Katz , Sapper & Miller

What Katz , Sapper & Miller does

Katz, Sapper & Miller (KSM) is an employee-owned accounting and advisory firm headquartered in Indianapolis, Indiana, founded in 1940. The firm delivers three core service lines — Advisory, Tax, and Audit & Assurance — to mid-market and enterprise clients through approximately 800 professionals and 80+ partners across seven US offices (Indianapolis, Chicago, Cincinnati, Evansville, Fort Wayne, Grand Rapids, and New York). It is ranked the 42nd largest US accounting firm by Accounting Today and maintains vertical specializations across 15+ industries including construction, healthcare, dealerships, private equity, real estate, government, manufacturing, family office, insurance, financial services, technology, transportation, veterinary, not-for-profit, hospitality, and life sciences.

KSM generates revenue through fee-based professional service engagements across audit and assurance (financial statement audits, employee benefit plan audits, SOC reporting, single audits), tax (planning, compliance, international, state and local, R&D credits), and advisory (transaction advisory, valuation, ESOP consulting, IT, healthcare consulting, outsourced finance and accounting, location advisory, and restructuring). Recent acquisitions have added differentiated capabilities: Noble Consulting Services (insurance regulatory consulting serving state insurance regulators, acquired 2021), Shanholt Glassman Klein Kramer & Co. (NYC real estate tax, 2024), ValueKnowledge (valuation, 2024), MichaelSilver (Chicago regional platform, 2025), and Charter Capital Partners (launched KSM Corporate Finance investment banking line, 2026). The firm is 100% employee-owned through an ESOP, with most team members automatically enrolled on day one. The technology stack is third-party and workflow-oriented — HubSync for tax document exchange, ShareFile for secure file sharing, QuickFee and SmartPay for client payments, and Google reCAPTCHA for web security — with no proprietary AI/ML capabilities disclosed. Marketing is driven by industry-focused thought leadership, an extensive blog and whitepaper library, CPE-eligible webinars, and active participation in trade associations such as CFMA, AGC, and NIADA.

Name

Katz , Sapper & Miller

Legal name

KSM Business Services, Inc.

Website

https://ksmcpa.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Katz, Sapper & Miller (KSM) is an employee-owned, Indianapolis-based accounting and advisory firm with 800+ professionals delivering audit, tax, and advisory services across 15+ industries through seven US offices, ranked the 42nd largest US accounting firm.

Ownership category

akta.pro rank

Product category

Professional Accounting and Advisory Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Management Consulting Services (54161), Portfolio Management and Investment Advice (523940)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Management Consulting Services (8742)

akta.pro primary industry

Financial Reporting & Technical Accounting Advisory (GAAP/IFRS) (BPAHABAF)

akta.pro secondary industries

Tax Operations Support (Indirect Tax, Withholding, Compliance Admin) (BPAAAGAI), Family Office Services (Single & Multi-Family Office) (FSABADAF), Private Banking & UHNW Wealth Advisory (FSAEABAC)

Keywords

• Audit assurance services
• Tax advisory services
• Business consulting
• Outsourced accounting
• Investment banking advisory

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Audit & Assurance Services: KSM provides audit and assurance services including financial statement audits, employee benefit plan audits, agreed-upon procedures, reviews, compilations, and single audits. These are recurring professional service engagements typically billed on a fixed fee or time-and-materials basis.
2. Tax Services: KSM offers comprehensive tax services including tax planning, compliance, consulting, and preparation for businesses and individuals. Services span business tax, international tax, state and local tax, private client tax, R&D tax credits, and more.
3. Advisory Services: KSM provides advisory services including accounting advisory, ESOP consulting, healthcare consulting, IT services, insurance regulatory consulting, investment banking, outsourced finance and accounting, restructuring, transaction advisory, transportation consulting, valuation, and veterinary consulting. These are fee-based professional service engagements.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

Katz, Sapper & Miller (KSM) is an employee-owned accounting and advisory firm providing audit and assurance, tax, and advisory services to businesses, not-for-profits, governmental entities, and high-net-worth individuals. The firm operates across 15+ industry verticals including construction, healthcare, dealerships, financial services, real estate, manufacturing, and government, supported by 800+ CPAs and advisors across seven U.S. offices. KSM has expanded its service portfolio through acquisitions to include insurance regulatory consulting (Noble Consulting) and investment banking (KSM Corporate Finance).

