Meridian, Idaho-based IPA 100 firm Sorren (FY25 net revenue of $193.3 million) announced that Charlotte, N.C.-based CDP Inc.a provider of construction accounting and project management software solutions, has joined the firm, expanding its digital advisory practice and technology services.
The combination brings CDP’s expertise in construction enterprise resource planning (ERP) systems, project management software, implementation and integration together with Sorren’s accounting, tax and advisory capabilities. The firms aim to help construction companies and other project-driven organizations better connect field operations with financial management systems.
Founded in 1981, CDP provides software solutions, implementation, integration, consulting and training services. In addition to construction, the company serves clients in engineering, energy, pharmaceuticals, manufacturing, telecommunications and other industries.
“The biggest technology challenges rarely come down to software alone,” said Paul Riefenbergpresident of CDP. “That’s especially true in construction, where project management, scheduling, job costing, and financial operations all need to work together. Joining Sorren allows us to bring that experience to an organization that shares our commitment to helping clients solve complex business challenges.”
CDP’s clients will continue working with their existing teams while gaining access to Sorren’s broader accounting, tax and advisory resources. The combination also expands Sorren’s capabilities in construction job costing, estimating, budgeting, scheduling, reporting and technology integration.
“Construction companies are managing increasingly complex projects, and having the right technology and financial expertise working together is becoming more important,” said George Lambertnational construction and real estate sector leader at Sorren. “CDP brings specialized industry knowledge and decades of experience that strengthen how we serve our contractors, while creating opportunities to bring that same expertise to clients across other industries.”
“Construction is one of Sorren’s largest industries, and our clients are increasingly looking for help connecting technology, operations, and financial performance,” said Chad BackMP of digital advisory at Sorren. “CDP brings deep expertise in project management technology, implementation, integration and training that complement our accounting, tax and advisory services. Together, we are better positioned to help clients align technology, operations and financial performance while continuing to deliver the personalized service both organizations are known for.”
Capstone Partners served as financial advisor to CDP in the transaction.
Source: insidepublicaccounting.com
