M&A roundup: HBK and SD Mayer expand

SD Mayer & Associates LLP, a firm based in San Francisco, is adding Bogdan & Frasco, LLP, a boutique accounting firm also based there. 

The Bogdan & Frasco team will relocate to SD Mayers offices, which are only two blocks away. SD Mayer is projected to have $20 million in 2025, while Bogdan will be coming in with $2.75 million in revenue.  The combined firms will have 100 employees, 11 partners and four offices. Bogdan came in with about 10 staff and two partners.

Bogdan & Frasco was founded in 1995 by two CPAs, Greg Bogdan and Alex Frasco, providing accounting and tax services such as estate and trust tax preparation, international taxation, tax planning and preparation, reviews and compilations, and more. SD Mayer was founded in 2012 by Stephen D. Mayer.

“Joining SD Mayer is a natural progression for our firm and clients,” Bogdan said in a statement Monday. “SD Mayer’s depth of resources, innovative approach, and community-minded ethos align seamlessly with the values we have instilled since founding the firm. This transition ensures that our clients will continue to receive the highest level of personal service, now enhanced by SD Mayer’s expanded capabilities.” 

As part of the combination, Bogdan will join SD Mayer as a partner, bringing over four decades of experience in estate planning, tax compliance, and financial consulting. He previously worked at firms such as Peat Marwick, Arthur Andersen, and Sugarman & Co. Craig Lewis, a long-time partner at Bogdan & Frasco, will also join SD Mayer as a partner. He specializes in estate and general tax planning, tax compliance, and employee stock option compensation and planning. He has worked at Bogdan & Frasco since 1998 and became a partner in 2014. He previously worked with Price Waterhouse. Co-founder Alexander Frasco is retired.

“We are thrilled to welcome Greg, Craig and the talented team from Bogdan & Frasco to the SD Mayer family,” said SD Mayer managing partner Steve Mayer in a statement. “Their dedication to personalized client care and their impressive range of tax and accounting expertise perfectly align with our mission of helping clients succeed in business and life. Together, we’ll offer an even broader array of services while maintaining the boutique-level attention our clients value.”

In 2023, SD Mayer added the tax practice of Seifer, Murken, Despina, James & Teichman, a taxation law firm also based in San Francisco, and in 2021, it added TNT Inc. CPAs, a firm in Redwood City, California.