Lummis Consulting Services, LLC (LCS) Market Research Report

Company Overview

• Name: Lummis Consulting Services, LLC (LCS)

• Mission: LCS aims to treat clients the way they themselves want to be treated and to deliver high-quality work products efficiently. They turn numbers into narrative, equipping clients with the necessary information to make sound decisions.

• Founded: 2012

• Founder: Max Lummis, CPA, CVA, CFE

• Key People:

• Max Lummis - Founder & Managing Shareholder

• Travis Sadler - Managing Consultant & Shareholder

• Olya Lumelleau - Principal Consultant & Shareholder

• Todd Moser - Principal Consultant and Fractional CFO

• Brandy Lummis - CFO & Shareholder

• Timothy Zimet - Managing Consultant

• Others include: Rabiga Baimukhametova, Clark Crookston, Dave Bourgoin, Dennis Irwin, Apurva Inamdar

• Headquarters: 550 Westcott St, Suite 450, Houston, Texas 77007

• Number of Employees: No information is available

• Revenue: No information is available

• Noteworthy Aspects: LCS is renowned for its expertise in forensic accounting and advisory services, especially in M&A due diligence, transaction accounting, and expert witness services.

Products and Services

M&A Due Diligence (Buy-Side)

• Description: LCS provides quality of earnings assessments and tax diligence with a specific focus on sustainability, working capital needs, and Adjusted EBITDA. They are recognized as a lower middle market QoE firm.

• Key Features: Financial peace of mind for searchers, independent sponsors, and traditional private equity groups.

M&A Due Diligence (Sell-Side)

• Description: LCS assists sellers with identifying potential accounting red flags before going to the market, enhancing the process with more offers, faster closings, and better valuations.

• Key Features: Early identification of potential accounting issues, enhanced credibility of financial information.

Transaction Accounting

• Description: Covers the purchase price allocation, closing balance sheet analysis, and opening balance sheet workbook.

• Key Features: Ensures comprehensive accounting coverage during deal closings.

Catastrophe Loss Accounting

• Description: LCS acts as experts in economic damage and claim settlements for man-made and natural disasters.

• Key Projects: Past engagements include the Deep Water Horizon Oil Spill and the COVID-19 Pandemic.

Business Valuation

• Description: Specializes in appraising closely-held businesses and aiding transactions.

• Key Features: Certified by NACVA.

Expert Witness Services

• Description: Provides expert advice in court for various scenarios including lost profits and fraud investigation.

• Key Features: Expertise in state and federal court cases.

Recent Developments

• New Products/Features: No specific new products or features have been noted recently.

• New Partnerships: No recent partnerships have been mentioned.

• Key Developments:

• LCS welcomed Timothy Zimet as a new Managing Consultant.

• LCS was recognized as a Top 10 Financial Transaction Advisory Services Provider in 2023.

• LCS sponsored the M&A Launchpad Conference in Houston, Texas, as a gold sponsor.

Conclusion

Lummis Consulting Services, LLC continues to be a prominent player in the forensic accounting and advisory sector, particularly in M&A due diligence, transaction accounting, and as expert witnesses. Despite the competitive landscape, LCS strives to provide exceptional service with a focus on technical proficiency and practical experience across its dealings. LCS’s recent recognitions and strategic additions to the team are testament to its commitment to excellence and growth within the market.