Moss Adams has acquired Yurgosky Consulting, a New York-based Salesforce partner specializing in technology, strategy, and analytics, to expand its technology services, enhance client solutions, and establish a New York office.
Moss Adams, a large accounting firm in Seattle with an office in Lehi, recently announced it has acquired Yugorsky Consulting Limited, LLC, a technology, strategy, and analytics company based in New York.
Moss Adams, one of the largest accounting, consulting, and wealth management firms in the nation, concentrates on the middle market, thereby enabling the firm to provide counsel to clients across all phases of their growth, from startup to expansion.
Founded in 2012 on the philosophy that the best use of data is to empower people to make better decisions, Yurgosky provides a suite of technology services and products to organizations seeking to accelerate growth and operate more effortlessly. Serving primarily not-for-profits, higher education and social enterprises, Yurgosky is a longstanding Salesforce partner, offering multiple applications, including:
The acquisition allows Moss Adams to expand its technology offering and services by leveraging the Salesforce consultancy marketplace used in Yugorsky’s portfolio.
We sat down with Mark Steranka, a consulting partner at Moss Adams, to discuss how this acquisition will add to the company and what decisions led to this addition.
According to Steranka, they found out about Yugorsky from “an outreach from Citizens Bank” and that “Moss Adams might be a good prospective fit.” He added that Yugorsky is a “Salesforce implementer and that’s not an area we’ve played in.”
Despite this difference, Steranka noted that there are “tremendous synergies in that way” and that “they give us a capability we haven't had yet.” He also commented that Moss Adams had “a client base to be able to tap” and that this was a “real selling point for them.”
Steranka walked us through the complex process of acquiring Yugorsky, and that it was entertaining other offers. He believed that one of the reasons they were able to acquire them compared to competitors is the addition of Yugorsky's owner, Patrick Yugorsky, as a partner at Moss Adams. He noted that Patrick would lead the Salesforce practice for Moss Adams. And that “that’s something that was attractive to Patrick, and he will have a level of authority and autonomy that will feel similar to what he's had.”
Patrick Yugorsky and the majority of Yugorsky employees will transition to Moss Adams forming the bulk of the sales team of the company, and thereby creating a New York office for Moss Adams.
77 employees remain based in Moss Adams' Lehi office.
Steranka explained Moss Adam’s approach to acquisitions.
“We call them combinations," said Steranka. "Anything can look good on paper, but if the two entities can't work together to realize synergies, then you don't get the benefit of doing it."
He added, "It's all about having a good fit with your culture and your people. It can't just be about tapping a client base."
He added that Moss Adams’ acquisition strategy is “very targeted” and that they have been “ a leader in the industry in terms of organic growth." He continued, “acquisitions have been adding capabilities that we don't have. Yurgorsky and Salesforce are a perfect example of what we're doing, but it's complimentary. Other types of acquisitions might be geography-based. Some might be just building depth in a capability. We don't do acquisitions for the sake of acquisitions or to just acquire revenue; we're to create a capability that will better serve our clients.”
For more information, visit Moss Adams.