HBK, an accounting and advisory firm, said Oct. 24 that it agreed to purchase KHS, a boutique accounting firm based in Paramus.
The transaction, expected to close at the end of October, will establish the Boca Raton, Fla.-based firm’s newest office location in Northern New Jersey. HBK also has offices in Holmdel and Cherry Hill. Financial terms were not disclosed.
The firm said the acquisition adds specialized expertise in real estate, amusement & recreation, high-net-worth individuals, and family offices. KHS’s client portfolio includes concentrations in real estate, summer camps, high-net-worth individuals and fiduciary services.
“KHS has carved out a unique position in the market by providing Big 4-level expertise with the personal attention and responsiveness that high-net-worth clients and their families value,” said HBK CEO and Managing Principal Thomas M. Angelo. “Their track record of attracting clients who previously worked with larger firms speaks to the quality of their service model. This is exactly the type of specialized capability we want to bring into HBK.”
The firm’s proximity to New York City has enabled KHS to develop relationships with clients in private equity, real estate, and other sophisticated industries. Many of these clients have transitioned from national firms seeking more personalized service without sacrificing technical expertise.
As part of the acquisition, Dina Schwartz and Marc Harbus will join HBK as principals. Schwartz will lead operations at the Paramus location, while Harbus will divide his time between HBK’s Boca Raton and Paramus offices. HBK said all seven KHS employees will join the combined company.
“We’ve built our practice on the principle that high-net-worth individuals and complex clients deserve both technical excellence and personal attention,” said Harbus. “Joining HBK allows us to enhance our service offerings while maintaining the boutique approach our clients expect.”
The addition of KHS supports HBK’s strategic initiatives, focusing on proactive growth through strategic acquisitions, geographic expansion, and enhanced service delivery capabilities. The company said it will look for opportunities to expand in new markets as well as the ones it is in, but no other New Jersey acquisitions are scheduled to close in the near future.
