Marshall & Stevens Acquires D.R. Payne & Associates to Expand Advisory Services

Marshall & Stevens, a leading independent provider of valuation advisory, transaction consulting, and litigation support services, has announced the acquisition of D.R. Payne & Associates (DRPA), an Oklahoma City-based financial consulting firm. This strategic move represents the firm’s eighth acquisition since 2023, significantly strengthening its nationwide capabilities in fiduciary advisory, forensic accounting, restructuring, and more. The leadership of DRPA will continue in their roles, reinforcing continuity for clients and deepening Marshall & Stevens’ consulting bench.

1. Strategic Expansion through Acquisition:

• The acquisition of DRPA underscores Marshall & Stevens’ aggressive growth strategy to become a national leader in financial consulting.
• With eight acquisitions since 2023, the firm is scaling its expertise and service offerings to meet the evolving demands of clients across the U.S.
• DRPA’s integration enhances Marshall & Stevens’ capabilities in the central U.S., particularly in complex financial and fiduciary matters.

2. DRPA’s Specialized Capabilities:

• DRPA is known for its in-depth work in:
  • Restructuring and fiduciary advisory
  • Forensic accounting
  • Economic damages analysis
  • Valuation for litigation and transactional purposes
  • Operational and tax consulting
• These services complement and expand Marshall & Stevens’ core offerings, particularly in high-stakes, complex financial engagements.

3. Leadership Continuity and Expertise:

• David R. Payne, CPA/ABV, CIRA/CDBV, CTP, ASA, and Ann M. Payne, CPA, CIRA/CDBV, FABFA, will continue with the firm post-acquisition.
• Their continued leadership ensures seamless integration and continued excellence in client delivery.
• The combined team will leverage Marshall & Stevens’ national platform to scale DRPA’s specialized expertise.

4. Strengthening Multi-Disciplinary Capabilities:

• With DRPA onboard, Marshall & Stevens now offers:
  • In-house specialists in Fairness and Solvency Opinions
  • Real estate valuation
  • Transfer pricing
  • Quality of earnings analysis
• Clients will benefit from end-to-end support across valuation, compliance, and strategic transactions.

5. Executive Perspective and Vision:

• “This combination allows us to offer in-house specialists… to our clients,” said Ann Payne, citing the benefits of being part of a broader firm with national expertise.
• “DRPA offers a valuable contribution to the depth and breadth of Marshall & Stevens’ professional services,” added Mark Santarsiero, President and CEO.
• The acquisition is framed as a collaborative enhancement rather than a simple expansion—building a stronger, more versatile firm.

6. A Legacy of Trusted Advisory Services:

• Founded in 1932, Marshall & Stevens has been a trusted advisor in:
  • Mergers and acquisitions
  • Divestitures and restructurings
  • Financial reporting and tax planning
  • Litigation support and insurance claims
• The firm continues to serve both public and private enterprises, along with institutional investors and advisory partners.

7. Positioning for Nationwide Growth:

• With a growing national footprint and a strong acquisition pipeline, Marshall & Stevens is positioning itself as the go-to independent valuation and consulting firm for complex business challenges.
• The DRPA acquisition supports the firm’s goal to bring expert advisory solutions closer to clients in all regions and sectors.

The acquisition of D.R. Payne & Associates marks a strategic milestone for Marshall & Stevens in its mission to build a comprehensive, nationally scaled valuation and consulting platform. By uniting two firms with deep roots in financial advisory, the partnership delivers enhanced capabilities in fiduciary consulting, forensic analysis, and restructuring advisory—services that are increasingly vital in today’s economic climate. With leadership continuity, complementary strengths, and a shared vision of client-centric excellence, Marshall & Stevens is solidifying its position as a premier independent advisor in the financial services landscape.