Product overview

KSM (Katz, Sapper & Miller) is an employee-owned accounting and advisory firm offering a comprehensive suite of professional services organized into three core service lines: Advisory Services, Tax Services, and Audit & Assurance Services. The firm's advisory practice encompasses industry-specific consulting across construction, dealerships, family office, financial services, government, healthcare, hospitality, insurance, life sciences, manufacturing, not-for-profit, private equity, real estate, technology, transportation, and veterinary sectors. KSM has expanded through strategic acquisitions including Noble Consulting Services (insurance regulatory consulting) and Charter Capital Partners (now KSM Corporate Finance for investment banking). The firm also provides client-facing digital tools through its Client Access Portal, including HubSync for tax workflows and ShareFile for secure document exchange. KSM serves clients across 800+ team members from offices in Indianapolis (headquarters), Chicago, Cincinnati, Evansville, Fort Wayne, Grand Rapids, and New York.

Differentiator

Problem solved

Functional benefit

Brands

• KSM Corporate Finance: Investment banking and M&A advisory services operating from Grand Rapids office, serving middle-market businesses throughout the Midwest and beyond.
• Noble Consulting

Products and services

• Advisory Services Comprehensive advisory services helping business leaders navigate change, improve performance, and make informed decisions across strategy, operations, technology, and transactions. Includes specialty practices in accounting advisory, ESOP consulting, healthcare consulting, IT services, insurance regulatory consulting, investment banking, outsourced finance and accounting, restructuring, transaction advisory, transportation consulting, valuation, and veterinary consulting.
• Tax Services Tax planning and compliance services helping organizations and individuals navigate complexity, manage risk, and identify opportunities through proactive planning and technical expertise. Services span business tax, international tax, state and local tax, private client tax, R&D tax credits, and specialized tax areas for businesses, not-for-profits, and high-net-worth individuals.
• Audit and Assurance Services Audit and assurance services delivering clarity, quality, and insight through rigorous, collaborative approaches. Includes financial statement audits, employee benefit plan audits, agreed-upon procedures, reviews, compilations, single audits, and SOC reporting for privately held companies, not-for-profit organizations, and governmental entities.
• Noble Consulting Services (Insurance Regulatory Consulting) Insurance regulatory consulting services providing financial examination, market regulation, risk-focused examinations, regulatory supervision, and actuarial services to insurance regulators throughout the United States. Operates as a KSM subsidiary maintaining its brand and Indianapolis location.
• KSM Corporate Finance (Investment Banking) Investment banking and M&A advisory services for middle-market businesses throughout the Midwest and beyond. Includes sell-side advisory, buy-side advisory, capital advisory, and ESOP advisory, integrated with KSM's tax and audit capabilities. Operates from the Grand Rapids office. Broker-dealer services are offered separately through M&A Securities Group, Inc. (member FINRA/SIPC).

Quantifiable outcome

• OVES (Ohio Valley Electrical Services) secured approximately $415,000 in state and local incentives for new headquarters construction through KSM Location Advisors
• +3 more outcomes

