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Ascend expands in Southern California with LevitZacks deal

March 16, 2024
in Accounting
Reading Time: 7 mins read
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Ascend expands in Southern California with LevitZacks deal
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Victor Ramsauer of LevitZacks

Private-equity backed accounting platform Ascend has added San Diego-based CPA firm LevitZacks to its network of members.

Ascend acquires the nonattest parts of entrepreneurial middle-market firms in the U.S., and then supports their growth with capital and a growing list of other resources in areas such as leadership development, talent acquisition and technology.

As part of the deal, which took effect March 1, LevitZacks will adopt the alternative practice structure that is common with private equity, reorganizing itself into two entities: LevitZacks Corp., which will provide tax, advisory and non-attest services, and LevitZacks CPAs, an independent CPA firm.

Terms of the deal were not disclosed, but it will add nine partners and 51 staff to the Ascend team.

Victor Ramsauer of LevitZacks

Victor Ramsauer of LevitZacks

“The Ascend model is very appealing to a large local firm with a strong community presence and a desire to stay independent and grow,” said LevitZacks’ CEO, Victor Ramsauer, and COO, Sue Watson, in a statement Friday. “We expect our growth rate to increase now that we will have resources to assist us in this path. 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.”

Sue Watson of LevitZacks

Sue Watson of LevitZacks

Founded in 1964, LevitZacks provides tax, accounting and business advisory services across a wide range of industries. It has regularly been featured in Accounting Today’s Best Firms to Work For ranking, including being ranked the No. 1 Small Firm in the country for two years running.

“Victor Ramsauer and Sue Watson exude a ‘PeopleFirst’ ethos, and it is evident in LevitZacks’ industry-leading culture,” said Ascend founder and CEO David Wurtzbacher, in a statement. “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.”

Ascend ranked No. 59 on Accounting Today‘s recently released 2024 list of the Top 100 Firms in the country, with $126 million in revenue. Starting at the beginning of 2023, it made a rapid series of investments, including Opsahl Dawson in Vancouver, Washington, in January 2023; ATKG in San Antonio, in May; LMC in New York City in June; Sentient Solutions for Accounting, an offshore services provider in India and Mexico, in July; Goering & Granatino in Overland Park, Kansas, in October; and Atlanta’s Wilson Lewis in November.

2023 Best Firms - LevitZacks

LevitZacks staff during a firm outing

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