Nashville, Tenn., Dec. 04, 2024 (GLOBE NEWSWIRE) — LBMC, one of the nation’s top 40 accounting and business consulting firms, proudly announces that Frazee Ivy Davis, an accounting firm based in Memphis, Tennessee, has agreed to join the firm effective Dec. 2. This strategic transaction not only expands LBMC’s geographic footprint across Tennessee, but also amplifies the firm’s capacity to provide an extensive range of services in the southeast and augments the organization’s talent pool.
The Frazee Ivy Davis transaction adds five shareholders for a total of 35 professionals, bringing LBMC to six locations, 900+ team members in 30 states, serving more than 11,000 clients across the nation.
”We’ve been carefully evaluating the right opportunity in Memphis for years since the region has been an integral part of our client base with more than 160 clients already being served in the city with growing demand,” said Jim Meade, CEO and Managing Shareholder of LBMC. “With Memphis as the second largest metro center in Tennessee, this expansion cements LBMC’s position as Tennessee’s largest professional services firm and 3rd largest in the Southeast.”
A well-established firm with a strong audit, tax, and accounting foundation, Frazee Ivy Davis further bolsters LBMC’s expertise and bench strength in advisory growth areas. With long-standing relationships among its clients, Frazee Ivy Davis offers customized solutions in healthcare, manufacturing, logistics, hospitality, and real estate.
“Memphis offers a strategic advantage with its robust logistics hub, thriving entrepreneurial ecosystem, and access to top talent from multiple universities in the region. This environment aligns perfectly with LBMC’s vision for innovation, growth, and development as the firm of the future,” added Meade.
In addition to adding strong healthcare industry knowledge, LBMC brings expanded expertise around advisory services such as human resources, technology solutions, staffing/recruiting services, cybersecurity, consulting/business intelligence, wealth advisory services and procurement to the Memphis market. Healthcare currently comprises 40% of LBMC’s business, along with other privately-owned and private-equity-backed middle market companies in the manufacturing/distribution, real estate and technology industries.
This transaction follows last year’s expansion into Louisville, Kentucky when Strothman & Company joined LBMC, as well as 2024 top tier talent acquisitions and new service line expansions in Revenue Cycle Management, Consulting and Business Intelligence, and the launch of the firm’s Family Law Support Services Division.
“We are excited to be joining a nationally renowned team of experts who bring complementary strengths to the table with fully aligned core values and cultures and a common focus on exceptional client experience,” said John Ivy, President of Frazee Ivy Davis. “Our partnership with a leading regional firm enhances our ability to deliver a broader range of expertise and scalable solutions to our clients, positioning them for growth while providing expanded opportunities for our team.”
About LBMC
LBMC is a 2024 USA Today Top Recommended Firm, one of the Southeast’s largest accounting and business consulting firms, and an Accounting Today Top 40 Firm in the Nation serving approximately 11,000 clients with diverse needs across a spectrum of industries. Primary client groups include privately-owned and private-equity-backed middle market companies in the healthcare, manufacturing/distribution, real estate, and technology spaces. At the forefront of innovation, LBMC leverages advanced business intelligence and AI technologies to drive growth, efficiency, and strategic insights for our clients. Founded in 1984 as a traditional accounting firm, LBMC today is an industry leader in audit, tax, advisory, technology, human resources, and wealth advisory services for businesses and individuals. LBMC has more than 900 team members, with offices in Nashville, Chattanooga, and Knoxville, Tennessee; Louisville, Kentucky; and Charlotte, North Carolina. For more information on LBMC’s experts and comprehensive services, visit our website or call 615.377.4600. Discover career opportunities or learn more about how LBMC’s services and culture can support your business goals. Connect with us on LinkedIn for the latest insights on talent, client engagement, and business growth.
About Frazee Ivy Davis
Frazee Ivy Davis is a long-established CPA firm in Memphis, Tennessee with roots tracing back to the 1950s when the Frazee firm was founded by William M. Frazee. In 2006 brothers Alex and John Ivy, Jerry Davis, and members of the Frazee firm joined together to form Frazee Ivy Davis. The firm provides complete accounting and advisory services for private companies, families, individuals, executives and their legal and financial advisors. In addition, the firm offers tax and auditing services along with expertise in valuation, exit planning, and resolution of financial controversies.
Attachments
- LBMC’s Growing Presence in Memphis
- Jim Meade, LBMC CEO and Managing Shareholder on LBMC’s Strategic Growth with Frazee Ivy Davis Merger
