Spokane Journal of Business

HMA CPA acquires practice, moves to larger downtown space

Buying firms from retiring accountants is part of strategy, partners say

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-—Karina Elias
HMA CPA’s principals are, from left to right, Kevin Sell, Kristi Bushnell, Mike Whitmore, and Laura Hays. The firm was established in 1983 and has 35 employees.

Spokane-based accounting firm HMA CPA PS has moved to a larger location and has acquired its fifth accounting practice over a six-year span, says Mike Whitmore, shareholder at HMA CPA.

“It’s been a big part of our growth strategy, not just organic growth but also helping practitioners who are near retirement who want to transition out and make sure their clients go to a good place,” he says.

The firm acquired Eva M. Weisenburger CPA PC, of Spokane, along with its clients on Nov. 1, says HMA shareholder Kevin Sell.

He declines to disclose the terms of the acquisition.

Weisenburger currently is working on a retirement track, and her clients will be distributed to younger employees, he says. HMA CPA also hired one of Weisenburger’s employees.

HMA CPA was established in 1983 and has 35 employees. The firm occupies 10,000 square feet of office space on the 10th floor of the former Wells Fargo building, at 601 W. First, having moved there recently from 5,000 square feet of space in the Cutter Tower, at 510 W. Riverside.

The firm hired Angie Cashen, principal at Spokane-based DS Studio, to design the new office. Yost Gallagher Construction LLC, of Spokane, was the contractor on the project.

The new office space was remodeled to create a sense of community in the office, says Whitmore. Design elements include bean bags and low ceilings that facilitate natural light.

“It’s ‘resimercial’ design that bridges the gap between work environment and living room,” says Whitmore.

Moving forward, Whitmore says HMA CPA will continue to acquire firms as part of its business model.

“As long as there are individuals retiring who need a good place to exit their clients, we want to provide that resource to the community and practitioners,” says Whitmore.

 

 

 

Karina Elias
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Reporter Karina Elias covers the banking and finance industry. A California native, she attended the University of California at Santa Barbara. Karina loves salsa dancing, traveling, baking, cuddling with her dog, and writing creative fiction and non-fiction.  

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