M&A roundup: Crete and Mercer expand

Crete Professionals Alliance, a Tampa, Florida-based accounting and advisory network, has expanded to Hawaii with its 30th partner firm, Accuity, based in Honolulu.

The deal marks a major milestone for Crete with its first expansion beyond the continental U.S. In the past 27 months, Crete has brought together more than 30 firms. Crete is backed by Thrive Capital, ZBS Partners and Bessemer Venture Partners.

Financial terms of the deal were not disclosed. Crete ranked No. 36 on Accounting Today‘s 2025 list of the Top 100 Firms, with $233.8 million in revenue, approximately 93 partners and 900 employees.

“Crete was built on the belief that firms with deep local relationships can unlock extraordinary growth when they have access to modern tools, data, and scale,” said Crete CEO Steve Stagner in a statement Wednesday. “Accuity has earned a trusted reputation across Hawaii by understanding the fabric of its business community. Their partnership with Crete will only amplify their ability to serve clients while preserving the local values that make them unique.”

By joining Crete, Accuity will strengthen Crete’s expanding Western region. “This partnership represents a bold investment in Hawaii’s future,” said Accuity CEO Cory Kubota in a statement. “Crete’s platform gives us access to advanced technology, national resources, and a network of forward-thinking peers, while allowing us to stay true to who we are. We’ll continue to nurture the next generation of Hawaii business leaders and deliver the exceptional service our clients have always known us for.”

As part of Crete Professionals Alliance, Accuity will retain its local leadership and brand while gaining access to a national network of over 30 accounting and advisory firms; corporate services in HR, finance, legal and IT; AI-powered tools and automation solutions; global delivery teams in India and the Philippines; and growth operations, recruiting and future M&A support.

Koltin Consulting Group advised both firms on the partnership, “Accuity’s decision to take on a capital partner is one of the most significant moves we’ve seen in the Hawaii accounting market,” said Koltin Consulting Group CEO Allan Koltin in a statement. “It speaks volumes about both their leadership and the changing dynamics of the profession. Accuity is a prominent firm in the state, deeply respected for its reputation, culture, and long-standing client relationships. For them to choose Crete as their partner says everything about Crete’s vision, innovation, and alignment with what the firm of the future should look like. This is a transformative moment for both the Hawaii business community and the broader accounting industry.”

In August, Crete added Cabrillo Advisors, a San Diego, California-based provider of valuation and financial advisory services. Earlier this year, Crete was named one of the 25 Fastest-Growing Firms by Accounting Today and announced plans to spend $500 million to buy firms while upgrading them with artificial intelligence technology. Last year, Crete added Reid Tax & Advisory Services LLC, a firm with offices in Long Island, New York City, and Boca Raton, Florida.  Other firms that have joined since 2023 include RRBB Accountants and Advisors in Somerset, New Jersey; Mendonca Partners in Union, New Jersey; Skwiersky, Alpert & Bressler LLP in New York City; AbitOs in Coral Gables, Florida; and Savastano, Kaufman & Co. in Fair Lawn, New Jersey.