Reznick Group Managing Principal Kenneth E. Baggett announced this week that Friduss, Lukee, Schiff & Co. (FLS) and Reznick Group will merge. The closing of the transaction was Friday, January 21, 2005 and the combined firm will operate under the Reznick Group name and include six offices, approximately 900 employees and revenue of $115 million.

A leading national accounting, tax and business advisory firm, Reznick Group announced its strategic plan to become a top 10 firm, with 10 offices, in 10 years in October 2004.

"Our strategic plan calls for significant national growth, leveraging the firm's unique resources for our clients, and recruiting and retaining the best talent in the industry," said Reznick Group Managing Principal Kenneth E. Baggett. "This unsurpassed combination of extraordinary talent is a significant event for our expansion into the Midwest and nationally. FLS and Reznick Group are incredibly strong partners and together we will continue to deliver quality solutions and outstanding service to our clients," Baggett added.

The integration of FLS into Reznick Group will take place immediately with an orientation and training program for FLS employees to familiarize them with Reznick Group's technology, methodologies and philosophy. A total of 50 employees including nine principals from FLS will remain in Chicago.

The combined firm will maintain the FLS office space located in Chicago, Illinois. The Chicago office will have full-service capabilities providing audit, tax and business advisory services to clients in the Midwest and across the nation.