Aprio, an Atlanta-based business, advisory and accounting firm, is boosting its wealth management division by acquiring Mize CPAs, a Midwest-based accounting firm specializing in servicing owner/operators of McDonald’s franchises.
As part of the acquisition, Aprio bought Prism Financial Group, Mize’s affiliated wealth management firm. The $1.98 billion company offers fiduciary-based planning for Mize clients, and the deal will push Aprio’s assets under management above $5 billion.
The total deal will add Aprio offices in Topeka and Overland Park, Kan., 20 partners and over 300 additional employees. It’s the latest move in Aprio’s broader Midwest expansion, following the opening of three Chicago-area offices earlier this year. The regional team has over 450 professionals and plans to top 1,000 within three years.
Mize CPAs was founded in 1956 and is McDonald’s franchisees’ largest accounting and payroll provider. It also works with other businesses nationwide, offering payroll, tax and tech services. Prism, the firm’s wealth management business, works with individuals, business owners and franchisees in 42 states.
Aprio was founded in 1952, initially doing business as Habif Arogeti & Wynne before rebranding in 2015. It’s one of the largest accounting firms in Atlanta and the U.S., offering advisory, tax and private client services to clients in over 50 countries. The firm has more than 2,300 employees working with clients in manufacturing, real estate, construction and government contracting.
As part of the deal, Mize Managing Partner James Hilbert and Prism Managing Partner Tim Shmidt joined Aprio as partners, while Bryan Phillips will be the company’s McDonald’s owner/operator market leader moving forward. The deal is set to close Nov. 1.
In July 2024, Aprio received a strategic investment from Charlesbank Capital Partners, a middle-market private equity firm with several investments in the wealth management space (including Lido Advisors).
The deal marked the first capital injection into Aprio, and the firm said the investment would boost the company’s growth, both organically and via mergers and acquisitions. The deal closed in late 2024, and the transaction terms weren’t disclosed.
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