Brown Edwards acquires Virginia Beach-based accounting firm

Roanoke-based accounting firm Brown Edwards announced last week that it has acquired Virginia Beach-based DesRoches & Co., a move that will enhance its presence in the Hampton Roads region.

Financial terms of the deal were not disclosed. DesRoches is a firm that provides specialized accounting and tax services to condominium and homeowners associations throughout the region. Mark DesRoches founded the firm in 1988, and his brother, Mark, joined in 1993.

The acquisition adds more than 25 DesRoches professionals to Brown Edwards’ team, increasing the firm’s experts in the Hampton Roads region to over 50, as the DesRoches employees will remain in Virginia Beach.

“We’re excited to welcome the talented professionals from DesRoches & Co. to strengthen our presence in Virginia Beach and neighboring cities,” Brown Edwards CEO Laura Sprouse said in a statement.

The acquisition will also result in a significant expansion of Brown Edwards’ homeowners association services and condominium practice, the company said.

It was not made clear what roles Mark and David DesRoches will play in the combined company, and Brown Edwards and DesRoches did not immediately return requests for comment. However, in a statement, Mark DesRoches said, “We’re proud to combine our industry knowledge, diverse experience and talented staff with Brown Edwards. This union allows us to build on our legacy while offering even greater services and value to our clients.”

Meanwhile, David DesRoches said in a statement that partnering with Brown Edwards “marks an exciting new chapter for our team and our clients. This acquisition allows us to scale our impact, deepen our expertise and continue delivering the personalized service we’ve built our reputation on — now with even greater resources behind us.”

Brown Edwards reported approximately $88 million in fiscal 2024 revenue and has more than 450 employees. In 2024, the firm ranked No. 69 in Inside Public Accounting’s Top 500 CPA firms ranking, which is based on net revenue. Forbes named it to the 2023 America’s Best Tax and Accounting Firms list.