Top 25 Firm Ascend today acquired Montgomery, Alabama-based Jackson Thornton.
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Jackson Thornton is an Accounting Today Gulf Coast Regional Leader, with six offices across the state and over $41 million revenue. The deal adds 30 partners and over 160 employees to Ascend. Terms of the deal were not disclosed.
“Jackson Thornton’s reputation is grounded in its multidisciplinary expertise and the depth of talent that has made it so,” Ascend president Nishaad Ruparel said in a statement. “For some time now, the firm has been stretching its roots across Alabama and toward the integrated service delivery of accounting, wealth and advisory — we can make much of that vision, together.”
Ascend, based in Arlington, Virginia, was launched three years ago by private equity firm Alpine Investors. It works with accounting firms with between $15 million and $50 million in revenue. As is common with these types of private equity deals, Jackson Thornton will adopt an alternative practice structure, separating its attest and non-attest practices.
“The pace of change in our profession has never been faster, and we believe now is the right moment to partner with Ascend — an organization that shares our entrepreneurial mindset and people-first philosophy,” Jackson Thornton CEO Alan Alexander said in a statement. “This partnership allows us to remain independent and locally led, while giving our clients access to deeper resources, enhanced technology and broader expertise that will strengthen the services on which they rely every day. It also creates meaningful opportunities for our team — expanding services, driving efficiency and enabling shared ownership — so that Jackson Thornton remains a place where talented professionals build long, rewarding careers.”
Jackson Thornton is a full-service accounting and advisory firm founded in 1919, with specialties in industries like auto dealerships, construction, health care, government, manufacturing, not-for-profit organizations and telecommunications.
“This is the kind of firm we created Ascend to partner with,” David Wurtzbacher, founder and CEO of Ascend, said in a statement. “They have spent generations earning the trust of families and businesses in their market, and along the way, they have built a $2 billion wealth management franchise that very few firms in the country can match. We are honored to help them carry their unique momentum forward.”
Ascend ranked No. 24 on Accounting Today‘s 2026 Top 100 Firms list. It reported $590 million in revenue, with 282 partners and over 2,600 employees across 63 offices.
Since its launch, it has made numerous investments. At the beginning of the year, Ascend added
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