Blue & Co

What Blue & Co does

Blue & Co., LLC is a privately held regional accounting and consulting firm founded in 1970 and headquartered in Carmel, Indiana. The firm operates as a Top 75 U.S. accounting practice with 251-500 employees distributed across 17 offices in six states (Indiana, Kentucky, Tennessee, Ohio, Texas, and Michigan), delivering three core service lines: Assurance Services (audit, employee benefit plan audits, SOC reporting, lease standard compliance), Tax Consulting, and Consulting Services spanning business advisory, employee benefits, healthcare consulting, cybersecurity & IT, and transaction advisory. The firm pursues a vertical specialization strategy across 12+ industries, with healthcare serving as its deepest practice area, staffed by 145+ professionals dedicated to reimbursement optimization, revenue cycle management, 340B consulting, and managed care contracting.

Blue & Co. generates revenue through engagement-based professional services pricing with multi-year contracts, distributed across diversified customer segments including closely-held businesses, healthcare organizations (dental practices, physician practices, post-acute care), not-for-profits (50+ fraternal organizations, foundations, higher education institutions), construction firms, manufacturing and distribution businesses, retail automotive dealerships (40+ clients), and technology startups. The firm leverages third-party technology platforms including CCH Axcess (Wolters Kluwer) for tax preparation and the HubSync Portal for client collaboration and document management. Its go-to-market is relationship-led and sales-driven, combining referral networks, industry events and sponsorships, thought leadership content, and direct field engagement through its regional office network.

The firm has executed a programmatic acquisition-led growth strategy, completing three acquisitions in approximately six years: Clarus Partners (December 2019), Alerding CPA Group (December 2022), and D & Co. (February 2026). The D & Co. acquisition added four Texas offices, 40 employees, and six directors while deepening healthcare consulting capabilities. Blue & Co. is owned and controlled by its partners/members and has not pursued external private equity or venture capital funding, instead funding expansion through partner capital and acquisition proceeds. Strategic partnerships with Blue Pioneer Consulting (cybersecurity/IT), One2800 Capital Advisors (capital advisory), and Blue Benefits (employee benefits) extend the firm's service surface beyond core CPA offerings.

Name

Blue & Co

Legal name

Blue & Co., LLC

Website

https://blueandco.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Blue & Co., LLC is a Top 75 regional accounting and consulting firm operating 17 offices across six states, serving closely-held businesses, healthcare organizations, not-for-profits, and other industries with assurance, tax, healthcare consulting, cybersecurity, and transaction advisory services.

Ownership category

akta.pro rank

Product category

Accounting and Professional Services

NAICS

Management Consulting Services (54161), Human Resources Consulting Services (541612)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

M&A Advisory (Buy-side/Sell-side) (BPAHADAC)

akta.pro secondary industries

Healthcare Clinical & Allied Health Staffing (BPACADAJ), Digital Workplace & Collaboration Consulting (BPAHAEAH)

Keywords

• Accounting services
• Tax consulting
• Audit assurance
• Healthcare consulting
• Transaction advisory

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Assurance Services: Audit, review, and compilation services including employee benefit plan audits, SOC reporting, and lease standard compliance
2. Tax Consulting: Tax compliance and advisory services for individuals and organizations across various industries
3. Consulting Services: Business consulting including employee benefits consulting, healthcare consulting, planning solutions, cybersecurity & IT consulting, and transaction advisory services
4. Industry-Specific Services: Specialized services for healthcare, dental practice, physician practice management, post-acute care, not-for-profit, fraternal organizations, higher education, construction, manufacturing, retail automotive, and technology startups

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Blue & Co. is a regional accounting and consulting firm providing audit and assurance services, tax consulting, and advisory services across more than 12 industry verticals. Its Healthcare Consulting practice is a major differentiator with 145+ dedicated professionals serving hospitals, dental practices, physician practices, and post-acute care providers with reimbursement, revenue cycle, and 340B expertise. The firm also delivers transaction advisory, cybersecurity/IT consulting (via Blue Pioneer Consulting), employee benefits consulting, and planning solutions, supported by client portal technology.

