Leslie Turk

Postlethwaite & Netterville acquires Veazey & Co.

by Leslie Turk

Postlethwaite & Netterville, which announced its expansion into Lafayette late last year, has apparently been quietly working a deal to enter the market with a book of business. The Baton Rouge-based public accounting firm, the largest in the state and among the top 100 in the country, has acquired long-established Lafayette CPA firm Veazey & Company. The acquisition immediately brings P&N's local office to 10 employees, including five CPAs and three accountants.

The office, located at 114 Representative Row, is being led by CPA Eustis Corrigan, who serves as managing director. Veazey & Company partner Richard Latiolais is staying on, but the buyout represents a retirement from public accounting for firm founder and respected CPA Bobby Veazey. On Monday Veazey joins local oilfield service giant Knight, the world's largest privately held rental and fishing tool company, as chief financial officer. He replaces Mike Hamza, who has retired.

Knight has been one of Veazey's clients for more than two decades. When company President and CEO Mark Knight approached Veazey about the position during the summer, Veazey initially declined the offer. Later in the year, however, after Postlethwaite expressed an interest in acquiring Veazey & Company as part of its expansion into Lafayette - and was able to snag Corrigan to head the office - Veazey had a change of heart. Veazey says he was confident Corrigan could ensure a smooth transition. "It was an emotional thing to walk away from my employees, my clients," says the 55-year-old, who has practiced public accounting in Lafayette for more than three decades.