LBMC, recognized as one of the nation’s top 40 accounting and business consulting firms, has announced a strategic expansion by merging with Frazee Ivy Davis, a Memphis-based accounting firm. This merger, effective December 2, will enhance LBMC’s presence in Tennessee and broaden its service offerings in the southeastern United States.
With the addition of Frazee Ivy Davis, LBMC will incorporate five new shareholders, increasing its professional team to a total of 35 staff members. This expansion will result in LBMC operating from six locations with over 900 team members across 30 states, serving over 11,000 clients nationally.
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Jim Meade, CEO and Managing Shareholder of LBMC, expressed the significance of this expansion, stating, “Memphis, as Tennessee’s second-largest metro area, has always been a vital region for us, with more than 160 clients already in the city. This merger solidifies our standing as the largest professional services firm in Tennessee and the third largest in the Southeast.”
Frazee Ivy Davis, known for its strong audit, tax, and accounting services, will bolster LBMC’s expertise, particularly in advisory growth areas. The firm has long-standing relationships with clients in sectors such as healthcare, manufacturing, logistics, hospitality, and real estate, offering tailored solutions to meet their needs.
Meade highlighted Memphis’s strategic benefits, noting its robust logistics hub, vibrant entrepreneurial ecosystem, and access to top talent from regional universities. These factors align with LBMC’s vision for innovation and growth.
The merger will also introduce enhanced advisory services to the Memphis market, including human resources, technology solutions, staffing/recruitment, cybersecurity, consulting/business intelligence, wealth advisory, and procurement services. Healthcare comprises 40% of LBMC’s business, alongside sectors such as manufacturing, real estate, and technology.
This merger follows LBMC’s previous expansion into Louisville, Kentucky, and aligns with its 2024 strategic plans for talent acquisition and new service line expansions, including Revenue Cycle Management, Consulting and Business Intelligence, and Family Law Support Services.
John Ivy, President of Frazee Ivy Davis, expressed enthusiasm for the partnership, stating, “Joining LBMC allows us to tap into a nationally recognized team with complementary strengths and aligned core values. Our clients will benefit from a broader range of expertise and scalable solutions, positioning them for growth and offering expanded opportunities for our team.”
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