Product overview

Blue & Co., LLC is a regional accounting and consulting firm offering a comprehensive suite of professional services organized into three core service lines: Assurance Services (including employee benefit plan audits, lease standard compliance, and SOC reporting), Tax Consulting, and Consulting Services. The consulting practice encompasses Business Services, Employee Benefits Consulting, Planning Solutions, Healthcare Consulting, Cybersecurity & IT Consulting (via Blue Pioneer Consulting partnership), and Transaction Advisory Services. The firm serves multiple industries including Healthcare (with specialized dental practice, physician practice, and post-acute care consulting), Not-for-Profit (with Form 990 solutions, online assessments, and financial health checkups), Construction, Manufacturing & Distribution, Real Estate, Higher Education, Technology Startups, and others. The firm operates 17 offices across six states and provides client access through the HubSync Portal and Blue Portal platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Assurance Services

Quantifiable outcome

• Over 50 fraternal organizations served
• +2 more outcomes

Named customers12 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• CCH Axcess (Wolters Kluwer)coreTechnology or IntegrationTechnology partnership providing CCH Axcess platform for client portal access, tax preparation, and document management. Blue & Co. has entered into a Master Agreement with CCH Incorporated, a Wolters Kluwer business, to provide clients access to the Blue Portal and related services.
• Blue Pioneer ConsultingcoreStrategic or Co-development PartnerStrategic partnership for cybersecurity and IT consulting services. Blue Pioneer Consulting works alongside Blue & Co. management teams to review, strengthen, and develop IT and cybersecurity policies. Joint go-to-market for cybersecurity assessments and incident response planning.
• North-American Interfraternity ConferencecoreGTM or Marketing PartnerAnnual sponsor of the North-American Interfraternity Conference, a major industry organization for fraternal life and leadership.
• National Panhellenic ConferencecoreGTM or Marketing PartnerAnnual sponsor of the National Panhellenic Conference supporting sorority organizations and women's leadership.
• Fraternal Executives AssociationcoreGTM or Marketing PartnerAnnual sponsor of the Fraternal Executives Association supporting professional development in the fraternal industry.
• AICPAminorGTM or Marketing PartnerAffiliation with American Institute of Certified Public Accountants for SOC reporting services and professional standards.
• Blue BenefitsminorStrategic or Co-development PartnerAffiliate organization providing employee benefits consulting services as part of comprehensive client solutions.
• One2800 Capital AdvisorsminorChannel Partner/ Reseller/ DistributorAffiliate partner for capital advisory and investment banking services complementing Blue & Co.'s transaction advisory practice.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Crowe LLP: Top 10 US accounting and advisory firm with deep healthcare consulting, not-for-profit, and transaction advisory practices. Most comparable peer given overlapping healthcare specialization and similar full-service mid-market positioning.
• Wipfli LLP: Top 20 US accounting firm with strong healthcare, manufacturing, and not-for-profit practices across the Midwest. Closely comparable in vertical specialization and regional footprint overlap with Blue & Co.
• Plante Moran: Top 15 US accounting and business advisory firm headquartered in the Midwest with similar healthcare, manufacturing, and private equity advisory practices. Comparable in scale, regional focus, and service-line breadth.
• Forvis: Top 10 US CPA firm formed from BKD + Dixon Hughes Goodman merger with deep healthcare and not-for-profit practices. Comparable vertical specialization and recent roll-up growth strategy.
• Eide Bailly LLP: Top 25 US accounting firm with strong healthcare, construction, and not-for-profit practices across the Midwest and Western US. Comparable size, vertical mix, and acquisition-led growth approach.
• Rehmann: Top 50 US accounting and advisory firm with strong healthcare, manufacturing, and not-for-profit practices based in the Midwest. Comparable regional presence and specialty practice model.
• Doeren Mayhew: Top 100 US CPA firm with deep healthcare, construction, and energy practices; has pursued a serial-acquisition strategy. Comparable size and roll-up growth playbook.
• Somerset CPAs: Indianapolis-based regional CPA firm serving closely-held businesses and not-for-profits. Geographic peer in the Indiana market that competes for similar clients.
• Katz, Sapper & Miller: Indianapolis-based CPA and advisory firm with healthcare, not-for-profit, and closely-held business practices. Direct local market competitor with comparable service mix.
• Clark Schaefer Hackett: Ohio-based Top 100 CPA firm with healthcare, not-for-profit, and construction practices. Geographic peer in adjacent Midwest markets with comparable vertical mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/blueandco
• Xx.com/blue_cpa

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Blue & Co