Kirsch CPA Group, a Cincinnati CPA firm that provides outsourced accounting, tax, and business advisory services as well as outsourced, fractional and virtual CFO services for growth-minded businesses and not-for-profit organizations, is pleased to announce its transition to 100% employee ownership through the establishment of an Employee Stock Ownership Plan (ESOP). This strategic move reflects the firm’s commitment to its employees, clients, and the long-term sustainability of the company.
Preserving a Culture of Shared Success
Firm leaders described the ownership transition as a mechanism to recognize the contributions of their dedicated team and ensure the preservation of a culture built around shared success and long-term growth for both employees and clients.
“By remaining independent, we are reaffirming our commitment to providing personalized, high-quality accounting, tax and advisory services to clients in the Tri-State area and beyond. This transition to employee ownership allows us to maintain local decision-making and the exceptional level of service our clients have come to expect,” said John Kirsch, founder of the firm.
“Through the ESOP, we’re empowering our team to have a direct stake in the firm’s success. This structure ensures that our entire organization remains dedicated to driving growth and prosperity for our business and not-for-profit clients across the Tri-State area. By staying independent and rooted in our community, we can continue to offer the responsive, relationship-driven approach that is the foundation of our firm. We are confident that this ownership model will drive innovation, maintain exceptional client service, and foster a collaborative environment.”
Pete Abner, CEO, emphasized the importance of the transition for the firm’s long-term success. “It has become increasingly common for CPA firms to pursue a merger strategy to address succession planning and team bench strength,” he explained. “After carefully reviewing many options, it became evident that an employee ownership structure was the best strategy for Kirsch CPA to thrive long-term. It allows us to preserve our unique client service model that focuses on serving clients in an advisory capacity. We believe the employee ownership model is the ideal structure for sustainability.”
Abner continued: “We are extremely proud to be a Cincinnati Best Places to Work finalist for eight years. Maintaining that culture is critical to the success of the organization and our clients. Every team member will now share in the rewards of business ownership while continuing to enjoy the culture established over three decades: a great place to work, a reputation for excellence, and a passion for helping business owners and not-for-profits succeed.”
Kirsch echoed the sentiment. “An ESOP is an investment in our shared future, ensuring our company culture and core values of collaboration, passion and exceptional client service remain at the forefront. Additionally, it preserves work-life balance and flexibility—cornerstones of our success that empower our team to thrive personally and professionally.”
Striving to Be an Accounting Employer of Choice
Director of People and Business Development, Diane Glover added, “The firm is poised to continue its strong growth. An employee ownership structure will help us attract and retain talent, especially as the accounting industry faces ongoing recruitment challenges. This ownership opportunity, combined with our highly competitive compensation packages, reinforces our commitment to being one of Cincinnati’s best places to work and a preferred employer in the accounting field.”
Firm Leadership Remains
As Kirsch CPA Group transitions to an employee ownership model, the firm reaffirms its commitment to continuity of management and client service. This transition has been carefully planned and will not alter the current management structure, which has been in place for nearly four years. The leadership team and the quality service clients have come to expect will remain unchanged as the firm moves forward with this new ownership model.
John Kirsch, who founded the firm in 1991, will continue to serve clients and serve on the leadership team. Pete Abner will remain in the role of CEO, while Janis Bergeron will continue as COO. Sue Schloemer and Diane Glover will continue in their role as directors.
What Is an ESOP?
An employee stock ownership plan (ESOP) gives employees ownership in the company through a tax-qualified retirement plan. Employees earn shares over time and no out-of-pocket contribution is required by employees. All other employee compensation and benefits remain in place.
According to the most recent estimate of the National Center for Employee Ownership (NCEO), there are employee stock ownership plans (ESOPs) at 6,322 companies in the U.S. There are 6.1 million employers in the U.S. according to U.S. Census Bureau data. The ESOP Association, an employee ownership advocacy and educational organization, reports 297 ESOPs in Ohio out of 252,000 total employers.