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Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.

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PBGH merging with Witt Mares

Keith Wampler

Alan Witt

One of the Fredericksburg area’s largest accounting firms will merge with a similar-sized company out of Hampton Roads.

PBGH LLP and Witt Mares PLC will join forces effective Jan. 1. The merger was announced publicly Wednesday.

PBGH’s local office is in the Mill Race North building on Jackson Street in Fredericksburg. The office and its employees will remain there after the merger.

PBGH Managing Partner Keith Wampler, who is based out of Fredericksburg, said the deal is a “merger of equals,” with partners in the two individual firms getting a pro rata ownership share of the new company.

A name will be chosen for the new firm before the merger is finalized Jan. 1. Wampler said it won’t be either “PBGH” or “Witt Mares,” but it could include elements of the current names.

Wampler will be chairman of the board of the combined firm and will remain in Fredericksburg. Alan Witt, who works out of Newport News and is currently CEO of Witt Mares, will be CEO of the new entity.

The combined firm will have nearly 200 employees and annual revenues of about $28 million, Wampler said. All employees of the two individual firms will keep their jobs, though some who worked in administrative roles might see their roles shift.

Witt Mares has offices in Newport News, Norfolk, Richmond, Williamsburg and Fairfax. PBGH has offices in Fredericksburg, Warrenton, Harrisonburg and Fairfax. The two Fairfax offices will be combined into one location, and the remaining seven will all stay open, giving the new firm eight offices that cover most of the eastern half of Virginia.

PBGH was established in 1963, and Witt Mares in 1979. Wampler said the two firms complement each other well as far as size, practice areas and geographic footprints.

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Permalink: http://news.fredericksburg.com/businessbrowser/2012/12/05/pbgh-merging-with-witt-mares/

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