Indianapolis-based accounting firm Meridian CPAs has been absorbed by larger rival Somerset CPAs PC, the firms announced Thursday.
As part of the deal, four of the five principals of Meridian will join Somerset in August. They are David A. Burnett, Jay R. Horn, John R. McClary and Michael A. Stover.
About a dozen additional staff accountants and support staff at Meridian also are expected to join Somerset, which will have 140 employees when the merger is complete.
Terms were not disclosed.
Somerset is Indianapolis’ seventh-largest accounting firm, based on the number of local full-time employees, according to IBJ’s latest statistics. All Meridian employees will be located at Somerset’s office at 3925 River Crossing Parkway at Keystone at the Crossing.
Meridian specializes in health care, construction and real estate, accounting, tax and business valuation, and litigation support, which fit well with Somerset’s existing services, the firms said in a written statement.
Somerset was founded in 1960. Its managing partner is Patrick J. Early.