New CPA firm will be Kentucky's largest
Posted by AccountingWEB on 3667
Two Louisville accounting firms will combine November 1 to form Kentucky’s largest CPA firm, Mountjoy Chilton Medley, with 214 employees.
Michael Mountjoy, managing partner of Mountjoy & Bressler, and Diane Medley, managing partner of Chilton & Medley, will share leadership duties at the new firm.
Medley called the merger “a perfect match.” She said in a statement, “Our firms are different, but our strengths definitely complement each other. And there are many similarities. Both firms have the same values – an emphasis on the team approach, an entrepreneurial spirit and high ethical standards. The more we talked about it, the more sense it made.” Discussions began in May over a casual lunch, she said.
Mountjoy said the merger was about providing better services to clients while providing the firm a way to grow. “The end result will be more than just the sum of its parts,” he said in a statement. “This partnership will bring together the best practices of two large local firms to form one outstanding Kentucky firm with more resources so we can provide better service to our clients and more opportunities for our people.”
Mountjoy & Bressler, which began in 1980, has more than 100 employees in four Kentucky locations: Louisville, Lexington, Covington, and Frankfort. Chilton & Medley, established in 1988, was Louisville’s largest accounting firm with 97 staff. No decision has been made on the location of the new firm. “The office will be wherever we find appropriate space to all be together,” Mountjoy said.
After the merger, clients will have access to more than 100 CPAs. “Clients will still work directly with the same person the have always worked with, but now we’ll have internal contacts to help with issues we might not have been able to in the past,” Medley said.
No layoffs are expected, and all partners from both firms will retain their partner status in the new firm.