Jul 9th 2012
Hydrogen and oxygen are essential elements, and together they make a big splash. The same can be said for the merger of Plante Moran and Blackman Kallick, two well-respected accounting, tax, and consulting firms who are making a big splash in Chicago.
Plante Moran and Blackman Kallick, LLP, announced June 28 they will merge effective July 1, 2012, to form a leading Chicago firm focused on the needs of Midwest middle-market companies.
The combined firm will be the seventh largest accounting firm in Chicago, with three local offices serving more than 5,000 clients, primarily in the manufacturing, real estate and construction, financial institutions, private equity and venture capital, not-for-profit, services, and technology industries.
"When I think about this merger, I can't help but think about the synergy it creates," said Plante Moran managing partner Gordon Krater. "The combination strengthens both firms beyond the market leadership position they currently enjoy and raises the bar to create Chicago's preeminent accounting, tax, and consulting firm for clients and staff. It's incredibly exciting."
"Middle-market companies are a leading indicator of America's future competitiveness," Krater added. "Middle-market companies today require a higher level of sophistication and expertise in dealing with the complex issues they face as they expand globally, meet new competitors, grapple with financing alternatives, and plan for succession. Our combination establishes us as a top resource in Chicago, focused on this vital middle-market segment."
Plante Moran and Blackman Kallick have served business leaders throughout the Midwest for nearly 140 years combined. Together, they will employ 2,000 staff members in twenty-two offices in Illinois, Michigan, and Ohio and three offices internationally. Combined revenue for both firms in 2011 was approximately $375 million.
Steven Schneider, managing partner for Blackman Kallick, will oversee the newly joined offices in downtown Chicago.
"Through this agreement, we are reinforcing our long-standing and strong commitment to Chicago businesses, our staff, and the community," Schneider said. "Chicago is poised, at this moment, for incredible growth as well as increased global recognition as an economic engine. By means of this merger, we are even better positioned to help our clients, both present and future, take advantage of this unique opportunity."
Several organizations and media outlets have recognized both firms' cultures and management. Plante Moran has been named one of the best places to work by FORTUNE for fourteen years in a row, and locally by Crain's Chicago Business in 2012 as a best place to work and a best place to work for women. Additionally, Inside Public Accounting named Blackman Kallick as a "Best of the Best" firm each of the last five years.
For more information, visit www.bkmerger.plantemoran.com.