The combined firm will have 32 partners, 125 CPAs and approximately 322 employees, and the two firms will consolidate under the name BMSS, LLC. Together with Haddox Reid, the combined revenue for BMSS LLC will be $63.7 million and the firm expects to land in the upper 80th placement on national rankings of accounting firms. Ridgeland added seven partners, 35 staff and $9 million in revenue to BMSS, which had $47.4 million when it reached No. 8 on Accounting Today‘s Regional Leaders list for the Top Firms in the Gulf Coast region.
“As co-members in the BDO Alliance USA, our leadership team has developed a strong relationship with Haddox Reid over the years,” said BMSS managing member Don Murphy in a statement. “Through our time together, we have come to see how we both reflect and complement our respective firm’s culture, values and focus on an exceptional client experience. Our combined firms will provide opportunities for our employees, widen our client base, and expand the industries we serve.”
BMSS Advisors & CPAs was established in 1991 by Keith Barfield, Don Murphy, and John Shank and has since grown into one of the Southeast’s top advisory and accounting firms with five offices in three cities throughout Alabama: Birmingham (Colonnade, downtown and Riverchase), Gadsden and Huntsville. Haddox Reid’s office will create the first BMSS location outside Alabama.
The firm specializes in several industries, including manufacturing, wholesale distribution, construction, technology, nonprofit and government contracting. In addition to tax planning and compliance and assurance services the firm boasts a robust business advisory practice area which includes transaction advisory, valuation, client accounting solutions, and CFO advisory services. BMSS also specializes in state and local tax, estate planning and employee benefit plan audits. The merger with Haddox Reid will bring specialization in the oil and gas industry while adding additional clients to the current industries BMSS serves.
BMSS is an independent member of the BDO Alliance USA, and Don Murphy has participated in a BDO managing partner roundtable with Haddox Reid’s managing partner, Mike Gladney, for years.
“For many years, we have witnessed, admired and respected how BMSS has taken care of its people and its clients,” said Gladney in a statement. “Its culture and primary mission mirrors ours. With our complementary skill sets and future goals, it just makes sense to bring the two firms together.”
BMSS, formerly known as Barfield, Murphy, Shank & Smith, expanded in Alabama in 2018 by merging in Hindsman PC, a Gadsden-based CPA firm, and Hall Albright Garrison & Barnes in Huntsville.
