Landmark, Garland & Greenwood merge CPA operations

A “combined operations” between the Little Rock-based accounting firms of Landmark CPAs and Garland & Greenwood CPAs will create a company with more than 200 employees in Arkansas and 16 in Arizona. The deal is set to be effective Jan. 1, 2025.

The two firms announced Monday (Sept. 9) the merger that is a “cultural fit” and will help the two companies better meet the demands of existing clients and allow for the capacity to handle new customers, according to Rachael McGrew, Landmark’s business development director.

Garland & Greenwood partners John Brock, Jake Froemsdorf, Rocky Goodman, and Greg Schichtl, along with 36 employees, will join Landmark CPAs.

The leadership will be Landmark co-managing members Randy Milligan and Josh Masters. Because the deal is more of a “combined operations,” there is not a purchase price to report, McGrew said.

“We are excited to welcome the Garland & Greenwood team into the Landmark CPAs family,” Milligan said in the merger announcement. “This merger allows us to build on our shared commitment to delivering exceptional service and innovative solutions to our clients. Together, we are stronger, and we look forward to the many opportunities this merger will bring for both our staff and our clients.”

Landmark will now have Arkansas offices in Conway, Jonesboro, Little Rock, Rogers, and Russellville. Garland & Greenwood has an office in Bentonville, but at some point that office will move to Rogers, McGrew said. The Conway office is set to open in December, she said.

The company’s Arizona office is in the Phoenix area. Landmark in 2021 acquired the Arizona accounting and wealth management firm Monheit Frisch.

“Joining forces with Landmark CPAs is a tremendous opportunity for our firm,” Goodman said in the announcement. “We have long admired Landmark’s dedication to excellence and client service, and we are thrilled to become part of a team that shares our values. This merger enables us to provide even greater resources and expertise to our clients.”

McGrew said she is not aware of any future mergers or acquisitions, but said company leaders “always keep their eyes and ears open” for a cultural fit that makes sense.

Landmark is one of Arkansas’ largest privately-owned public accounting firms with services that include advisory, accounting and tax services. Landmark emerged from Fort Smith-based Beall Barclay, an announcing firm founded in 1963 and in the 1990s acquired Rogers-based Barclay. The company rebranded as Landmark in October 2018.