As several regional accounting firms hastened to complete their consolidation plans before the new fiscal year, a dispute over the future of an Annapolis, Maryland-based Sturn Wagner Lombardo & Co. came to a head.

Bethesda, Maryland-based Watkins Meegan bolstered its Annapolis office by adding several accounting, tax and business consulting experts from Sturn Wagner Lombardo. Founding partner Kurt Sturn, along with about five to 10 other professionals, joins Watkins Meegan, in a deal that the Bethesda firm initially described as a merger.

"With this merger, we're able to expand the depth and breadth of our accounting, tax and business advisory expertise while also building our presence and reach in the Annapolis market," said Watkins Meegan managing member Mike Micholas, in a statement. The transaction takes effect at the end of the year.

In speaking with Mergers & Acquisitions on Monday, Sean Roddy, chief operating officer of Watkins Meegan, recanted previous statements made by the firm, clarifying that the lift-out was “not a merger.” Sturn joined Watkins Meegan on January 1 and will bring “either his entire book of business or part of it,” Roddy said.

In addition, Mike Nicholas left a voice message for this reporter, also emphasizing that the firm’s decision to hire Sturn is not viewed as a merger.

The recent explanations may be prompted by concerns voiced by the remaining management of Sturn Wagner Lombardo. On Thursday, Andrew Lombardo, co-founder of Sturn Wagner Lombardo, told Mergers & Acquisitions that recent press reports of Sturn’s exit from the firm contained “several inaccuracies," but declined to mention specifics.

Last week, Roddy told the Washington Business Journal that Sturn Wagner Lobardo began dissolving several weeks ago. As of a couple of years ago, it had about 33 accountants, though that has been reduced to about 20, Roddy told the publication.

Lombardo told Mergers & Acquisitions that the firm will merge with SRM & Company, LLC, creating a new entity, Lombardo Wagner Sticher & Co. The management teams of both firms will “substantially remain intact,” Lombardo said. The firm, which will focus largely on M&A accounting and succession planning, will retain 87 percent of Sturn Wagner Lombardo's former employees.

Other recent accounting firm mergers include Cleveland, Ohio-based CBIZ, Inc.’s purchase of Goldstein Lewin & Company, a Boca Raton, Florida-based accounting firm, effective January 1. Earlier this month, Maryland accounting firms DeLeon & Stang, CPAs & Advisors, with Hull & Associates CPAs earlier this month. The new entity will operate as DeLeon & Stang, with offices in Gaithersburg and Annapolis. In addition, Minneapolis, Minnesota-based ccounting firm LarsonAllen LLP will merge with the senior citizen services consultancy Third Age Consulting. Philadelphia-based Third Age conducts planning, research, management, and marketing services for senior housing and senior care providers.

In addition to Sturn Wagner Lombardo’s headquarters in Annapolis, the firm has offices in Baltimore and Washington. Sturn Wagner Lobardo was founded in 1990. Calls placed to SRM were not returned by press time.

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