Mergers

Community News

International Associations to Form Larger Alliance

Two major international accounting organizations, Mazars and Moores Rowland International, have agreed in principle to merge in 2007 as a larger, global association.Advertisement
Community News

Accounting Firms Advise On Corporate Deals Worth Billions

Accounting firms have probably always been involved in corporate deals but building a presence has taken time, according to Accountancy Age. The Toshiba deal for British Nuclear Fuels plc is currently the largest deal involving any accounting firm, at $5.4 billion. Mr. Atsutoshi Nishida said in Toshiba’s prepared statement, “It is with pride and pleasure that we will start to work with Westinghouse, a prominent industry leader, in the strategic growth area of nuclear power.
Community News

Moss Adams to Acquire Scottsdale Firm

Seattle’s Moss Adams LLP will grow larger and expand into a new market when it acquires Epstein Weber & Conover PLC of Scottsdale, Ariz., on Jan. 1, the company announced.The Seattle-based Moss Adams accounting and consulting firm is currently rated as 12th-largest in the U.S.
Community News

Asia-Pacific Business Forum Opens in Viet Nam

Ho Chi Minh City saw the opening of the Asia-Pacific Small and Medium-sized Enterprise (SME) Best Practice Forum last week. The Association of Chartered Certified Accountants (ACCA) is organizing the forum, according to VietNamNet Bridge. The Ho Chi Minh City People’s Committee reports that the two-day forum, “Promoting, supporting and investing in Asia-Pacific SMEs” is expecting some 500 attendees. This number includes 150 coming from other countries in the region, the ASEAN Federation of Accountants and The International Federation of Accountants (IFAC).
Community News

Merger Puts Firm in Top 10 in Indianapolis

Two privately held accounting firms have merged, creating one of the largest private firms in the Indianapolis area. Zurface, Sanders & Rasor and LM Henderson & Company PC joined October 1. The new firm is operating under the name LM Henderson and Co. LLP, with approximately 40 employees.ZSR had been ranked 25th in the area, based on number of employees, by the Indiana Business Journal Book of Lists, while Henderson was placed at 15th, which was among the highest for private, local firms.
Community News

Mid-Size Firms Unite to Capture Big Four Business

A national network of 22 mid-size accounting firms is marketing itself as one company to draw business away from the Big Four.The network is called Baker Tilly USA, and it opened for business Monday, offering tax, audit and consulting services under one brand name, according to the Washington Post. "We're coming at a time when the business market is crying out for alternatives to the Big Four, and we believe our structure can fill that void," Geoff Barnes, chief executive and president of Baker Tilly International, told the Post.
A&A

New FASB Exposure Drafts Address Not-for-Profit Accounting, Usability Issues

On Monday, the Financial Accounting Standards Board (FASB) issued two Exposure Drafts intended to improve the accounting and disclosures for mergers and acquisition (M&A) activities among not-for-profit organizations. The deadline for submitting comments on the new Exposure Drafts is January 29, 2007.“The not-for-profit sector makes up a sizable portion of reporting entities and GDP in the U.S.
Community News

More Firms Combine – Goal is Long-term Growth

Mergers have been announced recently in Indiana and Connecticut between firms with similar cultures looking to expand their existing client service capabilities and establish a stronger presence in their regions.
Community News

Acquisition Enhances Grant Thornton’s Recovery & Reorganization Practice

Grant Thornton LLP has acquired the Restructuring and Performance Improvement (RPI) Group of Stout Risius Ross, Inc. (SRR). The acquisition complements existing global automotive expertise of Grant Thornton International (GTI) member firms and enhances the U.S. Recovery and Reorganization Services practice of Grant Thornton LLP, the U.S. member firm of GTI.“This acquisition adds yet another high-quality, value-added service to our suite of services,” said Paul Wolber, Detroit (Mich.) Office Managing Partner, in a prepared statement announcing the acquisition.
Community News

