Clark Schaefer Hackett, a Top 100 Firm based in Cincinnati, has acquired Strategic HR Inc., a human resources outsourcing firm also based there, effective May 1.
Strategic HR provides dedicated HR support to organizations that lack their own HR department or have a small HR function with overflowing needs. Founded in 1995 and led by president Robin Throckmorton, the company will bolster CSH’s growing array of outsourcing services. The financial terms of the deal were not disclosed. CSH has 492 employees, including 198 CPAs, 45 shareholders, and 71 staff members. Strategic HR will add 24 more staff and one new shareholder to CSH’s ranks.
Accounting firms have been on an acquisition spree this year after a relatively light year for M&A deals in 2020 due to the pandemic. M&A activity began picking up midway through last year and into this year, and CSH is the fourth deal to be announced among the Top 100 Firms since last week.
CSH ranked 63rd on Accounting Today’s 202 lists of the Top 100 Firms with $78.03 million in annual revenue. “The addition of the talented team from strategic HR enhances our ability to provide high-quality human resources, training, and recruiting services to clients,” said CSH President Kerry Roe in a statement Monday. “The pairing of managed services in both accounting and human resources will provide a compelling comprehensive solution for small and medium-sized organizations that wish to focus on growing their business while receiving exceptional business support.”
CSH has been expanding its outsourcing services with its recent M&A deals. The firm acquired Business Management Resources in February 2020 and Keelsra in December 2019. Both companies offer specialized outsourced accounting services.
Strategic HR Inc. plans to maintain its name and three business locations in Cincinnati, Dayton, and Louisville. The company was named the Best Places to Work Finalist from 2015-20, listed in the Inc. 5000 Fastest Growing Companies in America in both 2017 and 2019, awarded the Woman-Owned Business of the Year in 2019 from the Clermont County Chamber, named as an Ohio Success Awards Winner in 2020, and has received several other honors.
“We are excited about the dynamic future of Strategic HR and CSH,” Throckmorton said in a statement. “When I started this company, I wanted to connect with and support HR professionals and business owners by drawing on my industry experience. I love working with my clients to design custom solutions, and CSH does identical work as a business advisor. Together, we will be able to provide more services and educational opportunities to our clients, and more experiences for our talented associates.”