Raleigh, N.C.-based IPA 100 firm Cherry Bekaert (FY24 net revenue of $658 million) has announced its intent to acquire Reading, Pa.-based Herbein + Company Inc. (FY24 net revenue of $60.2 million) a CPA advisory firm providing tax, audit, advisory, HR consulting and risk management services. The transaction is expected to close later this month.

The deal marks Cherry Bekaert’s entry into Pennsylvania and further expands the firm’s reach across the northeastern, mid-Atlantic and midwestern regions. Herbein also operates offices in Delaware and New Jersey. The firm brings specialized experience in agribusiness, construction, financial institutions, manufacturing, higher education and government industries.

“This acquisition not only expands our geographical reach into Pennsylvania but also enhances our service offerings across key industries,” said Michelle Thompson, CEO of Cherry Bekaert Advisory LLC. “Herbein’s client-centric approach aligns well with our firm’s values and strategic objectives. Together, we look forward to driving greater value for our clients and strengthening our regional presence.”

David Stonesifer, partner and CEO of Herbein, added, “We are excited for this new chapter with Cherry Bekaert. Our clients will benefit from an expanded suite of offerings while still receiving the same level of service they have come to expect from Herbein.”

As part of the transaction, Cherry Bekaert Advisory LLC will acquire Herbein’s nonattest assets, while Cherry Bekaert LLP will acquire its attest assets. Both firms will operate under the Cherry Bekaert brand following integration.