Named customers4 records

Segments16 records

Ideal customer profiles9 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• SpotminorGTM or Marketing Partner · 13 May 2026Spot, a third-party logistics company based in Indianapolis, achieved SOC 2 Type 2 attestation following an independent examination by KSM. The attestation validates Spot's information security policies, procedures, and controls meet AICPA Trust Services Criteria for security and availability.
• Charter Capital PartnerscoreStrategic or Co-development Partner · 22 January 2026KSM acquired Grand Rapids-based investment banking firm Charter Capital Partners and launched KSM Corporate Finance. Mike Brown and Mark Streekstra joined as partners leading the 13-member Charter team. The acquisition established KSM's investment banking service line serving middle-market businesses throughout the Midwest and beyond. Charter Growth Capital continues operating independently.
• MichaelSilvercoreStrategic or Co-development Partner · 31 July 2025KSM completed its entry into the Chicago market through the addition of MichaelSilver, a Deerfield, Illinois-based advisory, tax, and assurance firm with over 80 years of history. The deal brought 60 professionals and 14 partners. MichaelSilver operates as KSM's Chicago regional office fully integrated into the KSM brand, with employees becoming employee owners through KSM's ESOP.
• Shanholt Glassman Klein Kramer & Co. (SGKK)coreStrategic or Co-development Partner · 1 November 2024KSM expanded its New York office through the addition of Shanholt Glassman Klein Kramer & Co. (SGKK), one of the 250 largest CPA firms in the U.S. SGKK provides accounting, tax, and consulting services to local, national, and global businesses, strengthening KSM's capabilities in real estate tax advisory services.
• Noble Consulting Services Inc.coreStrategic or Co-development Partner · 4 October 2021KSM acquired Noble Consulting Services Inc., a national insurance regulatory consulting firm based in Indianapolis. Noble operates as a subsidiary maintaining its brand and location, providing KSM with expanded insurance regulatory consulting capabilities including financial examinations, market regulation, and actuarial services for insurance regulators throughout the United States.
• M&A Securities Group, Inc.minorChannel Partner/ Reseller/ DistributorBroker-dealer services are offered through M&A Securities Group, Inc., a separate entity from Charter Capital Partners and Katz, Sapper & Miller. M&A Securities Group is a member of FINRA/SIPC, providing securities-related services complementary to KSM's investment banking offerings.
• PrimeGlobalminorStrategic or Co-development PartnerKSM is a member of PrimeGlobal, a worldwide association of independent accounting firms and business advisors. Each independent member of PrimeGlobal is a separate firm and an independent legal entity. PrimeGlobal provides access to global resources and collaboration opportunities with other member firms.
• Your Part-Time Controller (YPTC)minorStrategic or Co-development PartnerKSM partnered with Your Part-Time Controller (YPTC) to co-present 'Know Your Numbers, Plan Your Future: Financial Ratios and Scenario Planning for Nonprofits' event. The partnership combines KSM's financial expertise with YPTC's nonprofit financial management knowledge.
• Indiana University Lilly Family School of PhilanthropyminorStrategic or Co-development PartnerKSM partnered with Christina Daniken from the Indiana University Lilly Family School of Philanthropy for 'The State of Philanthropy' webinar. The school is the managing editor of Giving USA Foundation's annual report on philanthropy, providing research-backed insights for nonprofit clients.

Scale indicators11 records

Recent moves10 records

Expansion highlights4 records

Emerging players

• Forvis Mazars (formerly FORVIS): Top-8 U.S. accounting firm formed by recent merger with strong Midwest presence and comparable mid-market focus, providing direct competitive overlap with KSM's geography and client segment.

Broad incumbents

• Grant Thornton US: Top-7 U.S. accounting firm with comparable mid-market advisory and tax services but broader industry coverage; competes directly for the same middle-market clients KSM targets.
• BDO USA: Top-10 global accounting network with U.S. operations serving middle-market and larger enterprises; broader portfolio but overlaps with KSM in tax, audit, advisory, and industry verticals like healthcare and private equity.

Direct peers

• Wipfli LLP: Top-20 U.S. accounting firm with strong mid-market focus and similar industry verticals (construction, manufacturing, healthcare, dealerships), making it a closely comparable peer in size and go-to-market approach.
• CliftonLarsonAllen (CLA): Top-10 U.S. accounting firm serving middle-market and closely-held businesses with comparable industry specialization and growth-through-acquisition strategy; similar geographic footprint in the Midwest.
• Plante Moran: Largest U.S. employee-owned accounting and advisory firm with a similar ESOP model, serving middle-market clients across industries including manufacturing, healthcare, and financial services — directly comparable to KSM on ownership structure, client segment, and full-service tax/audit/advisory offering.
• RSM US: Top-5 U.S. accounting firm with strong middle-market focus and comparable industry verticals (PE, healthcare, construction, manufacturing); larger scale but similar mid-market client base and full-service offerings.
• Crowe LLP: Top-10 U.S. accounting and advisory firm serving mid-to-large enterprises across industries comparable to KSM, with overlapping tax, audit, and advisory capabilities and similar focus on industry-specific verticals.
• Baker Tilly US: Top-15 U.S. accounting and advisory firm with comparable industry-vertical approach (construction, healthcare, manufacturing, private equity) and similar advisory service expansion strategy including transaction advisory and investment banking.
• Moss Adams: Top-15 U.S. accounting firm with similar industry specialization (construction, healthcare, manufacturing, dealerships, private equity) and comparable advisory service depth for middle-market clients.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ksm-cpa
• Xx.com/ksmcpa
• Facebookfacebook.com/katzsappermillerllp

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 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 Katz , Sapper & Miller