Maryland, January 3, 2026
HBK CPAs & Consultants is set to enhance its presence in the Mid-Atlantic accounting sector by acquiring McLean, Koehler, Sparks & Hammond (MKS&H). Effective December 1, 2025, this strategic acquisition will add 35 professionals and establish HBK’s first offices in Maryland, specifically in Timonium and Frederick. MKS&H’s extensive range of services and specialized knowledge, particularly in deathcare, will bolster HBK’s client offerings and strengthen its commitment to growth in a competitive marketplace.
Canfield, Ohio – In a significant move for the Mid-Atlantic accounting sector, HBK CPAs & Consultants, a leading Top 50 accounting firm based in Ohio, is expanding its reach into Maryland by acquiring McLean, Koehler, Sparks & Hammond (MKS&H) effective December 1, 2025. This strategic acquisition will not only see HBK adding 35 professionals to its ranks but will also establish its first offices in the Maryland locations of Timonium and Frederick.
Founded over 80 years ago, MKS&H offers an extensive range of services, including accounting, tax, audit, and business consulting, primarily serving middle-market clients across various industries. These include construction, real estate, manufacturing, distribution, nonprofit services, international tax and accounting, and notably, deathcare — marking a new specialization area for HBK. The integration of MKS&H’s expertise into HBK’s portfolio reinforces a strong commitment to growth and client service in a rapidly evolving marketplace.
Strategic Growth and Market Expansion
This acquisition marks an important step for HBK as it aligns with the firm’s strategic growth initiative and enhances its industry expertise in the region. The managing principal and CEO of HBK has underscored the importance of this transaction by noting that MKS&H’s strong reputation and specialized knowledge will broaden HBK’s geographic reach while deepening its service offerings. This reflects a commitment to providing enriched resources and capabilities that clients expect from top-tier firms.
HBK’s Industry Standing
Since its inception in 1949, HBK has been recognized for its technical acumen and personalized approach, earning a commendable position as No. 50 on Accounting Today’s 2025 list of the Top 100 U.S. CPA firms. With an annual revenue of $156 million, 114 partners, and a workforce of 729 employees, HBK stands ready to influence the competitive landscape in Maryland’s accounting industry.
Recent Market Trends and Acquisitions
The entry of HBK into Maryland coincides with a broader trend of increased activity surrounding mergers and acquisitions among accounting firms in the state. Recently, other notable firms have also expanded through acquisition — for instance, Marcum LLP acquired E. Cohen & Co. CPAs in Rockville in December 2022, while CliftonLarsonAllen added Dembo Jones CPAs and Advisors to its portfolio in May 2025. These changes indicate a consolidating trend within the industry, emphasizing the importance of expanding service offerings and geographic presence to better serve clients.
MKS&H’s Contributions
The acquisition of MKS&H not only diversifies HBK’s service capabilities but also enhances its specialization in areas that cater to specific client needs, which is crucial for maintaining competitiveness in today’s market. MKS&H’s robust client base, especially in sectors like deathcare, presents opportunities for HBK to grow its expertise and tailor services effectively. With Kathleen M. Davis, the managing partner of MKS&H, expressing enthusiasm about the merger, it reinforces a shared vision for providing clients with advanced service options and expertise.
Looking Ahead
The integration of MKS&H into HBK is poised to redefine client interactions and service delivery in the Mid-Atlantic region. The anticipated benefits include greater access to resources, improved service capabilities, and enhanced client satisfaction as HBK continues to solidify its footprint in Maryland. The firm’s proactive approach to expansion demonstrates an optimistic outlook not only for itself but also for the local Maryland economy as it fosters greater competition and service diversity.
As businesses and entrepreneurs look to adapt to an ever-evolving economic landscape, the commitment to innovative practices and collaborative growth remains crucial. Supporting expansions like that of HBK can lead to a more vibrant Baltimore MD business community, encouraging further entrepreneurial endeavors and ultimately benefiting local economies.
Conclusion
The acquisition of MKS&H by HBK CPAs & Consultants marks a notable expansion into Maryland’s accounting landscape, tapping into new market segments and enhancing service offerings. As the local accounting sector continues to evolve, the emphasis on innovation and adaptability by firms like HBK serves as a powerful reminder of the importance of supporting local businesses and their roles in driving economic growth in Baltimore MD and beyond. Residents are encouraged to remain engaged with local firms and foster an environment where entrepreneurship can thrive.
FAQs
- What is the significance of HBK’s acquisition of MKS&H?
- The acquisition marks HBK’s entry into the Maryland market, adding 35 professionals and establishing offices in Timonium and Frederick.
- What services does MKS&H provide?
- MKS&H offers accounting, tax, audit, and business consulting services to middle-market clients across various industries, including construction, real estate, manufacturing, distribution, nonprofit services, international tax and accounting, and deathcare.
- How does this acquisition align with HBK’s strategic goals?
- The acquisition enhances HBK’s industry expertise and geographic reach, supporting its strategic growth initiative in the Mid-Atlantic region.
- What is HBK’s position in the accounting industry?
- HBK is ranked No. 50 on Accounting Today’s 2025 list of the Top 100 U.S. CPA firms, with $156 million in annual revenue, 114 partners, and 729 employees.
- What other recent acquisitions has HBK made?
- In October 2025, HBK acquired KHS, a boutique firm in northern New Jersey, expanding its presence in the New York metro area.
| Feature | Details |
|---|---|
| Acquisition Date | December 1, 2025 |
| Acquired Firm | McLean, Koehler, Sparks & Hammond (MKS&H) |
| New Offices | Timonium and Frederick, Maryland |
| Number of Professionals Added | 35 |
| HBK’s Ranking | No. 50 on Accounting Today’s 2025 list of Top 100 U.S. CPA firms |
| Annual Revenue | $156 million |
| Number of Partners | 114 |
| Number of Employees | 729 |
| New Industry Specialization | Deathcare |
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