Little Rock accounting firm Hudson, Cisne & Co. LLP announced Wednesday (Aug. 16) the acquisition of Newton, Owen, Boyd & Smoke LTD, previously based in Pine Bluff.
Financial terms of the deal were not disclosed.
The merger will create a “state-wide network” for Hudson, Cisne & Co., according a news release. Newton, Owen, Boyd & Smoke had recently completed a consolidation of its two Jefferson County offices into one location in White Hall. The company also opened an office in Rogers in 2015.
The two offices will operate as Hudson, Cisne & Co going forward. The Little Rock office of Hudson, Cisne & Co. will continue to operate at the same location and serve as the firm’s main headquarters.
There are no planned layoffs, according to the release. The firm now has nearly 60 staff members and 32 CPAs. The leadership team has grown to have six partners, ensuring joint representation of both organizations.
“The joining of these two successful Arkansas businesses is a natural partnership that allows our firm to offer a greater diversity of services to clients,” said Karen Garrett, a partner of Hudson, Cisne & Co., said in the release. “Utilizing the skill sets of each firm’s team, we are excited to continue growing.”
After the acquisition, the new firm now provides clients with accounting, tax, management consulting, retirement plan administration and business valuations services, as well as payroll, sales tax, QuickBooks and outsourced accounting services.
Hudson, Cisne & Co. was established 30 years ago.