LBMC, the largest professional business services company in Tennessee, announced the acquisition of W Squared effective August 1. W Squared is a leading Tennessee-based outsourcing solutions company that provides finance, accounting, payroll, human resources, technology, and procurement services to a range of businesses. LBMC officials said the partnership will enhance the solutions available to clients of both companies by adding breadth and depth to their already extensive service offerings.

"LBMC was founded with a simple mission: to serve great clients and enjoy doing it," said Jeff Drummonds, CEO of LBMC. "We've kept that core ideal top of mind over the last three decades as we've grown and expanded in scope to meet the needs of our clients. We have worked with W Squared for over a decade through our mutual clients and are excited to be adding them to our team permanently. They are as engaged and enthusiastic about their clients and the work they do as we are. They are a great cultural fit and share our entrepreneurial approach to finding creative solutions. Their addition will aid our efforts to be a national leader in comprehensive back-office solutions."

LBMC opened its doors in 1984 as a traditional accounting firm, but over time has expanded its services to serve the diverse needs of clients. The firm now provides a broad array of services backed by more than 500 employees. The combined resources will strengthen LBMC in the outsourcing arena, where company officials said they continue to see growing customer demand. The resources of LBMC combined with those of W Squared will provide fully customizable outsourcing solutions to a broad range of clients across the country.

"We are pleased to be joining the LBMC family," added Tammy Wolcott, CEO of W Squared. "This is an exciting time for W Squared and our employees. Our companies share a culture of innovation and creativity, along with a passion for providing excellent customer service. We look forward to enhancing our clients' experience with additional services, while providing the same quality of care and team-based approach our clients have come to expect."

The merger adds approximately 60 employees to LBMC along with a significant roster of clients. W Squared is a 2012 and 2013 Inc. Magazine 500|5000 Company as well as a 2012 and 2013 Inc. Magazine Hire Power Award Winner. LBMC has been named a "Best Place to Work for Millennials" by LEA Global, a "Best Place to Work for Recent Grads" by Symplicity, and has received other "Best Places to Work" awards. It has twice been named Most Innovative Firm in the U.S. by The Leading Edge Alliance and has been named a Technology Pacesetter by Accounting Today numerous times. The firm is nationally ranked in the top 50 by Accounting Today.

"Whether a business has a very specific outsourcing need or requires a full suite of back-office support, with the addition of the W Squared team, LBMC is more capable of providing our clients everything their business would need," added Drummonds.