Accounting Firm GHJ Makes Latest Merger

Downtown-based accounting firm GHJ made its latest acquisition this month by bringing in Century City competitor Hacker, Douglas & Co. to join its profit participation services practice.

The transaction adds five professionals to GHJ’s home base, including senior leadership from Hacker Douglas. That brings the total to 222 at that location. The move also consolidates the operation into downtown and will not retain the Century City outpost.

GHJ Managing Partner Tom Barry hailed the move as a victory for his firm’s signature profit participation – that is, residuals from entertainment production, for example – practice group.

“From the beginning, we have admired Hacker Douglas’ thoughtful approach to client service, trusted relationships and expertise in profit participation,” he said in a statement. “GHJ is honored to carry that legacy forward, as we bring together two firms with a shared commitment to excellence and deep entertainment expertise.

“Our focus has always been on curating personalized experiences for clients,” Barry added, “and this move enhances the services we can provide and the exceptional experts on our team, all without sacrificing the tailored approach to business we’re known for.”

The move on one hand adds to the broader trend of consolidation throughout the accounting industry we’re seeing. On the other, the acquisition keeps one independent operation independent and more curated, as opposed to a cog in either of the Big Four conglomerates.

“With GHJ’s added depth and resources, our team is better positioned to support our clients’ goals without sacrificing the high-quality service that has always defined our work,” said Elaine Douglas, a new partner from Hacker Douglas. “I am confident this will serve our clients well for years to come.”

Already among the largest of L.A.’s locally based accounting firms, this and other moves only shore up that stature.

“Both firms strongly believe in providing the best client service to drive the most successful outcomes on all audit engagements,” said Wendy Mills, a new partner in the deal, “so we feel confident that GHJ is the perfect home for Hacker Douglas.”

Hacker Douglas, which was formed in 1970, certainly adds to GHJ’s existing specialties in entertainment, which have brought in as clients 80 of the 100 highest grossing films and more than 50 popular television productions, according to the company. The combination of firms and clientele gives GHJ around 80% of the film and TV profit participation market, according to Mari-Anne Kehler, chief strategy officer for GHJ.

“We’ve been fierce competitors for years, maybe decades,” she said of Hacker Douglas. “Over the years, we had wanted to see if it could work for us to come together. It’s something we had always hoped would happen, because Hacker Douglas was a really worthy competitor and a company we held in really high esteem.”

This growth follows GHJ’s acquisition of Encino-based GGF in November, which added small and midsize company expertise to the team.

Attorneys Jennifer Cohen and Matthew Bugaj of Century City law firm Sklar Kirsh advised GHJ in this transaction.

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