Frazier & Deeter Strengthens Southeast Footprint with Acquisition of Charlotte’s Pesta Finnie

Frazier & Deeter, a top-tier national professional services firm, has acquired Pesta Finnie & Associates, LLP, a longtime Charlotte-based accounting and advisory firm. The move marks a deliberate step in FD’s Southeast expansion and reflects a broader consolidation trend in the accounting advisory space, focusing on bolstering regional strength with specialized talent.

Deal Summary

• Acquirer: Frazier & Deeter (FD), an Atlanta-headquartered firm offering tax, audit, risk, digital, and business transformation services.
• Target: Pesta Finnie & Associates, LLP, founded in 1991 and rooted in Charlotte, North Carolina.
• Business Focus: Pesta Finnie specializes in tax advisory, accounting, and consulting for middle-market companies, family offices, real estate investors, entrepreneurs, and high-net-worth individuals.
• Geographic Impact: The acquisition significantly strengthens FD’s presence in Charlotte and the broader Carolinas region, a key component of its Southeast growth plan.
• Leadership Transition: Don Pesta, the firm’s founding partner, will retire by year-end. Peter Greve, already a key leader within Pesta Finnie, will assume responsibility as the managing partner of FD’s Charlotte office.
• Strategic Rationale: The acquisition brings advanced real estate tax and family office capabilities into FD’s advisory platform, while leveraging cultural alignment and shared client-service values. FD will fully integrate Pesta Finnie into its operational infrastructure - providing its team with access to technology, finance, talent development, marketing, and business development resources.

Industry Context

Accounting and advisory services are consolidating rapidly as national firms seek to acquire regionally strong practices that bring differentiated technical expertise. Firms like FD are targeting high-quality local advisory businesses that serve family offices, real estate-focused enterprises, and middle-market companies - areas of growing demand that benefit from deep tax, valuation, and long-term planning experience.

Moreover, the real estate advisory niche remains a particularly attractive entry point because of its complexity, frequent financial transactions, and recurring tax planning needs. By integrating Pesta Finnie, FD not only gains technical talent but also strengthens long-standing client relationships in a high-value segment.

Lower-Middle-Market Roll-Up Perspective

From a roll-up and platform strategy perspective, FD’s acquisition of Pesta Finnie illustrates several key themes:

1. Geographic Expansion via Acquisition: Rather than opening a greenfield office in Charlotte, FD buys an established business with local credibility.
2. Preserving Culture and Relationships: FD retains leadership and deep client relationships, minimizing disruption and preserving institutional trust.
3. Value-Added Capabilities: Pesta Finnie adds real estate tax and family office advisory skills that complement FD’s broader advisory services, enhancing cross-sell potential.
4. Operational Leverage at Scale: Pesta Finnie will benefit from FD’s systems - technology, talent development, back-office - which supports efficiency and service quality.
5. Long-Term Vision: With FD’s integration plan, this isn’t a purely financial transaction; it’s a strategic alignment meant to support both client and talent growth over time.

This deal also fits FD’s broader M&A cadence: in the same period, the firm acquired Rosen, Sapperstein & Friedlander (RS&F) in Maryland, boosting its Mid-Atlantic presence.

Why This Sector Is Attractive for Roll-Ups

• Fragmentation: Many high-quality regional accounting firms remain independent, making them ideal targets for larger platforms.
• Recurring & Specialized Revenue: Advisory services around family offices and real estate generate recurring tax, valuation, and consulting engagements.
• Cross-Platform Synergies: Integrators can scale back-office functions, technology, and recruitment across acquired firms.
• Talent Retention: By preserving leadership and client relationships, platforms can retain institutional knowledge and staff.
• Private Equity Support: Firms like FD, often backed by institutional capital, can make disciplined acquisitions to accelerate growth while maintaining service quality.

Conclusion

Frazier & Deeter’s acquisition of Pesta Finnie & Associates is a well-calibrated move to extend its geographic reach and deepen its advisory specialization. For FD, it adds a high-trust, technical practice in a fast-growing region. For Pesta Finnie, it provides a path to scale - with access to more resources and broader career opportunities under FD’s national umbrella.

This transaction is also an instructive case for founders and operators: partnering with a like-minded platform can unlock growth, preserve your culture, and deliver enhanced client service. For investors, it demonstrates the enduring appeal of specialist, value-driven advisory firms and the power of roll-up strategies to accelerate growth in professional services.