- Clark Schaefer Hackett acquires Strategic HR Inc.
- Deal amount of the acquisition is not disclosed
- The acquisition will be in effect from May 1, 2021
- Strategic HR Inc. plans to maintain its name in three locations
CSH or Clark Schaefer Hackett, the Top 100 Firm based out of Cincinnati, recently got candid about taking over Strategic HR Inc. Strategic HR is an enterprise that focuses on delivering human resources outsourcing solutions, with effect from May 1, 2021.
The financial details of the deal were not disclosed.
Strategic HR Inc. offers dedicated HR support to enterprises with a small HR function and overwhelming needs and the ones with the absence of their own HR department. Established in 1995, the company with 25 plus years of experience is led by President Robin Throckmorton. Moving ahead, the company will strengthen CSH’s growth spectrum of outsourcing services.
CSH operates with a 492-employee strong team, out of which 198 are CPAs (Certified Public Accountants), 45 shareholders, and 71 staff members. Strategic HR will make an addition of 24 staff members and one new shareholder to the CSH hierarchy.
On the business front, the accounting firms seem to be on an acquisition spree this year, after experiencing a relatively slow year for mergers and acquisition (M and amp;A) deals in 2020 because of the pandemic.
On a positive note, the M and amp;A activity began to pace up midway last year and into this year. Technically, CSH is the fourth deal to be announced among the Top 100 Firms since the last week of April.
CSH and Strategic HR Inc., update
CSH is intensifying its outsourcing services with its recent M and amp;A deals. Prior to Strategic HR Inc., the firm bought Business Management Resources in February 2020 and Keelsra in December 2019. Both these firms are involved in offering specialized outsourced accounting services.
Strategic HR Inc. has decided to maintain its name and three business locations in Louisville, Cincinnati, and Dayton. The company also made it the Best Places to Work Finalist from 2015–20, listed in the Inc. 5000 Fastest Growing Companies in America in 2017 and 2019.
Strategic HR was awarded as the Women-Owned Business of the year in 2019 by Clermont County Chamber. In 2020, the company was named an Ohio Success Awards Winner and bagged several other rewards and honors.
The experts’ take
CSH made it to the 63rd position on Accounting Today’s 202 lists of the Top 100 Firms, with an impressive annual revenue of USD 78.03 million.
In a statement on May 3, 2021, CSH President Kerry Roe said, “The addition of the talented team from strategic HR enhances our ability to provide high-quality human resources, training and recruiting services to clients.”
He added, “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.”
Strategic HR Inc., President Throckmorton said in a statement said, “We are excited about the dynamic future of Strategic HR and CSH.”
He added, “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.”