Empowered Expansion: Salver & Cook’s Strategic Merger with Aprio

The Background

Through a combination with Aprio, a Florida-based firm enhanced their service offerings and expanded their international footprint.

Meet Salver & Cook Based in Weston, Florida, Salver & Cook was a respected accounting firm with a strong presence across the tri-county areas of South Florida. The firm primarily focused on serving small to mid-sized private companies and multinational corporations engaging in cross-border business. After two decades of operating independently, Salver & Cook’s leadership team was looking for an opportunity to expand their international footprint, particularly in South and Central America. “We were looking for a firm to help us better serve our existing clients, as well as enhance the reach of our international tax service offerings,” said Vanessa Piedrahita, a long-time tax partner at Salver & Cook. “Our search led us to join Aprio,” said Vanessa who played a pivotal role in the entire process, ensuring a smooth transition and effective communication throughout the merger. Today, she is a partner at Aprio and the Latin American Practice and Colombia Office leader.

The Brief Firm: Salver & Cook Industry Specialty: Business Tax, International Tax Merged with Aprio: August 2023

In 2021, Salver & Cook began exploring partnership opportunities. “At the time, we were experiencing growing demand from clients with cross-border operations, particularly in Latin America,” she continued. “While we had strong technical capabilities, we recognized that to truly scale and meet our clients’ evolving needs, we needed a broader platform.”

Vanessa noted that one of the biggest drivers behind their decision was the challenge of recruiting and retaining top talent. “The market was becoming increasingly competitive, and we wanted to offer our team members robust career development opportunities, access to specialized resources, and a collaborative culture that would help us attract and keep the best professionals,” she said.

A merger offered the opportunity to address these challenges while preserving Salver & Cook’s commitment to client relationships and team culture.

The Opportunity

The team from Salver & Cook experienced a full integration from day one. Due to the effective date coinciding with the busy tax season, the firm needed to adopt a different strategy instead of a phased approach. While the timeframe was not ideal, it ultimately proved to be effective in achieving a seamless merger with Aprio. “The team’s ability to adapt quickly and work together from the outset was a testament to their resilience and commitment,” Vanessa said.

To support the transition, Aprio deployed teams from Atlanta to Florida to assist with IT setup, training, and onboarding. This hands-on support was crucial in addressing any technical challenges and ensuring that all team members were well prepared for the changes.

“Aprio provided extensive technical and procedural training, including a buddy mentorship program that helped new team members integrate smoothly,” she continued.

“We felt seen, we felt heard. Our CEO [Richard Kopelman] and CFO [Adam Rimes] were always checking in on us to make sure everything was going smoothly.”

— Vanessa Piedrahita, Latin America Practice Leader | Colombia Office Leader | Tax Partner

Aprio’s comprehensive approach to onboarding ensured that everyone was on the same page and could work together effectively from the start.

The most critical component of the merger between Salver & Cook and Aprio was the firms’ communication plan to clients. Vanessa cited the importance of addressing client concerns around continuity and fees. “We established a proactive communication plan with personalized service to help reassure clients and maintain their trust in the company during the transition,” she shared.

Results & Growth

Since the merger with Aprio, Salver & Cook has yielded significant benefits, completely transforming the scope and capabilities of their practice. According to Vanessa, “Aprio’s platform has enabled us to offer clients a comprehensive suite of services, including tax, consulting, payroll, valuation, audit, and talent solutions.”

The expansion has not only enhanced the value Vanessa and her team provide to clients but also positions them as a one-stop shop for all their needs. “Legacy clients have also benefited from the merger, now enjoying in-house services such as transfer pricing and valuation, which we had to previously outsource,” Vanessa said.

One legacy client who benefitted from the expanded services was a group of Latin American investors who held a significant real estate portfolio in the U.S. “Prior to the merger, we primarily supported them with U.S. tax compliance and high-level structuring advice,” she shared. “After joining Aprio, we were able to offer them a more robust and integrated service model, including restructuring their investment vehicles for better tax efficiency, implementing transfer pricing strategies, and providing advisory and payroll support for their operations based in the U.S. These enhancements gave the client the confidence and infrastructure to expand their investments in the U.S. market.”

This shift has streamlined processes and improved service delivery, further solidifying new client relationships. One of the notable successes following the merger was securing a $150,000 engagement, attributed to Aprio’s collaborative approach.

Client Win: Multinational $150K Referral The team’s support of a multinational client has become a success story post-merger. Here are a few highlights from the engagement: Pre-merger: The multinational client was a referral from a local attorney familiar with Salver & Cook’s work and personalized approach. Post-merger: The team’s expanded capabilities enabled them to provide comprehensive compliance, audit, payroll, and talent solutions while maintaining a tailored service experience. Result: Leveraging Aprio’s deep network allowed the team to offer seamless, end-to-end services and strategic insights spanning multiple service lines.

“This win exemplifies the effectiveness of the integrated services and the strength of our combined teams.”

— Vanessa Piedrahita, Latin America Practice Leader | Colombia Office Leader | Tax Partner

Bottom Line Since the merger, Vanessa praises Aprio’s collaborative, people-first culture. “The commitment to career development and healthy partner dynamics has positively impacted the team’s morale and productivity,” she said. “We work together. We go to market together. We’re always looking out for each other.” The successful integration between Aprio and Salver & Cook marked a transformative chapter for the firm, introducing substantial changes that reshaped its operations and culture. The Colombia office, which is home to professionals in tax, accounting, finance, HR, IT, and cash management, now manages a spectrum of roles previously outsourced. The Latin American tax practice has spurred significant expansion in its range of services, providing clients in-house payroll, valuation, audit, transfer pricing, talent solutions, and sophisticated IT offerings. As a result of the merger, the evolution of the firm has not only fueled remarkable growth but also unlocked greater opportunities for clients and team members.

Goals Achieved Since 2023 Grew revenue by 35% Grew the Colombia team by 44% while also growing the team in Miami Enhanced services to Spanish-speaking clients

For other firms considering a merger, Vanessa also offers this advice: “Speak up, ask for help, and most importantly embrace the challenges that come with a merger. While the process can be tough, the long-term rewards are well worth the effort.”

Are you interested in exploring a strategic partnership with a like-minded firm?
Aprio is well positioned to help firms across industry sectors achieve their growth goals, including those expanding internationally. Visit grow.aprio.com for more information. . To learn more about Aprio’s business tax services, contact Vanessa Piedrahita.