This post has been updated with comments from David Bundy. Correction appended.
Tis the season of mergers and acquisitions.
Lexington-based Dean Dorton Allen Ford, more commonly referred to as just Dean Dorton, announced Thursday that it’s acquiring the full-service consulting firm Massey Consulting, based in Raleigh, N.C. The merger is effective Jan. 1.
The news follows three merger and acquisition announcements involving Louisville companies in the past few weeks. While Dean Dorton is headquartered in Lexington, it has a significant presence in Louisville with roughly 100 employees here.
The firm’s president and CEO David Bundy told Insider Thursday afternoon that Dean Dorton is absorbing Massey Consulting and its 10 to 15 employees. Massey Consulting’s president, Philip Massey, will lead the software division of Dean Dorton.
With the acquisition as well as some other hires coming on in January, Dean Dorton will employ more than 275 people. Bundy declined to disclose the financial details fo the deal.
Dean Dorton offers a suite of services including auditing, taxes, business management, consulting and technology solutions. It also recently expanded to add Dean Dorton Wealth Management and
Bundy said both companies worked with the cloud accounting software business Sage Intacct and roughly a year ago started talking.
“We wanted to look at new geographic markets,” Bundy said, adding that acquiring an established business in Raleigh made sense.
In a news release, Bundy noted the timing and its strategy of expanding nationally.
“Merging with Massey Consulting increases our robust accounting software solutions team and provides an opportunity to serve clients in a broader regional area as well as expanding our capabilities nationally,” Bundy stated. “We continue to stay true to our culture, which is to pursue opportunities for mergers only if the fit is right for our team members, our clients and the timing makes sense for the firm.”
“As we continue to see higher-than-average organic growth year over year, we recognize that our presence is no longer regional but growing rapidly as a nationally recognized firm,” he continued.
Bundy told Insider that he expects to see 8 percent to 10 percent growth next year as a result of the acquisition, the addition of new services and growth of longtime services. He also credited the good economy and workplace environment.
“We believe strongly in our culture, and we do a lot of work around that so we hire the right people. We train them the right way. I think we have a unique approach in the market,” Bundy said, also noting: “Everything we do is in response to the market, in response to what the clients need.”
According to the release, Massey Consulting will join Dean Dorton’s technology consulting business and expand its accounting software and expertise.
“With the combination of developing client needs and continuous growth, it was critical for us to find a way to continue providing high-quality service while providing clients with additional value through a broader range of specialty capabilities, advice
Dean Dorton was created in 2011 when the accounting firms Dean Dorton Ford and Cotton+Allen merged. Massey Consulting was founded in 2003.
Among the companies announcing a merger or acquisition recently are the wealth management firm Hilliard Lyons, which is merging with Baird; the gas station and convenience store company Thorntons, which is being acquired; and BrightSpring Health Services and PharMerica, which are merging.
Correction: A previous version of this story incorrectly stated where Dean Dorton is headquartered. It is based out of Lexington but has a significant presence in Louisville.