Mauldin & Jenkins snaps up Plush Smith

Mauldin & Jenkins has acquired Florida-based accounting and consulting firm Plush Smith PA for an undisclosed sum.

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Through the transaction, the buyer will increase its office locations to nine across the southeast US.

Sarasota-headquartered Plush Smith provides tax, financial reporting and consulting services for individuals, fiduciaries, commercial and other business organisations.

The firm prepares federal and state tax returns of all types, including income, estate and gift taxes.

Alongside its core operations, Plush Smith offers part time financial management operations and helps clients when buying or selling businesses.

The group also carries out estate planning and elder care services.

Founded in 2011 by Carla Plush Smith and Peter Smith, the target’s senior people are members of numerous financial institutions, including the American Institute of Certified Public Accountants.

Wade Sansbury, a partner at Mauldin & Jenkins, said: “We are very excited about this acquisition and increasing our firm’s presence in the growing Sarasota market.

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“Plush Smith’s reputation for excellent client service aligns well with our firm’s core values and mission.”

Mauldin & Jenkins provides assurance, tax and advisory services to customers throughout the southeast US.

The firm has a history dating back to 1918 and operates offices in Florida, Alabama, Georgia and South Carolina.

Mauldin & Jenkins employs over 300 people and serves clients across the healthcare, banking and film and entertainment industries, among others.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 127 deals targeting accounting, tax preparation, bookkeeping and payroll services providers announced worldwide since the start of 2020.

AnaCap Financial Partners acquired Spain-based Gestion Tributaria Territorial for EUR 120.00 million in the most valuable of these.

In the second-largest transaction, K3 Capital Group snapped up Quantuma Advisory for GBP 41.95 million.

SourceHOV Tax, Talenom and Axington were also among the companies targeted in this sector so far this year.

© Zephus Ltd

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