Midwestern Firms Merge
Virchow, Krause & Company, LLP, announced its merger with Bloomington based CPA Firm Berc & Fox, Ltd.
“Berc & Fox is a pool of great talent which will really compliment our construction/real estate team and restaurant industry practices. Our two firms both share an ideal business culture and this merger is a perfect strategic fit,” remarked Jeff DeYoung, local managing partner for Virchow Krause. "We could not ask for a better company to partner with, when it comes to serving the growing needs of our clients in the Twin City region."
As part of the merger, nine new associates, including one partner, have joined the team at the current Minneapolis office location. With the addition of these new quality associates, Virchow Krause has strengthened its presence in the Twin City market to a total of 226 professionals.
“Nothing but achieving greater goals will change for our clients,” commented Wayne Schiferl, the new partner to move over from Berc and Fox. “This merger can bring greater resources which will benefit our great clients and allow us to better service their complex business initiatives in the years to come. Further, it affords our employees an incredible opportunity for additional growth and training possibilities. Combining our two firms enables us to expand our services and capabilities, especially in the construction/real estate and restaurant industries."
With a depth of history dating back to the 1970s, firm namesake Rick Berc and the professionals at Berc and Fox have been advising many of the Twin Cities most prominent construction/real estate and restaurant owners, their businesses, and families for decades.
Rick Berc, CEO, said that he was extremely impressed with Virchow Krause from the very beginning. “This is a very complimentary merger where we feel the whole is better than the sum of the parts. Our two firms share similar values and a strong reputation to be innovative and productive for our clients. Our clients are excited because Virchow Krause is such a great fit, and we know that the similarity in our philosophy of doing business, will make the transition as smooth as possible for our clients.”
With 2006 marking the firm’s 75th anniversary, The addition of Berc and Fox boosts Virchow Krause to a firm wide total of 151 partners, a total staff of over 1200, and annual revenue to $175 million. By the end of the next fiscal year, Virchow Krause anticipates net revenue will exceed $200 million.
Virchow Krause currently ranks as the 15th largest firm in the country according to Public Accounting Report's "Top 100 of 2006." Virchow Krause provides a wide range of accounting, tax, assurance, and consulting services. The mission of Virchow Krause’s associates is to act as their clients' "most valued advisor," providing them advice and guidance on all aspects of their operations. The firm has offices in Illinois, Michigan, Minnesota and Wisconsin. Virchow Krause is an independent member of Baker Tilly International, a worldwide network of high quality, independent accounting and business services firms, all of whom are committed to providing the best possible service to their clients, in their own marketplaces and across the world, wherever the client needs help.