PricewaterhouseCoopers Launches U.S. Valuation Services

PricewaterhouseCoopers (PwC) has announced the launch of a U.S. valuation practice that offers a full range of valuation services. The valuation services are organized into two teams, the Transaction Services Accounting and Valuation Advisory practice and the Business Advisory practice. With the U.S.
A&A

CCH Expands SMB Market Position with TaxWise Acquisition

CCH, a Wolters Kluwer business and part of Wolters Kluwer Tax, Accounting & Legal division, announced the signing of an agreement to acquire the stock of TaxWise Corporation. The acquisition will enhance CCH’s ability to meet a wider range of professionals’ needs across market segments. “This acquisition will represent a significant strategic opportunity for CCH to further grow its small- and mid-market position with established tax preparation software and bank product lines,” CCH President and CEO Kevin Robert said.
Community News

Consolidation Ahead for Accounting Firms

Stricter regulations and slower economic growth continue to impact America’s accounting industry, causing many firms, especially mid-sized firms, to see mergers and acquisitions in the future, according to a new survey from IBISWorld, leading publishers of business research and analysis.
Community News

Acquisition Creates One of Georgia's Largest Pension Consulting Firms

TEGRA Financial Partners, a subsidiary of Habif, Arogeti & Wynne, LLP, (HA&W) the largest independent certified public accounting and business advisory firm in Georgia, announced it has acquired Olson & Swenson, Inc., an Atlanta-based full service and pension consulting firm.
A&A

Accenture Closes Acquisition, Enhances BPO Services

Accenture has enhanced its finance and accounting business process outsourcing (BPO) capabilities by closing the previously announced acquisition of Advantium Inc., including related entity XPAN LLC, and Meridian Informed Purchasing Ltd.
A&A

Darnall, Sikes, Gardes & Frederick Expands Wealth Management Services

DS&F Financial Services LLC, an affiliate of Darnall, Sikes, Gardes and Frederick, a CPA firm with headquarters in Lafayette, Louisiana, will merge with Wealth Care Group Asset Management LLC, the Daily Advertiser reports. The new company will be called DSF Wealth Management LLC.Larry Sikes, president and managing director of Darnall, Sikes, Gardes & Frederick, will be CEO of the merged financial services company.
Community News

Rothstein Kass Acquires San Francisco Accounting Firm

Rothstein Kass – Certified Public Accountants, a top 25 ranked international accounting and consulting firm, has acquired the assets of San Francisco-based Stadtler, Rosenblum & Saris (SRS), a medium-sized accounting and consulting firm. Effective July 1, SRS’ clients are being serviced by Rothstein Kass & Company, LLP.“We diligently searched for the ideal accounting firm to join and Rothstein Kass provides the best opportunities for us to substantially broaden our service offerings,” Sander Stadtler, SRS Managing Principal, explained in a prepared statement.
Community News

Ongoing M&A Market Boom to Spur Due Diligence, Tax Consulting Services

An ongoing strong market for corporate mergers and acquisitions (M&As) should mean continued steady business for CPA firms providing due diligence and related M&A and tax consulting services, according to a report from KPMG.Advertisement
Community News

BKD Acquires Firms in Oklahoma and Ohio; KPMG to Close Office in Wichita

BKD LLP, the 12th largest accounting firm in the U.S., with total revenue of $258 million, according to Accounting Today, announced Wednesday that it had acquired Lisle Compton Cole & Almen LLP in Oklahoma City and Gaither Rutherford & Co. LLP in Evansville, Ohio. The two acquisitions will bring $10 million in additional revenue to the firm. Earlier this month, BKD acquired Grant Thornton LLP’s Colorado Springs Office, the Wichita Business Journal reported.
Practice Management

An Inside Look at Sikich LLP

A conservative sounding expansion strategy is creating some non-conservatively dramatic growth for Aurora, Ill.-based Sikich.Advertisement
Practice Management

Crowe Launches Crowe Foundation, Completes Combination of Practices

The Crowe Group LLP has launched the Crowe Foundation which will provide grants to nonprofit organizations while also creating opportunities for Crowe personnel to develop leadership skills in the communities where they live, work and volunteer.

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