger will create a new accounting powerhouse in Tampa Bay.

RSM US LLP, a nationwide audit, tax and consulting services firm that serves middle-market companies, will now have offices on both sides of Tampa Bay thanks to the acquisition of St. Petersburg-based Gregory, Sharer & Stuart.

According to a news release, the deal is expected to close Oct. 1. When it does, GSS Managing Shareholder Jim Newman, the firm’s executive leadership committee and other shareholders will join RSM as partners. GSS will continue to operate at its existing office at 100 2nd Ave. S., Suite 600, St. Petersburg.

Financial terms of the deal were not disclosed in the release. For Chicago-based RSM, it’s a big move, consolidating its presence in a booming market for professional services by adding more than 60 accounting professionals to its team. RSM officials say the acquisition will make it the fifth-largest accounting firm in the Tampa Bay region.

Newman says in the release he expects the transition to be a smooth one thanks to GSS’s membership in the RSM US Alliance, a network for independent firms like his that offers access to RSM resources in key areas — such as talent management, client services, and marketing and business development — while allowing members to retain and develop their own unique organizational identity.

“We have worked with the outstanding team at RSM over the past five years,” Newman states in the release. “We are excited to take this important step forward by joining RSM. Our firms share a client-centric approach to doing business and the same values, culture and people-focused philosophy. We especially look forward to continuing to provide the same outstanding service to our GSS clients while offering a broader array of solutions — new consulting solutions, in particular — to meet their ever-changing business needs."

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