Monday, September 10, 2018

Cherry Bekaert Grows Transaction Advisory Capabilities with Acquisition of CTS Capital Advisors

Baker Tilly International member firm Cherry Bekaert LLP (Richmond, Virginia, USA), a growth-oriented, nationally-recognised public accounting and consulting firm, is pleased to announce it has acquired CTS Capital Advisors, LLC (CTS). This strategic move further develops and expands the firm’s transaction advisory and valuation practices and broadens its service reach with private equity funds, senior and mezzanine lenders, and strategic buyers and sellers across the country.

The addition of CTS brings the resources of 25 experienced due diligence and valuation professionals to Cherry Bekaert, greatly expanding the firm’s capacity and adding capabilities to serve complex global transactions in the areas of mergers and acquisitions, quality of earnings engagements, carve-outs, restructurings, integrations and assistance with working capital.

Co-founder and managing member of CTS and incoming principal with Chery Bekaert, Jeff Bengtson said: “The cultural fit and shared growth vision made Cherry Bekaert an ideal match for CTS. The combined service capabilities platform and national reach will greatly benefit our professionals and offer additional value to our clients”.

“We are excited to join forces with Cherry Bekaert to accelerate the expansion of our national transaction advisory and valuation practice,” noted Sean Geoghan, an incoming principal with Cherry Bekaert and former co-founder of CTS. “The added specialty resources in the areas of IT due diligence, cybersecurity and transaction tax, and a deeper bench of transaction and valuation talent will allow us to broaden our geographic reach and grow our private equity relationships and practice focus across the US”.

“The demand for our transaction advisory and valuation services continues to grow,” said Scott M. Moss, managing partner of advisory services for Cherry Bekaert. “The leadership of Jeff and Sean, along with the talent and experience we are bringing in with the CTS professionals, will allow us to meet this demand and expand our service capabilities in the areas of financial due diligence, global transaction advisory, valuation, and mergers and acquisitions consulting.”

Founded in 2003, CTS is a boutique transaction advisory firm specializing in buy- and sell-side due diligence, valuation, CFO outsourcing and business advisory services. Having advised on more than 500 deals with more than US$13bn in transaction value, CTS professionals bring a broad spectrum of former Big Four accounting, investment banking and deal experience with industry expertise involving the technology, life science, industrial, transportation and logistics, government contracting and private equity sectors.

Three professionals from CTS are joining Cherry Bekaert as principals: Jeffrey Bengtson, Sean Geoghan and Sidney Glick. Additionally, Jeff Bengtson, former co-founder and managing member of CTS, has been named the national leader of the firm’s Transaction Advisory Services practice.

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