M&A roundup: Adams Brown, Doeren Mayhew and VSCPA expand

Adams Brown, a Regional Leader based in Wichita, Kansas, has expanded its footprint across its home state by merging with VonFeldt, Bauer & VonFeldt, a firm with offices in Manhattan and Larned, effective Nov. 1. 

The deal will bring the firm’s total number of offices to 12 in Kansas and two in Arkansas.

As part of the deal, all 16 of the VonFeldt teammates will join Adams Brown’s existing team of 336. VonFeldt’s entire leadership team, including Aaron VonFeldt, Houston Pierce, Aaron Koehn, Sarah Johnson, and Kathy Couchman will join Adams Brown in similar leadership roles. Financial terms of the deal were not disclosed. Adams Brown’s annual revenue is $43 million, while VBV’s annual revenue is $2.5 million.

“We knew we wanted to have a presence in Manhattan, and further strengthen our position in central Kansas,” said Adams Brown managing partner and CEO Ben Wilson in a statement Wednesday. “As soon as I met the VBV leadership team, I knew they’d be a great fit for us. Their experience, local roots and shared values resonate greatly with our firm, and we couldn’t be more excited to welcome them to the team.” 

VBV dates back more than 40 years, and its client base overlaps with many of Adams Brown’s industry specialties, including agriculture, construction, health care, municipalities, manufacturing and closely held business. 

“We’re excited about the growth and specialization opportunities our teammates now have as part of a larger firm,” said VonFeldt in a statement. “Together, we have a unified vision of going above+beyond to enhance the success of both our team and clients.” 

“There is a lot of synergy between our firms,” said Pierce. “Over the years, other firms have contacted us about a possible merger, and we always said ‘no.’ We were drawn to Adams Brown’s holistic service model and dedication and commitment to serving Kansas communities and local businesses.” 

The combination also gives Kansas State University students the chance to work at Adams Brown without having to move to a larger metropolitan area. 

In July, Adams Brown acquired The Technology Specialist Inc., also based in Wichita, and formed Adams Brown Technology Specialists. Adams Brown previously acquired Fortner & Short, also based in Wichita, in 2021.