Accountancy firm HBK CPAs and Consultants and Vertical Solutions, a Pittsburgh-based managed service provider, have announced they have entered into a definitive merger agreement.
Upon closing of the transaction, Vertical Solutions will merge operations with HBK IT. The entity will be renamed “Vertilocity” and operate out of Pittsburgh and Clark, New Jersey, and in the Denver, Colorado area.
Vertilocity will be led by Bruce Nelson, president of Vertical Solutions. The combined company’s annual gross revenue is estimated currently at $10m.
Vertical Solutions has specialized in working with healthcare businesses and institutions, and as such, the merger also “serves to enhance HBK’s support of its more than 600 healthcare clients”.
Christopher M. Allegretti, CPA, HBK managing principal and CEO, said: “The Vertical Solutions team is steeped in experience in organizational workflows, systems, and software, and will support our initiative to provide relevant, sophisticated technological support to our clients.”
Bruce Nelson, president of Vertical Solutions, added: “HBK IT has extensive capabilities, and our firms share a vision for technical solutions, that they are built around solving business challenges.
“Our collective technical expertise along with the financial services offered by HBK combine for a unique, comprehensive, and extremely valuable offering to our current and future clients.”