HBK CPAs & Consultants has expanded into Maryland through its combination with MKS&H, creating a stronger Mid-Atlantic platform for accounting, tax, audit, and advisory services.
A Strategic Move That Puts HBK on the Maryland Map
In the accounting world, expansion announcements do not usually arrive with fireworks, marching bands, or someone dramatically cutting a ribbon with oversized scissors. But when a well-established regional firm enters a new state through a respected local practice, the message is still loud and clear: growth is not random. It is strategic.
That is exactly the story behind the news that HBK CPAs & Consultants has expanded into Maryland through its deal with McLean, Koehler, Sparks & Hammond, better known as MKS&H. Effective December 1, 2025, the Maryland-based accounting and advisory firm joined HBK, adding approximately 30 professionals and giving HBK its first offices in the state, located in Timonium and Frederick.
For clients, the deal is more than a new logo on a reception wall. It combines the local relationships and specialized industry knowledge of MKS&H with the wider resources of HBK, a Top 50 accounting firm with a growing footprint across multiple U.S. markets. For the accounting profession, it is another example of a larger trend: regional firms are expanding through combinations that add talent, deepen niche expertise, and help them compete in a market where clients increasingly expect more than traditional tax preparation.
Who Are HBK and MKS&H?
HBK CPAs & Consultants: A Regional Firm With National Ambition
HBK CPAs & Consultants traces its roots back to 1949 and has grown into a major regional accounting and advisory firm. Its services include accounting, tax, audit, wealth management, transaction advisory, valuation, forensic accounting, litigation support, and business consulting. In other words, HBK is not simply the firm you call when your shoebox of receipts starts looking judgmental.
The firm has been recognized among the largest CPA firms in the United States, including a Top 50 position in Accounting Today’s 2025 ranking and a No. 44 spot in the 2025 Inside Public Accounting ranking. Those rankings matter because they signal scale, market presence, and the ability to invest in technology, advisory talent, and specialized client services.
MKS&H: A Maryland Firm With Deep Local Roots
MKS&H brings more than 80 years of history serving Maryland businesses and organizations. The firm has built its reputation around accounting, tax, audit, and business consulting services for middle-market clients. Its offices in Timonium and Frederick give HBK immediate access to important Maryland business communities, including the Baltimore and Frederick markets.
MKS&H also brings strong industry specialization. Its experience includes construction, real estate, manufacturing and distribution, nonprofit organizations, international tax and accounting, and deathcare. That last sector may not be a daily dinner-table conversation, but it is a serious, highly regulated industry where specialized financial guidance matters.
Why the MKS&H Deal Matters
1. HBK Gains Its First Maryland Offices
The most obvious result of the deal is geographic expansion. Before the MKS&H combination, HBK did not have offices in Maryland. With Timonium and Frederick now operating under the HBK brand, the firm gains a physical presence in a state that sits at the heart of the Mid-Atlantic business corridor.
Maryland is a practical expansion market. It connects naturally with HBK’s existing footprint in Pennsylvania, New Jersey, New York, Ohio, and other regions. The state also has a diverse economy, with active sectors such as construction, real estate, manufacturing, professional services, nonprofit organizations, healthcare, and international business. For a firm that wants to serve middle-market clients across state lines, Maryland is not a random pin on the map. It is a logical next step.
2. Clients Gain Broader Resources
For existing MKS&H clients, the key promise is continuity plus expanded capability. That combination is the holy grail of professional services mergers. Clients usually do not want their trusted advisors to vanish into a corporate fog machine. They want the same people, the same responsiveness, and more resources when complex needs arise.
Through HBK, MKS&H clients may gain access to deeper advisory teams, more specialized tax knowledge, wealth advisory resources, transaction support, valuation services, forensic accounting, and broader industry insight. A construction company dealing with multi-state tax questions, a nonprofit facing audit complexity, or a manufacturer considering expansion may now have more expertise within reach.
3. HBK Adds Industry Depth
Accounting firm deals are not just about getting bigger. Bigger is useful, but only if it makes the firm better. The MKS&H combination strengthens HBK’s industry coverage, particularly in construction, real estate, manufacturing and distribution, nonprofit services, international tax, and deathcare.
