Fahrenheit Advisors Acquired by National Accounting Firm
Fahrenheit Advisors is thrilled to announce a significant milestone in our growth. We have joined the Smith + Howard family of companies creating new opportunities that will deepen our ability to deliver amazing results for our team, clients, and community.
Over the past 15 years, Fahrenheit has grown to more than 140+ people, helped 1000+ clients, and built one of the most respected consulting brands in our region.
Rich Reinecke and Keith Middleton began their business partnership, founding Fahrenheit Advisors, nearly 15 years ago. At the end of 2024, the Co-Founders and Co-Managing Partners sold their Richmond, Virginia-based firm to Smith + Howard (S+H), one of the nation’s premier tax, accounting, and advisory firms out of Atlanta.
The deal with S+H will help the firm grow nationally beyond Richmond and neighboring regions like Hampton Roads, Virginia. Rich and Keith will continue as co-CEOs and Kris Cravey, former Chief Executive Officer, will serve as the firm President under the Smith + Howard umbrella.
“We can grow a lot faster if you have a partner with a great brand with additional geographic reach,” Rich said.
Fahrenheit enlisted Boston-based investment banking firm BellMark Partners to search for a buyer. S+H has been on an acquisition streak since taking on private equity backing in 2022. Fahrenheit fit the established S+H model of adding services to its mix that go beyond traditional accounting. Their recent acquisitions include organizations in Chattanooga, Tennessee, and Dallas Texas. They have market presence in Chicago and Nashville and were looking for its first foothold in the Mid-Atlantic.
Left to right: Rich Reinecke, Kris Cravey, and Keith Middleton
FIRM HISTORY
Industry veterans, Rich and Keith were passing acquaintances when local angel investor Karen Booth Adams encouraged them to put their heads together in 2009. Keith was the CFO at Performance Food Group at the time, while Rich had his own executive search firm. Fahrenheit’s current client base includes middle-market companies, private equity-backed firms, non-profits, and state and local governments.
As a national consulting firm comprised of 140 employees nationwide, Fahrenheit partners with businesses to drive growth, overcome challenges, and achieve strategic objectives. Fahrenheit provides finance and accounting, human capital, growth optimization and executive search services on an interim, fractional, and project basis.
SMITH + HOWARD BACKGROUND
Left to right: Rich Reinecke, Fahrenheit Co-CEO, Marty Dauer, S+H Chief Growth Officer, Kris Cravey, Fahrenheit President, Sean Taylor, S+H CEO, Keith Middleton, Fahrenheit Co-CEO, Russ Kanner, S+H CPA Senior Manager
“Smith + Howard has a national reach and an exceptional reputation for doing more than expected,” said Keith. “Like Fahrenheit, they are trusted advisors, driven by creating extraordinary value for clients, providing a great place to work for their employees, and giving back to the community. It is an exciting time for Fahrenheit as we reach this next phase of our journey.”
Smith + Howard’s commitment to growth and innovation has been recognized nationally, with the firm included in INSIDE Public Accounting’s (IPA) Top 100 Accounting Firms list. The firm has gained accolades as a Fastest Growing Firm and enjoyed its 14th consecutive appearance in 2024 on the Best of the Best list by IPA. The acquisition of Fahrenheit Advisors further positions Smith + Howard as a dynamic leader in tax, accounting, and advisory services, reinforcing its dedication to providing comprehensive, impactful solutions to clients nationwide.
Smith + Howard is a top accounting firm serving businesses in the construction, distribution, hospitality, manufacturing, nonprofit, real estate, technology, and transportation/logistics sectors. Services include audit, cyber risk compliance and management, R&D credits, tax, international tax consulting, transfer pricing, and SOC reporting, among other offerings. Wealth management services are offered through Smith + Howard Wealth Management, LLC, an SEC Registered Investment Adviser. Sales and use tax and property tax services are offered through the firm’s subsidiary, Synexus Tax Solutions™, LLC. Management consulting and search services are offered by S+H Search LLC and S+H Consulting LLC.
THE FUTURE OF FAHRENHEIT
“We are keeping the name, the brand, all of our services, and all of our employees remain,” Keith said.
Fahrenheit will continue to operate under the existing brand as part of the Smith + Howard family of companies. We will remain in our headquarters in the Scott’s Addition neighborhood in Central Richmond, Virginia.
Immediately, we will have access to a growth minded partner with broader geographic reach and capabilities that will position us to be an even better integrated provider for you. Fahrenheit is even better positioned to meet the unique needs of your business as a member of the Smith + Howard family of businesses.
How can we be more impactful for you and your organization?
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