Cherry Bekaert

Cherry Bekaert (formerly Cherry, Bekaert & Holland L.L.P.) is a professional services firm based in Raleigh, North Carolina. It provides assurance, consulting, financial advisory, and tax services. Employing over 1,350 people, Cherry Bekaert has offices in California, Maryland, Virginia, Washington, D.C., Florida, Georgia, North Carolina, Rhode Island, Texas, Tennessee, and South Carolina.[1]

Cherry Bekaert
TypeLimited Liability Company & Limited 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)
ServicesAssurance
Consulting
Financial Advisory
Tax
RevenueUS$220 million (2019)
Number of employees
More than 1,250 (2019)
Websitecbh.com

History
Cherry Bekaert Office, Vienna, VA
Cherry Bekaert office in Greenville, South Carolina

Cherry Bekaert began in 1947 as a small practice in Wilmington, North Carolina, led by Harry Cherry.[2] Charles Bekaert and William Holland joined the Firm in 1952 and 1953 respectively.[3] The firm moved into the Richmond, Virginia, area in 1988, eventually relocating the corporate headquarters to Richmond from Charlotte in 1991.[4]

In February 2013, Cherry Bekaert & Holland LLP 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."[5]

Beginning May 1, 2018, Michelle Thompson succeeded Howard Kies as Cherry Bekaert's Firm Managing Partner and Chief Executive Officer.[6] Kies served as the firm's CEO and Firm Managing Partner for 27 years prior to Thompson's appointment.

The firm acquired Powell, Ebert & Smolik of Austin in 2018,[7] and in January 2019, Cherry Bekaert announced the acquisition of Flieller, Kruger & Skelton, also in Austin.[8]

In February 2020, Cherry Bekaert LLP announced the acquisition of Icimo LLC, an analytics firm based in Raleigh.[9] In July 2020, the firm acquired PMB Helin Donovan.[10]

In November 2021, Cherry Bekaert acquired TaxGroup Partners, [11] a national private equity and transaction tax advisory firm based in California. In 2022, the firm moves its headquarters to Raleigh, North Carolina.

On June 30, 2022, Cherry Bekaert announced Parthenon Capital will investment in the Firm’s business advisory practices. Cherry Bekaert will be the overall brand name. Cherry Bekaert LLP, a licensed CPA firm, will provide attest services and Cherry Bekaert Advisory LLC will provide business advisory and non-attest services.

Industries

Cherry Bekaert is divided into ten industry groups: Government & Public Sector, Government Contractors, Healthcare & Life Sciences, Industrial Manufacturing, Not-for-Profits, Private Equity, Professional Services, Real Estate & Construction, Hospitality & Retail, and Technology.

Awards

Cherry Bekaert has been recognized as one of the "Best Places to Work" by job search site Vault.com;[12] Inside Business in Hampton Roads, VA;[13] Triangle Business Journal in Raleigh, NC;[14] and Tampa Bay Business Journal in Tampa Bay, FL.[15] 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.[16] In 2022, Cherry Bekaert was awarded the following: 2021 Top Data Visualiztion Consulting/Service Companies,[17] M&A Atlas Due Diligence & Valuation Firm of the Year,[18] Vault Ranking - 100 Best Internships and Best Internships by Industry – Accounting, and Atlanta's Fastest Growing Accounting firm. Cherry Bekaert was nominated as a 2022 America’s Best Tax and Accounting Firm by Forbes.[19]

References
  1. "Locations". Cherry Bekaert. Retrieved July 20, 2022.
  2. Star News, July 11, 1971 Names that made the news in SENCland
  3. "Cherry, Bekaert & Holland Celebrates 60th Anniversary as a Firm". Archived from the original on July 8, 2011. Retrieved August 16, 2019.
  4. Charlotte Observer - September 12, 1991 - 1D BUSINESS, ACCOUNTING FIRM WILL MOVE TO RICHMOND
  5. "Cherry, Bekaert & Holland Rebrands". blog.insidepublicaccounting.com. Retrieved August 16, 2019.
  6. "Cherry Bekaert Announces Firm Leadership Changes". Cherry Bekaert. Retrieved August 16, 2019.
  7. "Cherry Bekaert Enters Austin Market with Strategic Acquisition". Cherry Bekaert. Retrieved August 16, 2019.
  8. "Cherry Bekaert Expands Presence in Austin Market". Cherry Bekaert. Retrieved August 16, 2019.
  9. "Cherry Bekaert Expands Digital Advisory Capabilities with Acquisition of Icimo, LLC". Cherry Bekaert. Retrieved February 8, 2021.
  10. "Cherry Bekaert Strengthens Presence in Austin Market with Acquisition of PMB Helin Donovan". Cherry Bekaert. Retrieved February 8, 2021.
  11. "Cherry Bekaert Expands Private Equity Practice with Acquisition of TaxGroup Partners, LLC". Cherry Bekaert.
  12. "Cherry Bekaert LLP-Company Profile-Vault.com".
  13. "CB&H's Hampton Roads Practice Voted "Best Place to Work" for Second Consecutive Year". Archived from the original on July 21, 2012. Retrieved August 16, 2019.
  14. "Cherry Bekaert Triangle best Plast to work". www.bizjournals.com. Retrieved June 24, 2021.
  15. "Best Places to Work finalists announced by TBBJ". www.bizjournals.com. Retrieved June 24, 2021.
  16. "Icimo Analytics by Cherry Bekaert recognized by Tableau Software". Cherry Bekaert. Retrieved February 8, 2021.
  17. "Cherry Bekaert Digital Advisory Recognized as 2021 Most Promising Data Visualization Service Company". Cherry Bekaert. Retrieved July 18, 2022.
  18. "Cherry Bekaert Awarded 'Due Diligence & Valuation Firm of the Year' Award". Cherry Bekaert. Retrieved July 18, 2022.
  19. Ebeling, Ashlea (December 2, 2021). "America's Best Tax And Accounting Firms 2022". Forbes. Retrieved July 19, 2022.
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