September 13, 2023

Clearsight Advises Cordia in its Acquisition by Cherry Bekaert

Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its Outsourced Finance and Accounting practice. Clearsight served as the exclusive advisor to Cordia Partners and Cordia Resources (Cordia) (“Cordia” or the “Company”) in its acquisition by Cherry Bekaert, LLP (“Cherry Bekaert”), a portfolio company of Parthenon Capital.

Headquartered in Tysons, VA, Cordia is a full-service provider of outsourced accounting, business advisory, technology, and business process consulting services. Cordia’s team of 250+ professionals provides operational support that help nonprofits, government contractors, and commercial businesses achieve efficiencies, minimize risks, and attain profitability. This marks Clearsight’s second transaction with Cherry Bekaert in the past nine months and serves to further solidify Cherry Bekaert’s accounting and advisory experience. Cordia’s three offices in the Washington, D.C. metro area strengthen Cherry Bekaert’s position in the market and support local growth across service lines. Additionally, Cordia’s complementary services in outsourced accounting and advisory, as well as recruiting and staffing, will create a new service line for Cherry Bekaert.

Mitch Weintraub, CPA, Co-Founder and Managing Partner at Cordia, remarked, “As we navigated the complex waters of our recent acquisition by Cherry Bekaert, we turned to our trusted financial advisor Clearsight Advisors to steer us to success. Their experience, industry relationships, and strategic insights were instrumental in closing the deal.”

“Throughout the transaction process, our collaboration with Clearsight Advisors has been invaluable,” noted Joe Greeves, Co-Founder & Managing Partner, Cordia Resources. “They brought clarity during the transformative journey ensuring that decisions were made in the best interest of our company and a future with Cherry Bekaert.”

Joel Kallett, Co-Founder and Managing Director at Clearsight, commented about the transaction, “Mitch, Joe, and their partners built Cordia into a premier outsourced accounting and recruiting and staffing firm with a values-based approach delivering end-to-end solutions. Cherry Bekaert is a great partner able to scale Cordia’s solutions, and we at Clearsight are thrilled about the possibilities that await.”

“Cordia has evolved with the market and truly become an industry leader in both brand and reputation,” added John Rakowski, Managing Director at Clearsight. “The Company’s best-in-class, mission-critical services make them a key partner to their clients and a great addition to Cherry Bekaert. We wish the Cordia and Cherry Bekaert teams the best and see a future full of possibilities.”

The Clearsight deal team included Joel Kallett, John Rakowski, Thomas Foreman, Logan Flake, and Katie Dover.