Ascend Adds LevitZacks to Growth Platform
MARCH 15, 2024 (Arlington, VA) – Ascend, a strategic partner for regional accounting firms backed by private equity firm Alpine Investors, today announced its third transaction of 2024, adding the advisory practice of LevitZacks of San Diego, CA, to its new-age growth platform.
Terms of the deal, which took effect March 1, were not disclosed.
As is common in private equity deals with CPA firms, LevitZacks has adopted an alternative practice structure under which LevitZacks Corporation, affiliated with Ascend, will provide tax, business advisory and other non-attest services, and attest services will be provided by a separate newly established, independently owned and licensed CPA firm, LevitZacks CPAs, LLP.
"Victor Ramsauer and Sue Watson exude a PeopleFirst ethos, and it is evident in LevitZacks' industry-leading culture. For 60 years, LevitZacks has served their clients, staff and community whole-heartedly, and I am thrilled Ascend can help add another 60 years to that legacy," said Ascend Founder & CEO David Wurtzbacher, one of Accounting Today’s 2023 Top 100 Most Influential People in Accounting.
“The Ascend model is very appealing to a large local firm with a strong community presence and a desire to stay independent and grow. We expect our growth rate to increase now that we will have resources to assist us in this path,” said Victor G. Ramsauer, LevitZacks CEO, and Sue Watson, LevitZacks COO. “We pride ourselves on fostering an exceptional culture of open communication, mutual respect, and a realistic work-life balance. Our employees’ contribution to this culture is without a doubt the reason LevitZacks has been consistently recognized as one of the best places to work regionally and in the national accounting industry for 12 of the last 13 years.”
LevitZacks adds 9 partners and 51 staff to the Ascend team.
Since 1964, LevitZacks has provided comprehensive tax, accounting and other business advisory services to clients in a broad range of industries. The firm has been consistently ranked a top place to work by Accounting Today and the San Diego Business Journal and noted for its exceptional service culture, reflected in well-above average rates of client satisfaction and shareholder engagement, and the highest ratio of CPAs to professional staff among the top 25 CPA firms in the county.
About Ascend
Ascend empowers entrepreneurial CPAs to reach their goals with an innovative growth model that brings their firms into the new age. Backed by private equity from people-focused Alpine Investors, Ascend is building a modern platform for regional accounting firms that enables them to stay independent while accessing the resources of a large CPA firm to help them grow. Ascend provides access to growth capital, robust talent acquisition, best-of-breed technology, a catalytic leadership system, shared back-office services, and modernized equity incentives so that firms can surmount today’s industry challenges and reach their full potential. Founded in January 2023, in its first year of operation Ascend was ranked 59 on Accounting Today’s list of Top 100 Firms.
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Contact:
Julie Gross Gelfand
(516) 729-8067