Industry specialization matters because clients do not want generic advice wrapped in a fancy PDF. A real estate developer needs guidance that reflects project timelines, financing structures, depreciation rules, and partnership issues. A nonprofit needs help with donor restrictions, grant compliance, audit readiness, and governance. A manufacturer needs support around inventory, cost accounting, supply chain pressure, and tax planning. The more an advisor understands the client’s world, the less time everyone spends translating basic business reality.
The Bigger Picture: CPA Firms Are Consolidating
The HBK and MKS&H deal fits into a much larger movement across the accounting profession. CPA firms are consolidating for several reasons: succession planning, talent shortages, technology investment, regulatory complexity, and rising demand for advisory services.
Many middle-market clients now expect their CPA firm to be more than a once-a-year tax shop. They want help with business strategy, risk management, transaction planning, cybersecurity concerns, financial forecasting, outsourced accounting, and industry-specific decisions. That requires people, systems, training, and scale.
At the same time, the profession is dealing with a challenging talent environment. Firms need to recruit and retain skilled professionals while also investing in automation, cloud platforms, artificial intelligence, data analytics, and secure client portals. Smaller firms can absolutely be excellent, but some face pressure when clients ask for more specialized services than a lean local team can comfortably provide.
That is why combinations like HBK and MKS&H are becoming more common. A larger firm can gain local trust and niche expertise, while the local firm gains access to broader resources. When done well, everyone wins: clients receive more support, employees gain more career paths, and the combined firm becomes more competitive.
What This Means for Maryland Businesses
More Advisory Options for Middle-Market Companies
Maryland companies operate in a business environment that can be both opportunity-rich and paperwork-hungry. Between federal tax rules, state requirements, labor costs, compliance obligations, and industry-specific regulations, business owners often need advisors who can see around corners. The HBK-MKS&H deal may give Maryland businesses access to a larger menu of services without losing the local familiarity they value.
For example, a Frederick manufacturer may need help improving margins while managing equipment purchases and tax incentives. A Baltimore-area nonprofit may need audit support and internal control recommendations. A construction company may need help with job costing, bonding capacity, cash flow planning, and multi-state payroll issues. These are not abstract accounting puzzles. They are everyday business decisions with real money attached.
Continuity for Existing MKS&H Clients
One of the most important details in the announcement is that both Maryland offices continue operating under the HBK brand, with MKS&H leadership and professionals joining the broader organization. That signals an effort to preserve client relationships while integrating systems, processes, and knowledge across the combined firm.
For clients, continuity is essential. A business owner does not want to explain their company history from scratch every time a firm changes structure. The smoothest professional services combinations protect the client relationship first, then gradually introduce new resources where they make sense.
A Stronger Mid-Atlantic Presence
HBK’s entry into Maryland strengthens its Mid-Atlantic presence. The firm already has offices in nearby states, and Maryland fills an important gap between existing markets. This can be especially useful for companies with operations across Pennsylvania, New Jersey, Maryland, New York, Ohio, Florida, and beyond.
Multi-state businesses often face tax, payroll, entity structure, nexus, and compliance questions that do not politely stay inside one state border. A broader regional firm can help clients connect the dots across jurisdictions, which is much more efficient than trying to manage every issue in isolation.
Leadership and Integration: The Part That Determines Success
Deals make headlines, but integration determines whether the headline becomes a success story. HBK’s announcement emphasized alignment of systems and processes, knowledge sharing, and collaboration opportunities. That is the practical work that happens after the press release has enjoyed its five minutes of fame.
Leadership matters here. HBK Managing Principal and CEO Thomas M. Angelo described the move as part of the firm’s strategic growth initiative and a key step into the Maryland market. MKS&H Managing Partner Kathleen M. Davis also emphasized expanded resources and shared values. The MKS&H team joining HBK includes Davis, Audit Principal Wayne E. Baldwin Jr., Tax Principal Jennifer Milas, and Audit Principal Barbara Walker.
Those names matter because professional services are relationship businesses. Clients do not hire a spreadsheet. They hire people they trust to interpret the spreadsheet before it starts making scary noises. Maintaining leadership continuity helps reassure clients and staff that the combination is not just a transaction; it is a transition.
