Accounting and consulting firm BDO USA has agreed to buy Goldstein Schechter Koch (GSK), a provider of accounting, tax and wealth advisory services to public and private middle market businesses and affluent individuals, for an undisclosed sum.
The deal includes the services offered by GSK Wealth Advisors, a fee-based registered investment advisory firm that offers customised portfolio management solutions and tax sensitive investment strategies.
GSK, which operates from offices in Coral Gables and Fort Lauderdale, has been a member of BDO Alliance USA since 2004.
It employs over 100 staff, including 14 partners, all of whom will join BDO as part of the deal.
The transaction is expected to close before the end of the third quarter, subject to customary closing conditions.
BDO USA CEO Wayne Berson said: “This combination greatly increases our critical mass in the important South Florida market and adds significant resources to our growing wealth advisory practice.
“Through our previous Alliance relationship, we have a history of collaboration on client work and business development with our new partners and staff. This familiarity will be extremely valuable as we integrate the GSK practice with BDO.”
GSK COO Vince Carrodeguas said: “By combining with BDO we will build on that tradition by bringing our clients a wider array of solutions, broader industry experience, and the full coverage of BDO's global network. BDO has a very similar culture to our own and the firm’s reputation as a favorable workplace also fits well with our focus on our people, who will now have access to many more opportunities to pursue career growth.”