Roanoke accounting firm acquires real estate title firm

Roanoke-based accounting firm Brown Edwards acquired Salem-based Covenant Real Estate Services LLC as of Jan. 1, Brown Edwards announced Monday.

Financial terms of the deal have not been disclosed.

Covenant was founded by Roger Kronau and Jerry Dunnavant, and both will serve in leadership positions under the acquisition. Kronau will continue his work as the operations manager of Covenant and Dunnavant will remain president of Covenant. Dunnavant, however, will also take on the responsibilities as the director of business development for Brown Edwards.

“Real estate service offerings are a natural fit with our goal of being a one-stop-shop and most trusted advisor for our clients,” Jason Hartman, CEO of Brown Edwards said in a statement. ”Covenant, with its solid reputation in the industry, and depth of experience fits the bill nicely.”

Dunnavant graduated from the University of Virginia and has more than 25 years of sales and business development experience. Kronau also graduated from U.Va. and earned a law degree from the University of Richmond.

As part of the move, current Brown Edwards Director of Business Development Mike Walton will shift into the role of director of marketing and communication to work on regional branding.

Brown Edwards’ Roanoke office and Covenant’s Salem office will both remain open and separate despite the acquisition.

Brown Edwards is a regional accounting firm and is ranked No. 98 on Accounting Today’s list of the top 100 accounting firms in the U.S. Covenant is a real estate title and settlement firm that buys commercial, land, investment and residential properties.