Offered Exclusively Through Keate Partners

 

ACQUISITION OPPORTUNITY S-1721

Accounting Practice (CPA)

This well-established Cincinnati based professional services firm serves small business clients and individuals.  The firm serves over 225 small business clients and over 600 individuals with a broad range of professional services, including traditional financial statement preparation and tax work, along with many business advisory services that include complex tax negotiation and offer in compromise work, new business consultations, payroll tax applications, bankruptcy accounting, cafeteria plan administration, computer technology training and assistance, and a full complement of related services.  

The firm’s full-time staff includes two CPA’s, an accounting and tax supervisor, a junior accountant and three administrative personnel.  The firm derives its revenues from approximately 47% tax, no audits, 23% compilation and review, 25% from consulting and advisory services.  During this firm’s recent five year history, average billings have grown 10% to 20% per year, and 2001 revenues are projected at $450,000 to $475,000.

 HIGHLIGHTS:

  • Long established and well diversified CPA practice.
  • Broad range of business clients and individuals.  The top 25 clients account for less than 32% of the Firm’s overall revenues.
  • Consistent growth through referrals from existing clients and expansion of business advisory services.
  • The acquisition of this practice by an experienced CPA or the merger of the Firm into an established practice will provide an ongoing revenue stream and the opportunity to grow the business through increased billings.
  • After twenty-eight years in public accounting, the owner has decided to retire and pursue a non-competing business venture.

 PURCHASE PRICE:

This CPA practice is available as an asset purchase free and clear of debt and all liabilities for $495,000.  Terms are $250,000 cash at closing, plus $245,000 seller financing based on client retention. 

ASSETS INCLUDED IN THE SALE:

                Furniture, Fixtures and Equipment (Cost)                     $  80,000

                Accounts Receivable & Work-In-Progress                   $  75,000

                Client List, Trade Name, Goodwill                                 $340,000

                                                TOTAL                                             $495,000

FINANCIAL SUMMARY:  

 

2001E  

2000  

1999  

1998  

Billings

$450,000- 475,000

$398,000 $371,000 $304,000
ACF 125,000 111,000 82,000 99,000

ACF (Adjusted Cash Flow) is the pretax cash flow of the company prior to expenses of seller’s salary, depreciation, and certain seller discretionary expenses that will be eliminated upon the sale of the business.

FOR FURTHER INFORMATION CONTACT KEATE PARTNERS (513) 241-3700