Acquiring and accounting firm, anyone with experience in Canada or the US?

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December 10, 2023

by a searcher from Växjö University in Toronto, ON, Canada

I've run into 2 accounting firms for sale, one in Canada ($2MM revenue) and one in the US ($3MM revenue) that I am considering. I live in Canada but has spent my career with US firms.

In a prior life I built a tax accounting firm from 0 to $2MM in revenue in 2 markets (Singapore and Australia)

I've been in financial services (CPA, financial data, fund management) in a HO Sales and COO capacity for close to a decade.

Hence would love to learn the key difference in client acquisition and management, staffing, profitability, and killer red flag differences for each market.

Any recommendations or chats would be super helpful.

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Reply by a searcher
from Millersville University of Pennsylvania in Washington Township, NJ, USA
^redacted‌ - While much smaller than the deals your looking at, I acquired my firm back in April 2023 and am currently under LOI on a second, that I expect to closer early Q1 of###-###-#### There's also ^redacted‌ and ^redacted‌ who have acquired firms and can maybe chime in.
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Reply by a searcher
from University of Denver in Boston, MA, USA
It's a great category for searchers - recession resistant, lots of demand, recurring revenue. The challenges are purchase prices of good, modern firms being high and hiring is never ending. But still happy to be in the space. Listen to the acquiring minds podcast I did (it'll save us lots of time), then happy to jump on a call. My email is redacted
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