What Clients Should Watch After the Deal
Service Expansion
Clients should pay attention to new services that become available through HBK. These may include more advanced tax planning, transaction advisory, valuation, wealth advisory, forensic accounting, litigation support, and specialized consulting. The best way to benefit from the combination is not to wait until tax season panic mode. Clients should ask what new resources may apply to their business goals.
Technology and Process Changes
Integration often brings updated systems, portals, billing processes, workflow tools, or document-sharing methods. These changes can feel mildly annoying at first, like when your favorite grocery store rearranges the cereal aisle. But better systems can improve communication, security, and response times if they are introduced clearly.
Industry-Specific Opportunities
Companies in construction, real estate, manufacturing, distribution, nonprofit services, international business, and deathcare should be especially attentive. Those are areas where MKS&H already had experience and where HBK may now be able to create deeper practice strength.
Experience-Based Perspective: What Deals Like This Feel Like for Clients and Teams
When an accounting firm expands through a local deal, the official announcement often sounds simple: one firm joins another, offices continue operating, clients gain resources, and everyone smiles professionally. In real life, the experience is more layered. For clients, staff, and local business communities, a combination like HBK and MKS&H can feel both reassuring and a little uncertain at the same time.
From a client’s point of view, the first concern is usually personal: “Will I still work with the same advisor?” That question matters because accounting relationships are built over years. A CPA may know when a family business changed ownership, why a nonprofit changed its grant reporting process, or how a construction company handles retainage and cash flow. That history cannot be replaced by a bigger brand overnight. The best firm combinations recognize this and keep familiar advisors close to the client relationship.
The second experience is discovery. After the initial adjustment, clients often realize that the larger firm can bring new tools to the table. A business that previously called its accountant only for tax returns may begin discussing succession planning, entity structure, internal controls, technology upgrades, or acquisition readiness. This is where the deal can become valuable. The relationship starts with compliance, but it can grow into strategic guidance.
For employees, the experience can also be mixed in a productive way. Joining a larger firm may bring new training, more defined career paths, broader technical resources, and access to colleagues who specialize in areas that were previously outside the smaller firm’s reach. A young audit professional in Maryland, for example, may now have more opportunities to work with larger clients, specialized industries, or cross-office teams. That can be energizing, especially in a profession where talent development is a major competitive advantage.
Still, culture must be handled carefully. Local firms often have a personality of their own. They know the community, the clients, the lunch spots, and which conference room has the chair that squeaks like a haunted filing cabinet. If a larger firm ignores that local identity, it risks losing the very value it acquired. Successful integration respects the local culture while adding the structure and resources of the larger organization.
For Maryland’s business community, HBK’s expansion may also create a stronger advisory option for companies that are growing beyond basic accounting needs. Many middle-market businesses eventually reach a point where they need deeper support but do not want to feel like tiny fish in an ocean-sized firm. A regional firm with local offices can occupy that useful middle ground: large enough to offer specialized resources, but close enough to understand the local market.
That is the real promise of the HBK-MKS&H deal. It is not simply about adding professionals or locations. It is about combining scale with familiarity. If the integration is thoughtful, Maryland clients can keep the relationship-driven service they trust while gaining access to a broader advisory platform. In the accounting world, that is about as close as it gets to fireworks.
Conclusion
The news that HBK expands into Maryland with the MKS&H deal is more than a regional accounting update. It reflects how the CPA profession is changing. Clients want more advisory depth, firms need more scale, and specialized industry knowledge is becoming a major competitive advantage.
By adding MKS&H, HBK gains its first Maryland offices, approximately 30 professionals, and deeper expertise in industries that matter to middle-market clients. MKS&H gains access to a larger platform with broader services and resources. For Maryland businesses, the deal may mean more comprehensive support without losing the local relationships that make advisory work effective.
In short, this is a strategic Mid-Atlantic move with practical implications. It gives HBK a stronger regional footprint, gives MKS&H clients a wider bench, and gives the accounting industry one more reminder that modern CPA firms are no longer just counting numbers. They are helping businesses interpret them, plan around them, and occasionally stop them from causing a full-blown coffee spill.
